Equity researchers at StockNews.com initiated a hedge on the shares of Middlefield Bank (NASDAQ: MBCN – Get a rating) in a report released Saturday. The brokerage has placed a “buy” rating on the bank’s shares.
Middlefield Banc share performance
NASDAQ: MBCN opened at $27.28 on Friday. The company has a market capitalization of $158.28 million, a PE ratio of 9.06 and a beta of 0.60. The company has a 50-day simple moving average of $26.41 and a two-hundred-day simple moving average of $25.62. The company has a debt ratio of 0.10, a quick ratio of 0.92 and a current ratio of 0.92. Middlefield Banc has a fifty-two week low of $22.82 and a fifty-two week high of $30.62.
Middlefield Bank (NASDAQ: MBCN – Get a rating) last released its results on Monday, July 18. The bank reported earnings per share of $0.70 for the quarter, beating consensus analyst estimates of $0.67 by $0.03. The company posted revenue of $13.41 million in the quarter, versus a consensus estimate of $13.20 million. Middlefield Banc posted a net margin of 31.25% and a return on equity of 12.89%.
Hedge funds weigh on Middlefield Banc
A number of large investors have recently changed their holdings in MBCN. Carnegie Capital Asset Management LLC increased its stake in Middlefield Banc by 34.2% in the second quarter. Carnegie Capital Asset Management LLC now owns 170,434 shares of the bank valued at $4,022,000 after acquiring 43,400 additional shares last quarter. Redmont Wealth Advisors LLC increased its stake in Middlefield Banc by 17.0% in the 1st quarter. Redmont Wealth Advisors LLC now owns 18,165 shares of the bank worth $451,000 after acquiring 2,640 additional shares in the last quarter. State Street Corp increased its stake in Middlefield Banc by 8.1% in the first quarter. State Street Corp now owns 17,700 shares of the bank worth $439,000 after acquiring 1,323 more shares in the last quarter. Fourthstone LLC increased its stake in Middlefield Banc by 55.4% in the 1st quarter. Fourthstone LLC now owns 50,375 shares of the bank worth $1,250,000 after acquiring an additional 17,950 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Middlefield Banc by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 96,410 shares of the bank valued at $2,393,000 after purchasing an additional 463 shares during the period. 28.43% of the shares are currently held by institutional investors.
Middlefield Bank Company Profile
Middlefield Banc Corp. operates as a bank holding company for The Middlefield Banking Company which provides various commercial banking services to small and medium-sized businesses, professionals, small business owners and retail customers in Northeast and Central Ohio . It offers checking accounts, savings accounts, negotiable withdrawal orders, money market accounts, term deposit certificates, business loans, home loans, various consumer loans, safe deposit boxes and travellers cheques.
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