Middlefield Banc (NASDAQ:MBCN) now covered by StockNews.com

StockNews.com took over stock coverage of Middlefield Bench (NASDAQ:MBCN – Get Assessment) in a research report delivered to clients and investors on Thursday. The brokerage has placed a “buy” rating on the bank’s shares.

Separately, Zacks Investment Research upgraded shares of Middlefield Banc from a “hold” rating to a “strong-buy” rating and set a price target of $29.00 for the company in a research note from the Tuesday, February 1.

Middlefield Banc stock opened at $25.17 on Thursday. The company has a 50-day moving average price of $25.50 and a 200-day moving average price of $25.03. The company has a debt ratio of 0.09, a quick ratio of 0.95 and a current ratio of 0.95. Middlefield Banc has a fifty-two week low of $20.33 and a fifty-two week high of $27.77. The company has a market capitalization of $150.21 million, a PE ratio of 8.36 and a beta of 0.78.

Middlefield Banc (NASDAQ:MBCN – Get Rating) last released its quarterly earnings data on Tuesday, January 25. The bank reported EPS of $0.81 for the quarter, beating analyst consensus estimates of $0.79 by $0.02. The company had revenue of $13.53 million in the quarter, versus a consensus estimate of $14.00 million. Middlefield Banc posted a net margin of 31.29% and a return on equity of 12.80%. On average, analysts expect Middlefield Banc to post earnings per share of 2.42 for the current year.

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Several institutional investors and hedge funds have recently changed their positions in the company. Barclays PLC increased its holdings in Middlefield Banc by 230.3% in the fourth quarter. Barclays PLC now owns 2,309 shares in the bank valued at $57,000 after buying a further 1,610 shares in the last quarter. BlackRock Inc. increased its holdings in Middlefield Banc by 49.0% in the fourth quarter. BlackRock Inc. now owns 23,650 shares of the bank valued at $587,000 after purchasing an additional 7,782 shares in the last quarter. Marshall Wace LLP purchased a new stake in Middlefield Banc in the fourth quarter for $44,000. Millennium Management LLC increased its stake in Middlefield Banc by 5.5% in the fourth quarter. Millennium Management LLC now owns 56,862 shares of the bank valued at $1,411,000 after purchasing an additional 2,972 shares in the last quarter. Finally, State Street Corp increased its stake in Middlefield Banc by 12.3% in the fourth quarter. State Street Corp now owns 16,377 shares of the bank valued at $406,000 after buying an additional 1,800 shares in the last quarter. 30.23% of the shares are currently held by hedge funds and other institutional investors.

Middlefield Bank Company Profile (Get a rating)

Middlefield Banc Corp. is a holding company that provides personal and commercial banking solutions. It offers checking accounts, savings accounts, negotiable withdrawal orders, money market accounts, term deposit certificates, business loans, home loans, a variety of consumer loans, safe deposit boxes and traveler’s check services.

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