Middlefield Banc Corp. (NASDAQ:MBCN) Declares $0.20 Quarterly Dividend

Middlefield Banc Corp. (NASDAQ:MBCN) declared a quarterly dividend on Monday, August 12th, Zacks reports. Stockholders of record on Friday, August 30th will be paid a dividend of 0.20 per share by the bank on Friday, September 13th. This represents a $0.80 annualized dividend and a dividend yield of 2.93%. The ex-dividend date is Friday, August 30th.

Middlefield Banc has increased its dividend by an average of 10.1% annually over the last three years. Middlefield Banc has a payout ratio of 46.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Middlefield Banc to earn $1.75 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 45.7%.

Middlefield Banc Stock Performance

Shares of MBCN opened at $27.29 on Thursday. The stock has a 50-day moving average price of $24.37 and a 200-day moving average price of $23.53. The company has a market cap of $220.15 million, a PE ratio of 13.31 and a beta of 0.66. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.06. Middlefield Banc has a 12-month low of $20.61 and a 12-month high of $37.00.

Middlefield Banc (NASDAQ:MBCN) last announced its quarterly earnings data on Thursday, July 18th. The bank reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.10. Middlefield Banc had a return on equity of 7.79% and a net margin of 15.06%. The firm had revenue of $27.36 million during the quarter, compared to the consensus estimate of $16.80 million. As a group, equities analysts forecast that Middlefield Banc will post 1.95 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MBCN. Hovde Group cut their price target on shares of Middlefield Banc from $25.00 to $23.00 and set a “market perform” rating on the stock in a report on Wednesday, May 1st. Keefe, Bruyette & Woods restated a “market perform” rating and set a $25.00 target price (down previously from $30.00) on shares of Middlefield Banc in a report on Thursday, May 2nd. Finally, StockNews.com upgraded Middlefield Banc from a “sell” rating to a “hold” rating in a report on Thursday, May 30th.

Middlefield Banc Company 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.