Geode Capital Management LLC Boosts Position in Middlefield Banc Corp. (NASDAQ:MBCN)

Geode Capital Management LLC lifted its stake in shares of Middlefield Banc Corp. (NASDAQ:MBCN) by 0.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 165,355 shares of the bank’s stock after acquiring an additional 1,368 shares during the period. Geode Capital Management LLC owned 2.05% of Middlefield Banc worth $4,763,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp increased its stake in shares of Middlefield Banc by 0.9% during the 3rd quarter. State Street Corp now owns 102,516 shares of the bank’s stock valued at $2,952,000 after acquiring an additional 963 shares during the last quarter. Barclays PLC grew its holdings in Middlefield Banc by 69.2% during the 3rd quarter. Barclays PLC now owns 16,916 shares of the bank’s stock valued at $487,000 after purchasing an additional 6,918 shares in the last quarter. Empowered Funds LLC boosted its holdings in Middlefield Banc by 5.1% in the third quarter. Empowered Funds LLC now owns 16,536 shares of the bank’s stock valued at $476,000 after purchasing an additional 804 shares during the last quarter. YHB Investment Advisors Inc. bought a new stake in shares of Middlefield Banc in the third quarter worth $225,000. Finally, FMR LLC raised its holdings in Middlefield Banc by 104.2% in the third quarter. FMR LLC now owns 1,117 shares of the bank’s stock valued at $32,000 after acquiring an additional 570 shares in the last quarter. Hedge funds and other institutional investors own 31.72% of the company’s stock.

Middlefield Banc Trading Down 1.5 %

NASDAQ:MBCN opened at $27.42 on Monday. The business has a fifty day moving average of $30.12 and a 200-day moving average of $27.45. The stock has a market cap of $221.31 million, a price-to-earnings ratio of 15.58 and a beta of 0.71. 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 Corp. has a 1 year low of $20.61 and a 1 year high of $34.00.

Middlefield Banc (NASDAQ:MBCN) last announced its quarterly earnings data on Thursday, October 17th. The bank reported $0.29 earnings per share 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 6.86%. The firm had revenue of $16.82 million during the quarter, compared to analyst estimates of $17.10 million. Equities analysts predict that Middlefield Banc Corp. will post 1.79 earnings per share for the current year.

Middlefield Banc Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date of this dividend was Friday, November 29th. Middlefield Banc’s dividend payout ratio (DPR) is presently 45.45%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on MBCN shares. Keefe, Bruyette & Woods boosted their target price on shares of Middlefield Banc from $30.00 to $32.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. StockNews.com raised shares of Middlefield Banc from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th.

Middlefield Banc 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 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.