StockNews.com Downgrades Middlefield Banc (NASDAQ:MBCN) to Sell

Middlefield Banc (NASDAQ:MBCN) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

Middlefield Banc Stock Performance

Shares of NASDAQ MBCN traded down $2.99 during trading hours on Friday, hitting $27.51. 26,514 shares of the company’s stock were exchanged, compared to its average volume of 10,394. The company’s 50-day moving average price is $27.25 and its 200-day moving average price is $24.46. Middlefield Banc has a 1-year low of $20.61 and a 1-year high of $37.00. The stock has a market capitalization of $221.92 million, a price-to-earnings ratio of 13.42 and a beta of 0.69. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.97 and a quick ratio of 0.97.

Middlefield Banc (NASDAQ:MBCN) last posted its quarterly earnings data on Thursday, July 18th. The bank reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.10. Middlefield Banc had a return on equity of 7.74% and a net margin of 15.06%. The company had revenue of $27.36 million during the quarter, compared to analysts’ expectations of $16.80 million. On average, sell-side analysts expect that Middlefield Banc will post 1.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Middlefield Banc

Institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its position in Middlefield Banc by 48.9% during the first quarter. BNP Paribas Financial Markets now owns 3,668 shares of the bank’s stock worth $88,000 after buying an additional 1,204 shares in the last quarter. Virtu Financial LLC acquired a new stake in Middlefield Banc during the fourth quarter worth about $273,000. 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. Finally, 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. 31.72% of the stock is owned by institutional investors and hedge funds.

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.