Middlefield Banc (NASDAQ:MBCN) Upgraded to Hold by StockNews.com

Middlefield Banc (NASDAQ:MBCN) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Saturday.

Middlefield Banc Price Performance

Shares of MBCN opened at $27.16 on Friday. The business has a 50-day moving average of $27.64 and a 200-day moving average of $24.65. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.97 and a quick ratio of 0.97. The company has a market capitalization of $219.18 million, a price-to-earnings ratio of 15.43 and a beta of 0.69. Middlefield Banc has a 1 year low of $20.61 and a 1 year high of $37.00.

Hedge Funds Weigh In On Middlefield Banc

A number of hedge funds have recently bought and sold shares of MBCN. Vanguard Group Inc. boosted its holdings 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 worth $9,222,000 after buying an additional 3,782 shares in the last quarter. BNP Paribas Financial Markets raised its stake in Middlefield Banc by 48.9% during the 1st quarter. BNP Paribas Financial Markets now owns 3,668 shares of the bank’s stock worth $88,000 after buying an additional 1,204 shares during the period. YHB Investment Advisors Inc. bought a new position in Middlefield Banc in the third quarter worth approximately $225,000. Finally, Redmont Wealth Advisors LLC grew its stake in Middlefield Banc by 14.2% in the first quarter. Redmont Wealth Advisors LLC now owns 32,017 shares of the bank’s stock valued at $765,000 after acquiring an additional 3,989 shares during the period. Institutional investors own 31.72% of the company’s stock.

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.