Redmont Wealth Advisors LLC Makes New Investment in Middlefield Banc Corp. $MBCN

Redmont Wealth Advisors LLC purchased a new position in Middlefield Banc Corp. (NASDAQ:MBCN) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 26,466 shares of the bank’s stock, valued at approximately $794,000. Middlefield Banc accounts for 1.1% of Redmont Wealth Advisors LLC’s holdings, making the stock its 25th biggest position. Redmont Wealth Advisors LLC owned approximately 0.33% of Middlefield Banc at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of MBCN. Elizabeth Park Capital Advisors Ltd. grew its position in Middlefield Banc by 211.2% in the 2nd quarter. Elizabeth Park Capital Advisors Ltd. now owns 86,307 shares of the bank’s stock valued at $2,599,000 after acquiring an additional 58,576 shares during the last quarter. Fisher Asset Management LLC purchased a new position in Middlefield Banc in the 2nd quarter worth about $1,056,000. Prospera Financial Services Inc purchased a new stake in Middlefield Banc in the 3rd quarter valued at about $400,000. Hsbc Holdings PLC bought a new position in Middlefield Banc in the 2nd quarter worth about $307,000. Finally, Jane Street Group LLC purchased a new position in shares of Middlefield Banc during the second quarter worth approximately $243,000. Hedge funds and other institutional investors own 31.72% of the company’s stock.

Middlefield Banc Stock Performance

MBCN stock opened at $34.60 on Thursday. Middlefield Banc Corp. has a one year low of $22.74 and a one year high of $37.67. The firm has a market cap of $279.91 million, a price-to-earnings ratio of 14.48 and a beta of 0.38. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a 50-day simple moving average of $34.95 and a two-hundred day simple moving average of $32.63.

Middlefield Banc (NASDAQ:MBCN) last released its quarterly earnings results on Tuesday, February 10th. The bank reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.27). The firm had revenue of $19.34 million during the quarter, compared to analysts’ expectations of $19.97 million. Middlefield Banc had a return on equity of 8.91% and a net margin of 16.65%. On average, equities analysts forecast that Middlefield Banc Corp. will post 1.96 EPS for the current fiscal year.

Middlefield Banc Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Tuesday, February 17th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, February 17th. Middlefield Banc’s dividend payout ratio (DPR) is currently 35.15%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $35.00 price target (up previously from $32.00) on shares of Middlefield Banc in a report on Thursday, October 23rd. Zacks Research upgraded Middlefield Banc from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 20th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Middlefield Banc in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Middlefield Banc currently has a consensus rating of “Hold” and a consensus price target of $35.00.

Middlefield Banc Company Profile

Middlefield Banc is a bank holding company headquartered in Middlefield, Ohio, operating through its subsidiary, Middlefield Banking Company. The firm offers a suite of deposit products, including checking, savings, money market accounts and certificates of deposit, alongside comprehensive cash management solutions designed for both individual consumers and businesses.

On the lending side, Middlefield Banc specializes in commercial and residential real estate loans, consumer installment loans and lines of credit.