Middlefield Banc (NASDAQ:MBCN) Downgraded to “Sell” at StockNews.com

StockNews.com cut shares of Middlefield Banc (NASDAQ:MBCN) from a hold rating to a sell rating in a research report sent to investors on Friday morning.

Middlefield Banc Price Performance

Shares of Middlefield Banc stock opened at $27.18 on Friday. Middlefield Banc has a 52 week low of $20.61 and a 52 week high of $37.00. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.06. The company’s 50-day moving average price is $27.39 and its two-hundred day moving average price is $24.54. The stock has a market cap of $219.26 million, a PE ratio of 13.26 and a beta of 0.69.

Middlefield Banc Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend was Friday, August 30th. Middlefield Banc’s payout ratio is 39.02%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MBCN. Virtu Financial LLC purchased a new stake in Middlefield Banc during the fourth quarter valued at about $273,000. Redmont Wealth Advisors LLC lifted its holdings in shares of Middlefield Banc by 14.2% in the first quarter. Redmont Wealth Advisors LLC now owns 32,017 shares of the bank’s stock valued at $765,000 after purchasing an additional 3,989 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Middlefield Banc by 1.0% in 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 during the period. Finally, BNP Paribas Financial Markets raised 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 valued at $88,000 after buying an additional 1,204 shares during the period. Institutional investors own 31.72% of the company’s stock.

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.