Middlefield Banc Corp. (NASDAQ:MBCN) Stock Position Lowered by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. trimmed its holdings in Middlefield Banc Corp. (NASDAQ:MBCN) by 5.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,273 shares of the bank’s stock after selling 1,148 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Middlefield Banc were worth $584,000 as of its most recent filing with the Securities and Exchange Commission.

Separately, Empowered Funds LLC raised its holdings in shares of Middlefield Banc by 5.1% in the 3rd quarter. Empowered Funds LLC now owns 16,536 shares of the bank’s stock worth $476,000 after purchasing an additional 804 shares in the last quarter. Hedge funds and other institutional investors own 31.72% of the company’s stock.

Middlefield Banc Stock Performance

Shares of MBCN stock opened at $29.78 on Thursday. The company has a market capitalization of $240.35 million, a price-to-earnings ratio of 16.92 and a beta of 0.69. Middlefield Banc Corp. has a 1-year low of $20.61 and a 1-year high of $35.58. 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 stock’s fifty day simple moving average is $30.09 and its 200-day simple moving average is $26.77.

Middlefield Banc (NASDAQ:MBCN) last released its earnings results on Thursday, October 17th. The bank reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.18). Middlefield Banc had a return on equity of 6.86% and a net margin of 13.31%. The company had revenue of $16.82 million during the quarter, compared to analysts’ expectations of $17.10 million. On average, sell-side analysts predict that Middlefield Banc Corp. will post 1.79 earnings per share for the current fiscal year.

Middlefield Banc Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a dividend of $0.20 per share. The ex-dividend date was Friday, November 29th. This represents a $0.80 dividend on an annualized basis and a yield of 2.69%. Middlefield Banc’s payout ratio is 45.45%.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Middlefield Banc from $30.00 to $32.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. StockNews.com raised Middlefield Banc from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th.

Middlefield Banc 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.