Insider Selling: Middlefield Banc Corp (MBCN) Insider Sells 500 Shares of Stock

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Middlefield Banc Corp (NASDAQ:MBCN) insider Teresa M. Hetrick sold 500 shares of the firm’s stock in a transaction on Tuesday, November 6th. The shares were sold at an average price of $45.73, for a total transaction of $22,865.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Middlefield Banc stock traded up $0.52 during midday trading on Wednesday, hitting $46.25. 262 shares of the stock were exchanged, compared to its average volume of 3,035. Middlefield Banc Corp has a 1 year low of $42.95 and a 1 year high of $54.90. The company has a market capitalization of $148.37 million, a price-to-earnings ratio of 14.10 and a beta of 0.20. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.99 and a quick ratio of 0.99.

Middlefield Banc (NASDAQ:MBCN) last released its quarterly earnings results on Wednesday, October 17th. The bank reported $1.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.05. Middlefield Banc had a net margin of 21.86% and a return on equity of 9.20%. The firm had revenue of $11.20 million for the quarter, compared to the consensus estimate of $11.14 million. Analysts forecast that Middlefield Banc Corp will post 3.76 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the stock. Martingale Asset Management L P purchased a new stake in Middlefield Banc during the 2nd quarter worth $710,000. Renaissance Technologies LLC increased its stake in Middlefield Banc by 366.0% during the 2nd quarter. Renaissance Technologies LLC now owns 20,972 shares of the bank’s stock worth $1,063,000 after buying an additional 16,472 shares during the period. Dimensional Fund Advisors LP increased its stake in Middlefield Banc by 222.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 24,324 shares of the bank’s stock worth $1,233,000 after buying an additional 16,788 shares during the period. Carnegie Capital Asset Management LLC increased its stake in Middlefield Banc by 11.9% during the 2nd quarter. Carnegie Capital Asset Management LLC now owns 100,056 shares of the bank’s stock worth $5,085,000 after buying an additional 10,649 shares during the period. Finally, Wells Fargo & Company MN increased its stake in Middlefield Banc by 147.1% during the 1st quarter. Wells Fargo & Company MN now owns 9,100 shares of the bank’s stock worth $447,000 after buying an additional 5,417 shares during the period. 31.34% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have recently commented on MBCN. ValuEngine downgraded shares of Middlefield Banc from a “hold” rating to a “sell” rating in a research note on Friday, November 2nd. Boenning Scattergood set a $57.00 target price on shares of Middlefield Banc and gave the company a “buy” rating in a research note on Thursday, October 18th. Finally, Zacks Investment Research downgraded shares of Middlefield Banc from a “buy” rating to a “hold” rating in a research note on Thursday, September 20th.

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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 accepts checking, savings, negotiable order of withdrawal, and money market accounts, as well as time certificates of deposit and IRA accounts.

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