Redmont Wealth Advisors LLC Sells 4,098 Shares of Middlefield Banc Corp. (NASDAQ:MBCN)

Redmont Wealth Advisors LLC trimmed its position in shares of Middlefield Banc Corp. (NASDAQ:MBCN) by 12.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,028 shares of the bank’s stock after selling 4,098 shares during the quarter. Middlefield Banc accounts for approximately 1.3% of Redmont Wealth Advisors LLC’s holdings, making the stock its 17th largest position. Redmont Wealth Advisors LLC owned approximately 0.35% of Middlefield Banc worth $907,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Royal Bank of Canada bought a new stake in shares of Middlefield Banc during the 2nd quarter valued at $29,000. Rockefeller Capital Management L.P. purchased a new stake in Middlefield Banc in the fourth quarter worth about $54,000. BNP Paribas Arbitrage SNC bought a new position in shares of Middlefield Banc in the second quarter worth about $55,000. California State Teachers Retirement System purchased a new position in shares of Middlefield Banc during the 2nd quarter valued at about $70,000. Finally, Bank of America Corp DE bought a new position in shares of Middlefield Banc during the 4th quarter valued at approximately $74,000. 31.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Middlefield Banc

In other news, Director Michael C. Voinovich bought 1,000 shares of Middlefield Banc stock in a transaction dated Friday, February 2nd. The shares were purchased at an average cost of $26.67 per share, with a total value of $26,670.00. Following the completion of the acquisition, the director now owns 8,253 shares of the company’s stock, valued at approximately $220,107.51. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.81% of the stock is currently owned by corporate insiders.

Middlefield Banc Price Performance

MBCN stock traded down $0.03 during trading on Friday, reaching $22.11. The company’s stock had a trading volume of 7,650 shares, compared to its average volume of 10,453. The company has a market capitalization of $178.43 million, a P/E ratio of 10.44 and a beta of 0.62. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.06. The company’s fifty day moving average is $23.90 and its 200-day moving average is $27.18. Middlefield Banc Corp. has a 1 year low of $21.85 and a 1 year high of $37.00.

Middlefield Banc (NASDAQ:MBCN) last issued its earnings results on Friday, January 26th. The bank reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.06). Middlefield Banc had a net margin of 17.91% and a return on equity of 8.76%. The business had revenue of $25.69 million for the quarter, compared to the consensus estimate of $17.80 million. On average, research analysts expect that Middlefield Banc Corp. will post 1.68 earnings per share for the current fiscal year.

Middlefield Banc Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.62%. Middlefield Banc’s dividend payout ratio is 37.38%.

Wall Street Analysts Forecast Growth

Separately, Hovde Group started coverage on shares of Middlefield Banc in a report on Monday, April 1st. They set a “market perform” rating and a $25.00 price target on the stock.

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.