Middlefield Banc Corp. (NASDAQ:MBCN) Shares Acquired by Elizabeth Park Capital Advisors Ltd.

Elizabeth Park Capital Advisors Ltd. lifted its holdings in shares of Middlefield Banc Corp. (NASDAQ:MBCN) by 1,250.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,462 shares of the bank’s stock after buying an additional 18,021 shares during the period. Elizabeth Park Capital Advisors Ltd.’s holdings in Middlefield Banc were worth $546,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. FMR LLC boosted its stake in Middlefield Banc by 104.2% during the 3rd quarter. FMR LLC now owns 1,117 shares of the bank’s stock valued at $32,000 after purchasing an additional 570 shares in the last quarter. Empowered Funds LLC increased its position in shares of Middlefield Banc by 4.4% in the fourth quarter. Empowered Funds LLC now owns 17,265 shares of the bank’s stock worth $484,000 after acquiring an additional 729 shares in the last quarter. State Street Corp boosted its stake in Middlefield Banc by 0.9% in the 3rd quarter. State Street Corp now owns 102,516 shares of the bank’s stock worth $2,952,000 after purchasing an additional 963 shares during the period. Geode Capital Management LLC grew its position in Middlefield Banc by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 165,355 shares of the bank’s stock worth $4,763,000 after purchasing an additional 1,368 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of Middlefield Banc by 11.2% in the fourth quarter. Wells Fargo & Company MN now owns 15,220 shares of the bank’s stock valued at $427,000 after purchasing an additional 1,536 shares in the last quarter. 31.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Hovde Group dropped their price target on Middlefield Banc from $28.00 to $25.00 and set a “market perform” rating on the stock in a research report on Monday, January 27th.

Middlefield Banc Stock Performance

Shares of MBCN opened at $25.55 on Friday. The company’s 50 day moving average price is $26.24 and its 200 day moving average price is $27.96. The company has a market capitalization of $206.47 million, a PE ratio of 13.31 and a beta of 0.41. Middlefield Banc Corp. has a 52 week low of $20.61 and a 52 week high of $34.00. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.97 and a current ratio of 0.97.

Middlefield Banc (NASDAQ:MBCN) last announced its quarterly earnings data on Thursday, January 23rd. The bank reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.14. Middlefield Banc had a return on equity of 7.47% and a net margin of 14.31%. Research analysts expect that Middlefield Banc Corp. will post 1.96 EPS for the current fiscal year.

Middlefield Banc Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.21 dividend. This is a boost from Middlefield Banc’s previous quarterly dividend of $0.20. The ex-dividend date was Friday, February 28th. This represents a $0.84 annualized dividend and a dividend yield of 3.29%. Middlefield Banc’s payout ratio is presently 43.75%.

About Middlefield Banc

Middlefield Banc Corp. operates as the bank holding company for The Middlefield Banking Company that provides various commercial banking services to small and medium-sized businesses, professionals, small business owners, and retail customers in northeastern and central Ohio. It offers checking, savings, negotiable order of withdrawal accounts, money market accounts, time certificates of deposit, commercial loans, real estate loans, various consumer loans, safe deposit facilities, and travelers' checks.