Middlefield Banc (NASDAQ:MBCN) Upgraded to “Hold” 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 note issued to investors on Tuesday.

Middlefield Banc Stock Down 2.9 %

Shares of NASDAQ MBCN opened at $30.59 on Tuesday. The firm has a market cap of $246.86 million, a price-to-earnings ratio of 17.38 and a beta of 0.69. 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 has a 52-week low of $20.61 and a 52-week high of $37.00. The business’s 50 day moving average is $28.64 and its two-hundred day moving average is $25.38.

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 analysts’ consensus estimates of $0.47 by ($0.18). The firm had revenue of $16.82 million during the quarter, compared to analysts’ expectations of $17.10 million. Middlefield Banc had a net margin of 13.31% and a return on equity of 6.90%. Research analysts predict that Middlefield Banc will post 1.79 EPS for the current year.

Hedge Funds Weigh In On Middlefield Banc

Several institutional investors have recently modified their holdings of the business. FMR LLC grew its stake in shares of Middlefield Banc by 104.2% in the third quarter. FMR LLC now owns 1,117 shares of the bank’s stock worth $32,000 after acquiring an additional 570 shares in the last quarter. Empowered Funds LLC grew its stake in shares of Middlefield Banc by 5.1% in the third quarter. Empowered Funds LLC now owns 16,536 shares of the bank’s stock worth $476,000 after acquiring an additional 804 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Middlefield Banc by 48.9% in the first 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. grew its stake in shares of Middlefield Banc by 1.0% in the first 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. Finally, YHB Investment Advisors Inc. acquired a new position in shares of Middlefield Banc in the third quarter worth $225,000. Institutional investors and hedge funds 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.