Middlefield Banc Corp. Plans Quarterly Dividend of $0.21 (NASDAQ:MBCN)

Middlefield Banc Corp. (NASDAQ:MBCN) declared a quarterly dividend on Monday, May 12th, RTT News reports. Stockholders of record on Friday, May 30th will be paid a dividend of 0.21 per share by the bank on Friday, June 13th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.84%.

Middlefield Banc has increased its dividend payment by an average of 7.2% annually over the last three years and has increased its dividend every year for the last 1 years. Middlefield Banc has a dividend payout ratio of 38.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Middlefield Banc to earn $2.12 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 39.6%.

Middlefield Banc Trading Up 0.3%

Shares of MBCN stock traded up $0.09 during mid-day trading on Tuesday, reaching $29.60. The company’s stock had a trading volume of 209 shares, compared to its average volume of 9,915. The company’s 50 day simple moving average is $26.25 and its 200-day simple moving average is $27.48. Middlefield Banc has a 12-month low of $20.61 and a 12-month high of $34.00. 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 firm has a market capitalization of $239.16 million, a PE ratio of 15.41 and a beta of 0.40.

Middlefield Banc (NASDAQ:MBCN) last released its quarterly earnings results on Thursday, April 24th. The bank reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.12. Middlefield Banc had a net margin of 14.31% and a return on equity of 7.47%. The firm had revenue of $18.04 million for the quarter, compared to the consensus estimate of $17.23 million. On average, research analysts predict that Middlefield Banc will post 1.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MBCN. StockNews.com raised shares of Middlefield Banc from a “sell” rating to a “hold” rating in a research note on Thursday, April 17th. Hovde Group decreased their price objective on shares of Middlefield Banc from $28.00 to $25.00 and set a “market perform” rating for the company in a report on Monday, January 27th.

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.