Middlefield Banc (NASDAQ:MBCN) Posts Earnings Results, Beats Estimates By $0.14 EPS

Middlefield Banc (NASDAQ:MBCN) announced its quarterly earnings data on Thursday. The bank reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14, Zacks reports. Middlefield Banc had a return on equity of 6.86% and a net margin of 13.31%.

Middlefield Banc Price Performance

Shares of NASDAQ MBCN traded down $0.51 during midday trading on Thursday, reaching $24.26. 7,509 shares of the stock traded hands, compared to its average volume of 9,890. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $195.78 million, a PE ratio of 13.78 and a beta of 0.71. Middlefield Banc has a one year low of $20.61 and a one year high of $34.00. The company’s 50 day moving average is $28.90 and its 200 day moving average is $27.70.

Middlefield Banc Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were paid a $0.20 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.80 annualized dividend and a yield of 3.30%. Middlefield Banc’s payout ratio is 45.45%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MBCN. StockNews.com upgraded Middlefield Banc from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. 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 research note on Wednesday, December 4th.

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.