Middlefield Banc (NASDAQ:MBCN) Releases Quarterly Earnings Results, Beats Expectations By $0.09 EPS

Middlefield Banc (NASDAQ:MBCN) posted its earnings results on Tuesday. The bank reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.09, Yahoo Finance reports. The firm had revenue of $26.41 million for the quarter, compared to analysts’ expectations of $17.10 million. Middlefield Banc had a return on equity of 8.76% and a net margin of 17.91%.

Middlefield Banc Price Performance

Middlefield Banc stock traded up $0.48 during midday trading on Wednesday, reaching $21.95. The company had a trading volume of 2,561 shares, compared to its average volume of 10,118. Middlefield Banc has a 12-month low of $21.36 and a 12-month high of $37.00. The firm’s fifty day simple moving average is $23.37 and its 200-day simple moving average is $26.92. 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 company has a market capitalization of $177.14 million, a P/E ratio of 10.28 and a beta of 0.62.

Middlefield Banc Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.80 annualized dividend and a dividend yield of 3.64%. Middlefield Banc’s dividend payout ratio (DPR) is presently 37.38%.

Insider Activity

In other Middlefield Banc news, Director Michael C. Voinovich bought 1,000 shares of the company’s stock in a transaction dated Friday, February 2nd. The stock was acquired at an average price of $26.67 per share, with a total value of $26,670.00. Following the completion of the acquisition, the director now directly owns 8,253 shares of the company’s stock, valued at $220,107.51. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 3.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Hovde Group cut their price objective on Middlefield Banc from $25.00 to $23.00 and set a “market perform” rating for the company in a research report on Wednesday.

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.