Middlefield Banc (NASDAQ:MBCN) Upgraded to Hold by StockNews.com

StockNews.com upgraded shares of Middlefield Banc (NASDAQ:MBCN) from a sell rating to a hold rating in a report issued on Saturday morning.

Middlefield Banc Stock Performance

NASDAQ:MBCN opened at $27.16 on Friday. The business’s fifty day moving average is $27.64 and its 200 day moving average is $24.66. The firm has a market cap of $219.18 million, a price-to-earnings ratio of 15.43 and a beta of 0.69. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.97 and a current ratio of 0.97. Middlefield Banc has a 52-week low of $20.61 and a 52-week high of $37.00.

Middlefield Banc Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.80 annualized dividend and a yield of 2.95%. Middlefield Banc’s dividend payout ratio is currently 45.45%.

Institutional Trading of Middlefield Banc

Several institutional investors and hedge funds have recently bought and sold shares of the company. YHB Investment Advisors Inc. purchased a new position in shares of Middlefield Banc during the 3rd quarter valued at $225,000. Redmont Wealth Advisors LLC grew its position in Middlefield Banc by 14.2% during the first quarter. Redmont Wealth Advisors LLC now owns 32,017 shares of the bank’s stock worth $765,000 after buying an additional 3,989 shares in the last quarter. Vanguard Group Inc. grew 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 worth $9,222,000 after buying an additional 3,782 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in Middlefield Banc by 48.9% in the 1st quarter. BNP Paribas Financial Markets now owns 3,668 shares of the bank’s stock worth $88,000 after acquiring an additional 1,204 shares during the last quarter. 31.72% of the stock is currently owned by hedge funds and other institutional investors.

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.