Middlefield Banc Corp. (NASDAQ:MBCN) Declares Quarterly Dividend of $0.20

Middlefield Banc Corp. (NASDAQ:MBCN) announced a quarterly dividend on Tuesday, November 19th,Wall Street Journal reports. Stockholders of record on Friday, November 29th will be paid a dividend of 0.20 per share by the bank on Friday, December 13th. This represents a $0.80 annualized dividend and a dividend yield of 2.63%. The ex-dividend date of this dividend is Friday, November 29th.

Middlefield Banc has increased its dividend payment by an average of 10.1% per year over the last three years. Middlefield Banc has a payout ratio of 44.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Middlefield Banc to earn $1.86 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 43.0%.

Middlefield Banc Stock Performance

MBCN traded up $0.02 during trading hours on Tuesday, hitting $30.47. The stock had a trading volume of 5,148 shares, compared to its average volume of 10,473. The company’s fifty day simple moving average is $28.92 and its 200 day simple moving average is $25.58. Middlefield Banc has a 1 year low of $20.61 and a 1 year high of $37.00. The stock has a market cap of $245.89 million, a PE ratio of 17.30 and a beta of 0.69. 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 announced its quarterly earnings data on Thursday, October 17th. The bank reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.18). Middlefield Banc had a return on equity of 6.86% and a net margin of 13.31%. The firm had revenue of $16.82 million during the quarter, compared to analysts’ expectations of $17.10 million. Equities analysts anticipate that Middlefield Banc will post 1.79 earnings per share for the current year.

Analyst Ratings Changes

Separately, StockNews.com raised Middlefield Banc from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th.

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.