Middlefield Banc (NASDAQ: MBCN) demoted to Zacks Investment Research


Middlefield Bench (NASDAQ: MBCN) has been downgraded from Zacks investment research from a “strong buy” note to a “conservation” note in a note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Middlefield Banc Corp. is a banking holding company for The Middlefield Banking Company. It offers its clients a wide range of banking services, including chequing, savings and negotiable withdrawal order (NOW) accounts; money market accounts; term deposit certificates, commercial loans, real estate loans and various types of consumer loans; safes and traveller’s checks. The Company also offers online banking and bill payment services. Middlefield Banc Corp. is headquartered in Middlefield, Ohio. “

NASDAQ: MBCN open for $ 24.61 Wednesday. The company’s 50-day mobile average price is $ 25.48, and its 200-day mobile average price is $ 24.33. The company has a current ratio of 0.95, a quick ratio of 0.95, and a debt ratio of 0.09. The company has a market cap of $ 146.87 million, a P / E ratio of 9.50 and a beta of 0.84. Middlefield Banc has a twelve month low of $ 18.64 and a twelve month high of $ 27.77.

Middlefield Banc (NASDAQ: MBCN) last released its quarterly results on Sunday, October 17. The bank reported earnings per share of $ 0.85 for the quarter, beating Thomson Reuters’ consensus estimate of $ 0.64 of $ 0.21. The company posted revenue of $ 14.32 million for the quarter, compared to a consensus estimate of $ 13.20 million. Middlefield Banc had a net margin of 27.25% and a return on equity of 11.22%. On average, analysts expect Middlefield Banc to post earnings per share of 2.98 for the current year.

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Several large investors have recently bought and sold shares of MBCN. EJF Capital LLC purchased a new position in Middlefield Banc shares in the second quarter valued at approximately $ 2,281,000. Millennium Management LLC acquired a new stake in Middlefield Banc during the second quarter valued at approximately $ 2,257,000. Alliancebernstein LP increased its position in Middlefield Banc by 146.5% during the third quarter. Alliancebernstein LP now owns 96,552 shares of the bank valued at $ 2,300,000 after purchasing an additional 57,387 shares in the last quarter. Kennedy Capital Management Inc. acquired a new stake in Middlefield Banc during the second quarter valued at approximately $ 634,000. Finally, Ergoteles LLC acquired a new stake in Middlefield Banc during the second quarter valued at approximately $ 611,000. 30.79% of the shares are currently held by hedge funds and other institutional investors.

Middlefield Banc Company Profile

Middlefield Banc Corp. is a holding company specializing in providing personal and business banking solutions. It offers chequing, savings, negotiable withdrawal order accounts, money market accounts, term deposit certificates, business loans, home loans, a variety of consumer loans, credit facilities. secure deposit and traveler’s check services.

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