Huntington National Bank Has $1.07 Million Stock Position in Middlefield Banc Corp. (NASDAQ:MBCN)

Huntington National Bank raised its holdings in shares of Middlefield Banc Corp. (NASDAQ:MBCN) by 10.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,290 shares of the bank’s stock after purchasing an additional 3,508 shares during the period. Huntington National Bank owned 0.47% of Middlefield Banc worth $1,074,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Geode Capital Management LLC raised its stake in shares of Middlefield Banc by 0.8% during the third quarter. Geode Capital Management LLC now owns 165,355 shares of the bank’s stock worth $4,763,000 after buying an additional 1,368 shares during the last quarter. State Street Corp raised its position in shares of Middlefield Banc by 0.9% during the 3rd quarter. State Street Corp now owns 102,516 shares of the bank’s stock valued at $2,952,000 after acquiring an additional 963 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Middlefield Banc by 112.1% in the 4th quarter. JPMorgan Chase & Co. now owns 25,831 shares of the bank’s stock valued at $725,000 after purchasing an additional 13,651 shares during the period. Empowered Funds LLC boosted its position in shares of Middlefield Banc by 4.4% in the 4th quarter. Empowered Funds LLC now owns 17,265 shares of the bank’s stock worth $484,000 after purchasing an additional 729 shares during the last quarter. Finally, Barclays PLC increased its holdings in Middlefield Banc by 69.2% in the third quarter. Barclays PLC now owns 16,916 shares of the bank’s stock valued at $487,000 after purchasing an additional 6,918 shares during the last quarter. Institutional investors own 31.72% of the company’s stock.

Middlefield Banc Trading Down 9.2 %

NASDAQ:MBCN opened at $24.74 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.97 and a quick ratio of 0.97. The business’s 50-day simple moving average is $26.22 and its 200-day simple moving average is $27.97. Middlefield Banc Corp. has a fifty-two week low of $20.61 and a fifty-two week high of $34.00. The stock has a market capitalization of $199.92 million, a PE ratio of 12.89 and a beta of 0.41.

Middlefield Banc (NASDAQ:MBCN) last released its earnings results on Thursday, January 23rd. The bank reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. Middlefield Banc had a return on equity of 7.47% and a net margin of 14.31%. Sell-side analysts expect that Middlefield Banc Corp. will post 1.96 earnings per share for the current fiscal year.

Middlefield Banc Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend was Friday, February 28th. This is a positive change from Middlefield Banc’s previous quarterly dividend of $0.20. Middlefield Banc’s dividend payout ratio is presently 43.75%.

Wall Street Analyst Weigh In

Separately, Hovde Group reduced their target price on Middlefield Banc from $28.00 to $25.00 and set a “market perform” rating on the stock in a report on Monday, January 27th.

About Middlefield Banc

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.