Middlefield Banc Corp. (MBCN) To Go Ex-Dividend on November 29th

Middlefield Banc Corp. (NASDAQ:MBCN) declared a quarterly dividend on Monday, November 18th,Wall Street Journal reports. Investors of record on Friday, November 29th will be paid a dividend of 0.20 per share by the bank on Friday, December 13th. This represents a $0.80 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend is Friday, November 29th.

Middlefield Banc has increased its dividend by an average of 10.1% per year over the last three years. Middlefield Banc has a payout ratio of 44.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Middlefield Banc to earn $1.86 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 43.0%.

Middlefield Banc Stock Down 1.4 %

NASDAQ:MBCN opened at $30.74 on Wednesday. The company’s 50 day moving average is $29.29 and its two-hundred day moving average is $25.84. The company has a market cap of $248.07 million, a PE ratio of 17.47 and a beta of 0.69. Middlefield Banc has a twelve month low of $20.61 and a twelve month high of $37.00. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.06.

Middlefield Banc (NASDAQ:MBCN) last announced 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). Middlefield Banc had a net margin of 13.31% and a return on equity of 6.86%. The company had revenue of $16.82 million for the quarter, compared to analysts’ expectations of $17.10 million. Analysts anticipate that Middlefield Banc will post 1.79 EPS for the current year.

Analysts Set New Price Targets

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

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.