Middlefield Banc (NASDAQ:MBCN) Stock Rating Upgraded by StockNews.com

Middlefield Banc (NASDAQ:MBCN) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.

Middlefield Banc Stock Down 2.9 %

Shares of NASDAQ:MBCN opened at $30.59 on Tuesday. Middlefield Banc has a 52-week low of $20.61 and a 52-week high of $37.00. The stock has a market cap of $246.86 million, a P/E ratio of 17.38 and a beta of 0.69. The business’s 50 day moving average is $28.64 and its 200 day moving average is $25.38. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.06.

Middlefield Banc (NASDAQ:MBCN) last announced its earnings results on Thursday, October 17th. The bank reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.18). Middlefield Banc had a net margin of 13.31% and a return on equity of 6.90%. The company had revenue of $16.82 million for the quarter, compared to the consensus estimate of $17.10 million. Sell-side analysts predict that Middlefield Banc will post 1.79 EPS for the current year.

Institutional Investors Weigh In On Middlefield Banc

A number of institutional investors have recently modified their holdings of MBCN. FMR LLC boosted its holdings in Middlefield Banc by 104.2% in the 3rd quarter. FMR LLC now owns 1,117 shares of the bank’s stock worth $32,000 after buying an additional 570 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in 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 purchasing an additional 1,204 shares in the last quarter. YHB Investment Advisors Inc. purchased a new position in Middlefield Banc in the 3rd quarter worth approximately $225,000. Empowered Funds LLC lifted its stake in Middlefield Banc by 5.1% in the 3rd quarter. Empowered Funds LLC now owns 16,536 shares of the bank’s stock worth $476,000 after purchasing an additional 804 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Middlefield Banc by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 386,196 shares of the bank’s stock valued at $9,222,000 after buying an additional 3,782 shares during the period. 31.72% of the stock is currently owned by institutional investors and hedge funds.

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.