Middlefield Banc (NASDAQ:MBCN) Price Target Lowered to $25.00 at Hovde Group

Middlefield Banc (NASDAQ:MBCN) had its price objective lowered by equities research analysts at Hovde Group from $28.00 to $25.00 in a report issued on Monday,Briefing.com Automated Import reports. The brokerage currently has a “market perform” rating on the bank’s stock. Hovde Group’s price target suggests a potential upside of 1.96% from the stock’s previous close.

A number of other research firms have also recently weighed in on MBCN. Keefe, Bruyette & Woods increased their price objective on shares of Middlefield Banc from $30.00 to $32.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. StockNews.com upgraded shares of Middlefield Banc from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th.

Middlefield Banc Stock Performance

Shares of NASDAQ MBCN opened at $24.52 on Monday. The stock has a market capitalization of $197.88 million, a P/E ratio of 13.93 and a beta of 0.71. The firm’s 50-day moving average price is $28.68 and its two-hundred day moving average price is $27.77. Middlefield Banc has a 52-week low of $20.61 and a 52-week high of $34.00. 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 released its quarterly earnings data on Thursday, January 23rd. The bank reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. Middlefield Banc had a return on equity of 6.86% and a net margin of 13.31%. As a group, sell-side analysts forecast that Middlefield Banc will post 1.79 earnings per share for the current year.

Institutional Investors Weigh In On Middlefield Banc

Institutional investors have recently bought and sold shares of the stock. FMR LLC boosted its stake in Middlefield Banc by 104.2% during the 3rd quarter. FMR LLC now owns 1,117 shares of the bank’s stock valued at $32,000 after purchasing an additional 570 shares in the last quarter. YHB Investment Advisors Inc. bought a new position in Middlefield Banc during the third quarter valued at about $225,000. JPMorgan Chase & Co. grew its holdings in Middlefield Banc by 127.7% during the third quarter. JPMorgan Chase & Co. now owns 12,180 shares of the bank’s stock worth $351,000 after acquiring an additional 6,832 shares during the period. Empowered Funds LLC raised its position in Middlefield Banc by 5.1% in the third quarter. Empowered Funds LLC now owns 16,536 shares of the bank’s stock worth $476,000 after acquiring an additional 804 shares in the last quarter. Finally, Barclays PLC lifted its holdings in 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 acquiring an additional 6,918 shares during the last quarter. Institutional investors and hedge funds 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.