Middlefield Banc (NASDAQ:MBCN) Upgraded at 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 note issued on Saturday.

Middlefield Banc Trading Down 1.6 %

NASDAQ MBCN opened at $27.16 on Friday. The company’s 50-day simple moving average is $27.64 and its two-hundred day simple moving average is $24.67. 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 has a one year low of $20.61 and a one year high of $37.00. The company has a market capitalization of $219.18 million, a price-to-earnings ratio of 15.43 and a beta of 0.69.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets boosted 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. acquired a new stake in Middlefield Banc in the 3rd quarter worth approximately $225,000. Redmont Wealth Advisors LLC boosted its stake in 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 purchasing an additional 3,989 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in 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 purchasing an additional 3,782 shares in the last quarter. Hedge funds and other 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.