Middlefield Banc Corp. (NASDAQ:MBCN) Holdings Lifted by Geode Capital Management LLC

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

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

Middlefield Banc Price Performance

Middlefield Banc stock opened at $27.42 on Monday. 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 business has a 50 day simple moving average of $30.12 and a 200 day simple moving average of $27.45. Middlefield Banc Corp. has a one year low of $20.61 and a one year high of $34.00. The company has a market capitalization of $221.31 million, a PE ratio of 15.58 and a beta of 0.71.

Middlefield Banc (NASDAQ:MBCN) last issued its quarterly earnings data 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). The business had revenue of $16.82 million during the quarter, compared to the consensus estimate of $17.10 million. Middlefield Banc had a net margin of 13.31% and a return on equity of 6.86%. On average, sell-side analysts forecast that Middlefield Banc Corp. will post 1.79 EPS for the current fiscal year.

Middlefield Banc Announces Dividend

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

Analyst Ratings Changes

MBCN has been the topic of several research analyst reports. StockNews.com upgraded shares of Middlefield Banc from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Keefe, Bruyette & Woods raised their target price on Middlefield Banc from $30.00 to $32.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th.

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.