Middlefield Banc Corp. (MBCN) to Issue Quarterly Dividend of $0.21 on June 13th

Middlefield Banc Corp. (NASDAQ:MBCN) announced a quarterly dividend on Monday, May 12th, RTT News reports. Shareholders 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 yield of 2.80%. The ex-dividend date of this dividend is Friday, May 30th.

Middlefield Banc has raised its dividend payment by an average of 7.2% per year over the last three years and has raised its dividend every year for the last 1 years. Middlefield Banc has a dividend payout ratio of 38.4% meaning its dividend is sufficiently covered by earnings. Equities 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 1.6%

Shares of Middlefield Banc stock opened at $29.98 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a 50-day simple moving average of $26.34 and a two-hundred day simple moving average of $27.50. The company has a market cap of $242.27 million, a P/E ratio of 15.61 and a beta of 0.40. Middlefield Banc has a fifty-two week low of $20.61 and a fifty-two week high of $34.00.

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

Wall Street Analyst Weigh In

A number of research firms have commented on MBCN. Hovde Group decreased their target price on Middlefield Banc from $28.00 to $25.00 and set a “market perform” rating on the stock in a research report on Monday, January 27th. StockNews.com upgraded Middlefield Banc from a “sell” rating to a “hold” rating in a report on Thursday, April 17th.

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.