Brokerages Expect Middlefield Banc Corp (NASDAQ:MBCN) to Announce $0.96 Earnings Per Share

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Shares of Middlefield Banc Corp (NASDAQ:MBCN) have been given an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.

Brokers have set a 1-year consensus price objective of $51.50 for the company and are forecasting that the company will post $0.96 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Middlefield Banc an industry rank of 157 out of 256 based on the ratings given to related companies.

Several brokerages recently weighed in on MBCN. ValuEngine lowered shares of Vereit from a “buy” rating to a “hold” rating in a research report on Friday. Zacks Investment Research lowered shares of Hancock Jaffe Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, June 26th. Finally, Boenning Scattergood set a $54.00 price target on shares of Middlefield Banc and gave the company a “buy” rating in a research report on Tuesday, April 23rd.

MBCN traded up $0.98 during midday trading on Friday, hitting $41.89. 5,900 shares of the company’s stock traded hands, compared to its average volume of 7,586. The stock has a market capitalization of $131.92 million, a P/E ratio of 10.94 and a beta of 0.27. The company’s fifty day moving average price is $40.24. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.09. Middlefield Banc has a one year low of $38.50 and a one year high of $51.00.

Middlefield Banc (NASDAQ:MBCN) last issued its quarterly earnings data on Monday, April 22nd. The bank reported $0.92 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.12). The business had revenue of $11.36 million for the quarter, compared to the consensus estimate of $11.72 million. Middlefield Banc had a net margin of 22.94% and a return on equity of 10.13%. On average, equities analysts forecast that Middlefield Banc will post 3.97 earnings per share for the current fiscal year.

In other news, insider Thomas G. Caldwell purchased 1,000 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were bought at an average price of $39.50 per share, with a total value of $39,500.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders bought 2,200 shares of company stock worth $87,318. Insiders own 6.88% of the company’s stock.

Several large investors have recently added to or reduced their stakes in MBCN. BlackRock Inc. raised its position in shares of Middlefield Banc by 4.1% in the fourth quarter. BlackRock Inc. now owns 145,191 shares of the bank’s stock valued at $6,159,000 after purchasing an additional 5,659 shares during the period. LSV Asset Management acquired a new stake in shares of Middlefield Banc in the first quarter worth $199,000. Dimensional Fund Advisors LP grew its stake in shares of Middlefield Banc by 14.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 32,215 shares of the bank’s stock worth $1,367,000 after acquiring an additional 4,029 shares during the last quarter. Ancora Advisors LLC grew its stake in shares of Middlefield Banc by 3.2% in the fourth quarter. Ancora Advisors LLC now owns 104,511 shares of the bank’s stock worth $4,435,000 after acquiring an additional 3,268 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Middlefield Banc in the first quarter worth $131,000. 31.57% of the stock is currently owned by institutional investors.

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.

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