StockNews.com Downgrades Middlefield Banc (NASDAQ:MBCN) to Sell

by · The Markets Daily

Middlefield Banc (NASDAQ:MBCN – Get Free Report) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Friday.

Middlefield Banc Price Performance

NASDAQ MBCN traded down $2.99 during trading on Friday, reaching $27.51. 26,514 shares of the company traded hands, compared to its average volume of 10,394. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.97 and a current ratio of 0.97. The stock’s 50 day moving average price is $27.25 and its two-hundred day moving average price is $24.46. The company has a market cap of $221.92 million, a price-to-earnings ratio of 13.42 and a beta of 0.69. Middlefield Banc has a 1-year low of $20.61 and a 1-year high of $37.00.

Middlefield Banc (NASDAQ:MBCN – Get Free Report) last released its quarterly earnings data on Thursday, July 18th. The bank reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.10. The company had revenue of $27.36 million for the quarter, compared to the consensus estimate of $16.80 million. Middlefield Banc had a return on equity of 7.74% and a net margin of 15.06%. As a group, analysts anticipate that Middlefield Banc will post 1.96 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets boosted its holdings in shares of Middlefield Banc by 48.9% in the 1st quarter. BNP Paribas Financial Markets now owns 3,668 shares of the bank’s stock worth $88,000 after acquiring an additional 1,204 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Middlefield Banc by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 386,196 shares of the bank’s stock worth $9,222,000 after acquiring an additional 3,782 shares in the last quarter. Redmont Wealth Advisors LLC boosted its holdings in shares of Middlefield Banc by 14.2% in the 1st quarter. Redmont Wealth Advisors LLC now owns 32,017 shares of the bank’s stock worth $765,000 after acquiring an additional 3,989 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Middlefield Banc in the 4th quarter worth approximately $273,000. 31.72% of the stock is owned by institutional investors and hedge funds.

About Middlefield Banc

(Get Free Report)

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.

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