Keefe, Bruyette & Woods Reiterates “Market Perform” Rating for Middlefield Banc (NASDAQ:MBCN)

Middlefield Banc (NASDAQ:MBCN)‘s stock had its “market perform” rating reiterated by Keefe, Bruyette & Woods in a research note issued on Thursday, Benzinga reports. They presently have a $25.00 price objective on the bank’s stock, down from their prior price objective of $30.00. Keefe, Bruyette & Woods’ target price points to a potential upside of 7.81% from the company’s current price.

Several other equities research analysts also recently issued reports on the stock. Hovde Group dropped their price target on shares of Middlefield Banc from $25.00 to $23.00 and set a “market perform” rating on the stock in a research note on Wednesday. StockNews.com raised Middlefield Banc from a “sell” rating to a “hold” rating in a research report on Wednesday.

Middlefield Banc Stock Up 2.6 %

Middlefield Banc stock traded up $0.59 during trading on Thursday, reaching $23.19. 3,116 shares of the company’s stock were exchanged, compared to its average volume of 6,943. The company’s 50-day moving average is $23.27 and its two-hundred day moving average is $26.83. 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 52-week low of $21.36 and a 52-week high of $37.00. The firm has a market cap of $187.14 million, a price-to-earnings ratio of 11.31 and a beta of 0.65.

Middlefield Banc (NASDAQ:MBCN) last announced its earnings results on Tuesday, April 30th. The bank reported $0.51 EPS for the quarter, beating the consensus estimate of $0.42 by $0.09. Middlefield Banc had a return on equity of 8.33% and a net margin of 16.41%. The business had revenue of $26.41 million for the quarter, compared to the consensus estimate of $17.10 million. On average, analysts predict that Middlefield Banc will post 1.72 earnings per share for the current year.

Hedge Funds Weigh In On Middlefield Banc

Several large investors have recently modified their holdings of MBCN. BNP Paribas Financial Markets raised 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 buying an additional 1,204 shares in the last quarter. Redmont Wealth Advisors LLC raised its holdings in shares of Middlefield Banc by 6.5% during the third quarter. Redmont Wealth Advisors LLC now owns 32,126 shares of the bank’s stock worth $816,000 after purchasing an additional 1,961 shares during the period. SG Americas Securities LLC bought a new position in shares of Middlefield Banc in the 3rd quarter worth about $116,000. Virtu Financial LLC bought a new stake in shares of Middlefield Banc during the 4th quarter valued at about $273,000. Finally, Cerity Partners LLC acquired a new stake in Middlefield Banc during the fourth quarter worth about $290,000. 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.