Middlefield Banc (NASDAQ:MBCN) Downgraded to “Sell” Rating by StockNews.com

Middlefield Banc (NASDAQ:MBCN) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Sunday.

Middlefield Banc Stock Performance

MBCN stock opened at $28.81 on Friday. The company has a 50-day simple moving average of $27.96 and a 200 day simple moving average of $24.85. The company has a market capitalization of $232.50 million, a P/E ratio of 16.37 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 fifty-two week low of $20.61 and a fifty-two week high of $37.00.

Middlefield Banc (NASDAQ:MBCN) last issued its quarterly earnings results on Thursday, October 17th. The bank reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.18). Middlefield Banc had a return on equity of 6.90% and a net margin of 13.31%. The company had revenue of $16.82 million during the quarter, compared to analyst estimates of $17.10 million. Sell-side analysts predict that Middlefield Banc will post 1.79 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. YHB Investment Advisors Inc. acquired a new stake in Middlefield Banc in the 3rd quarter valued at about $225,000. Vanguard Group Inc. raised its holdings in shares of 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. Finally, BNP Paribas Financial Markets lifted its stake in Middlefield Banc by 48.9% during the first quarter. BNP Paribas Financial Markets now owns 3,668 shares of the bank’s stock valued at $88,000 after purchasing an additional 1,204 shares during the last quarter. 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.