Middlefield Banc (MBCN) Posts Quarterly Earnings Results, Misses Estimates By $0.08 EPS

Middlefield Banc (NASDAQ:MBCN) posted its quarterly earnings data on Thursday. The bank reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.08), Bloomberg Earnings reports. Middlefield Banc had a return on equity of 8.08% and a net margin of 19.35%.

MBCN stock opened at $53.00 on Friday. Middlefield Banc has a 1-year low of $42.10 and a 1-year high of $54.90. The company has a market capitalization of $171.30, a PE ratio of 17.60 and a beta of 0.19. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.01 and a current ratio of 1.01.

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Several equities analysts recently issued reports on the company. ValuEngine upgraded Middlefield Banc from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Boenning Scattergood reiterated a “buy” rating on shares of Middlefield Banc in a research note on Wednesday, January 31st. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $51.00 price objective on shares of Middlefield Banc in a research note on Friday, December 22nd. Finally, Zacks Investment Research upgraded Middlefield Banc from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a research note on Wednesday, January 3rd.

In related news, Director William A. Et Al Valerian sold 600 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $49.34, for a total transaction of $29,604.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director William A. Et Al Valerian sold 5,818 shares of the stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $49.07, for a total value of $285,489.26. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,850 shares of company stock worth $780,128. Corporate insiders own 6.97% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company bought a new stake in Middlefield Banc during the 2nd quarter worth approximately $145,000. California State Teachers Retirement System bought a new stake in Middlefield Banc during the 2nd quarter worth approximately $232,000. Vanguard Group Inc. bought a new stake in Middlefield Banc during the 2nd quarter worth approximately $399,000. Finally, State Street Corp bought a new stake in Middlefield Banc during the 2nd quarter worth approximately $1,336,000. Institutional investors and hedge funds own 27.85% of the company’s stock.

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Middlefield Banc Company Profile

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 accepts checking, savings, negotiable order of withdrawal, and money market accounts, as well as time certificates of deposit and IRA accounts.

Earnings History for Middlefield Banc (NASDAQ:MBCN)

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