Middlefield Banc (NASDAQ:MBCN) Price Target Raised to $32.00 at Keefe, Bruyette & Woods

Middlefield Banc (NASDAQ:MBCN) had its price target upped by research analysts at Keefe, Bruyette & Woods from $30.00 to $32.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 4.23% from the company’s previous close.

Separately, StockNews.com upgraded shares of Middlefield Banc from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th.

Middlefield Banc Trading Down 0.3 %

MBCN stock traded down $0.09 during midday trading on Wednesday, reaching $30.70. The stock had a trading volume of 5,377 shares, compared to its average volume of 10,429. The business has a fifty day simple moving average of $29.57 and a two-hundred day simple moving average of $26.17. 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 twelve month low of $20.61 and a twelve month high of $37.00. The firm has a market cap of $247.78 million, a price-to-earnings ratio of 17.44 and a beta of 0.69.

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 analyst estimates of $17.10 million. Middlefield Banc had a net margin of 13.31% and a return on equity of 6.86%. As a group, research analysts expect that Middlefield Banc will post 1.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MBCN. Vanguard Group Inc. boosted its position in Middlefield Banc by 1.0% during the first quarter. Vanguard Group Inc. now owns 386,196 shares of the bank’s stock valued at $9,222,000 after buying an additional 3,782 shares during the period. Geode Capital Management LLC boosted its stake in shares of Middlefield Banc by 0.8% during the third quarter. Geode Capital Management LLC now owns 165,355 shares of the bank’s stock valued at $4,763,000 after purchasing an additional 1,368 shares during the period. State Street Corp grew its holdings in shares of Middlefield Banc by 0.9% in the third quarter. State Street Corp now owns 102,516 shares of the bank’s stock worth $2,952,000 after purchasing an additional 963 shares during the last quarter. Barclays PLC increased its stake in shares of Middlefield Banc by 69.2% in the third 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, Empowered Funds LLC raised its holdings in Middlefield Banc by 5.1% during the 3rd quarter. Empowered Funds LLC now owns 16,536 shares of the bank’s stock valued at $476,000 after buying an additional 804 shares during the last quarter. 31.72% of the stock is currently owned by hedge funds and other institutional investors.

Middlefield Banc Company 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.