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

Middlefield Banc (NASDAQ:MBCN) had its target price hoisted by research analysts at Keefe, Bruyette & Woods from $30.00 to $32.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 3.23% from the company’s current price.

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

Middlefield Banc Stock Performance

MBCN stock opened at $31.00 on Wednesday. The firm has a 50 day moving average of $29.68 and a two-hundred day moving average of $26.23. Middlefield Banc has a 12 month low of $20.61 and a 12 month high of $37.00. The company has a market capitalization of $250.17 million, a price-to-earnings ratio of 17.61 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 (NASDAQ:MBCN) last issued its quarterly earnings data 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). The firm had revenue of $16.82 million during the quarter, compared to analyst estimates of $17.10 million. Middlefield Banc had a return on equity of 6.86% and a net margin of 13.31%. As a group, equities analysts anticipate that Middlefield Banc will post 1.79 EPS for the current fiscal year.

Institutional Investors Weigh In On Middlefield Banc

Large investors have recently made changes to their positions in the company. YHB Investment Advisors Inc. acquired a new stake in Middlefield Banc in the 3rd quarter valued at about $225,000. Barclays PLC grew its holdings in shares of Middlefield Banc by 69.2% in the 3rd quarter. Barclays PLC now owns 16,916 shares of the bank’s stock valued at $487,000 after buying an additional 6,918 shares during the period. Vanguard Group Inc. increased its position 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 valued at $9,222,000 after buying an additional 3,782 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Middlefield Banc by 0.8% during the third quarter. Geode Capital Management LLC now owns 165,355 shares of the bank’s stock worth $4,763,000 after acquiring an additional 1,368 shares in the last quarter. Finally, State Street Corp grew its stake in Middlefield Banc by 0.9% in the third quarter. State Street Corp now owns 102,516 shares of the bank’s stock valued at $2,952,000 after acquiring an additional 963 shares during the period. 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.