ValuEngine upgraded shares of Middlefield Banc (NASDAQ:MBCN) from a hold rating to a buy rating in a research report report published on Friday.
MBCN has been the subject of a number of other reports. Boenning Scattergood reissued a buy rating on shares of Middlefield Banc in a research note on Wednesday, January 31st. Keefe, Bruyette & Woods reissued a hold rating and set a $51.00 target price on shares of Middlefield Banc in a research note on Friday, December 22nd. Finally, Zacks Investment Research raised shares of Middlefield Banc from a hold rating to a buy rating and set a $54.00 target price for the company in a research note on Wednesday, January 3rd.
Middlefield Banc (NASDAQ:MBCN) opened at $49.55 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market cap of $159.44, a PE ratio of 16.41 and a beta of 0.17. Middlefield Banc has a one year low of $39.20 and a one year high of $54.60.
Several hedge funds have recently added to or reduced their stakes in the business. State Street Corp bought a new stake in shares of Middlefield Banc during the 2nd quarter worth about $1,336,000. Northern Trust Corp bought a new stake in shares of Middlefield Banc during the 2nd quarter worth about $1,262,000. Bank of New York Mellon Corp raised its position in shares of Middlefield Banc by 19.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 9,317 shares of the bank’s stock worth $430,000 after buying an additional 1,536 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Middlefield Banc during the 3rd quarter worth about $376,000. Finally, Vanguard Group Inc. bought a new stake in shares of Middlefield Banc during the 2nd quarter worth about $399,000. Institutional investors own 26.32% of the company’s stock.
Middlefield Banc Company Profile
Middlefield Banc Corp. is a bank holding company. The Company’s subsidiaries include The Middlefield Banking Company (MBC) and EMORECO Inc MBC is engaged in the general commercial banking business in northeastern and central Ohio. MBC offers customers a range of banking services, including checking, savings, money market accounts, time certificates of deposit, commercial loans, real estate loans, various consumer loans, safe deposit facilities and travelers’ checks.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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