Bank of America Corp DE raised its stake in shares of Middlefield Banc Corp (NASDAQ:MBCN) by 45.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,528 shares of the bank’s stock after acquiring an additional 788 shares during the period. Bank of America Corp DE owned approximately 0.08% of Middlefield Banc worth $108,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. raised its position in Middlefield Banc by 4.1% in the 4th quarter. BlackRock Inc. now owns 145,191 shares of the bank’s stock valued at $6,159,000 after purchasing an additional 5,659 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Middlefield Banc by 14.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 32,215 shares of the bank’s stock valued at $1,367,000 after buying an additional 4,029 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Middlefield Banc by 6.3% during the 4th quarter. Geode Capital Management LLC now owns 24,260 shares of the bank’s stock worth $1,029,000 after purchasing an additional 1,441 shares during the period. Institutional investors and hedge funds own 31.57% of the company’s stock.
In related news, insider Thomas G. Caldwell acquired 1,000 shares of the stock in a transaction on Tuesday, May 21st. The shares were purchased at an average price of $39.50 per share, for a total transaction of $39,500.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. In the last 90 days, insiders have acquired 2,200 shares of company stock worth $87,318. Corporate insiders own 6.88% of the company’s stock.
Shares of MBCN stock traded down $0.04 during trading hours on Wednesday, hitting $39.60. 14,017 shares of the company were exchanged, compared to its average volume of 4,787. The stock has a market cap of $128.94 million, a price-to-earnings ratio of 10.34 and a beta of 0.25. Middlefield Banc Corp has a 1 year low of $38.50 and a 1 year high of $53.10. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.99 and a current ratio of 1.00. The business’s fifty day moving average price is $39.90.
Middlefield Banc (NASDAQ:MBCN) last announced its quarterly earnings results on Monday, April 22nd. The bank reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.12). The business had revenue of $11.36 million during the quarter, compared to the consensus estimate of $11.72 million. Middlefield Banc had a return on equity of 10.13% and a net margin of 22.94%. As a group, equities research analysts predict that Middlefield Banc Corp will post 3.97 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were paid a dividend of $0.28 per share. The ex-dividend date was Thursday, May 30th. This represents a $1.12 dividend on an annualized basis and a yield of 2.83%. Middlefield Banc’s dividend payout ratio (DPR) is presently 29.24%.
A number of equities research analysts recently commented on the stock. Zacks Investment Research raised shares of Middlefield Banc from a “strong sell” rating to a “hold” rating in a research note on Wednesday. Boenning Scattergood set a $54.00 target price on shares of Middlefield Banc and gave the company a “buy” rating in a report on Tuesday, April 23rd.
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 accepts checking, savings, negotiable order of withdrawal, and money market accounts, as well as time certificates of deposit and IRA accounts.
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