Hovde Group Issues Pessimistic Forecast for Middlefield Banc (NASDAQ:MBCN) Stock Price

Middlefield Banc (NASDAQ:MBCN) had its price target lowered by investment analysts at Hovde Group from $28.00 to $25.00 in a report released 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 points to a potential upside of 1.96% from the company’s current price.

A number of other research firms have also recently weighed in on MBCN. Keefe, Bruyette & Woods upped their price target on 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 raised shares of Middlefield Banc from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th.

Middlefield Banc Stock Performance

NASDAQ:MBCN opened at $24.52 on Monday. The firm’s fifty day simple moving average is $28.68 and its 200 day simple moving average is $27.77. 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 has a twelve month low of $20.61 and a twelve month high of $34.00. The firm has a market capitalization of $197.88 million, a price-to-earnings ratio of 13.93 and a beta of 0.71.

Middlefield Banc (NASDAQ:MBCN) last issued its quarterly earnings data on Thursday, January 23rd. The bank reported $0.60 EPS for the quarter, topping 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, equities research analysts expect that Middlefield Banc will post 1.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Middlefield Banc

A number of institutional investors have recently made changes to their positions in MBCN. JPMorgan Chase & Co. increased its position in shares of Middlefield Banc by 127.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 12,180 shares of the bank’s stock worth $351,000 after purchasing an additional 6,832 shares during the last quarter. Barclays PLC increased its holdings in Middlefield Banc by 69.2% in the third quarter. Barclays PLC now owns 16,916 shares of the bank’s stock valued at $487,000 after buying an additional 6,918 shares during the last quarter. Geode Capital Management LLC raised its stake in Middlefield Banc by 0.8% during the third quarter. Geode Capital Management LLC now owns 165,355 shares of the bank’s stock valued at $4,763,000 after buying an additional 1,368 shares in the last quarter. State Street Corp lifted its holdings in Middlefield Banc by 0.9% during the 3rd quarter. State Street Corp now owns 102,516 shares of the bank’s stock worth $2,952,000 after buying an additional 963 shares during the last quarter. Finally, FMR LLC increased its holdings in shares of Middlefield Banc by 104.2% in the 3rd quarter. FMR LLC now owns 1,117 shares of the bank’s stock valued at $32,000 after acquiring an additional 570 shares during the last quarter. 31.72% of the stock is owned by institutional investors and hedge funds.

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.