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

Middlefield Banc Corp. (NASDAQ:MBCN) announced a quarterly dividend on Tuesday, November 19th,Wall Street Journal reports. Shareholders of record on Friday, November 29th will be paid a dividend of 0.20 per share by the bank on Friday, December 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend is Friday, November 29th.

Middlefield Banc has raised its dividend by an average of 10.1% per year over the last three years. Middlefield Banc has a payout ratio of 44.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Middlefield Banc to earn $1.86 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 43.0%.

Middlefield Banc Trading Down 1.0 %

Shares of MBCN traded down $0.32 during trading on Wednesday, reaching $30.16. 1,856 shares of the company traded hands, compared to its average volume of 10,441. Middlefield Banc has a twelve month low of $20.61 and a twelve month high of $37.00. The stock has a market cap of $243.39 million, a PE ratio of 17.32 and a beta of 0.69. The stock has a 50-day simple moving average of $29.00 and a 200-day simple moving average of $25.63. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.06.

Middlefield Banc (NASDAQ:MBCN) last announced its quarterly earnings data on Thursday, October 17th. The bank reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.18). The business had revenue of $16.82 million during the quarter, compared to analyst estimates of $17.10 million. Middlefield Banc had a net margin of 13.31% and a return on equity of 6.86%. On average, analysts anticipate that Middlefield Banc will post 1.79 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Middlefield Banc from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th.

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.