On Aug 21, 2013, Zacks Investment Research upgraded
Middleburg Financial Corporation
) to Zacks Rank #1 (Strong Buy).
FARMERS CAP KY (FFKT): Free Stock Analysis
FIRST M & F CRP (FMFC): Get Free Report
MIDDLEBURG FINL (MBRG): Free Stock Analysis
PINNACLE FIN PT (PNFP): Free Stock Analysis
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Why the Upgrade?
Middleburg Financial's impressive second-quarter 2013 results,
along with its recent dividend hike primarily drove the rating
On Aug 2, Middleburg Financial reported earnings of 29 cents per
share, rising 16.0% from the prior-year quarter and beating the
Zacks Consensus Estimate of 18 cents. Moreover, net income
increased 18.3% year over year to $2.1 million. Notably, this
marked the company's best quarterly net income figure since 2006.
The boost in earnings was primarily aided by augmented loan
growth, expense reduction and an improvement in credit quality on
a year-over-year basis. Moreover, the company's capital ratios
remained well above the minimum regulatory requirements.
Further, on Jul 31, Middleburg Financial declared a cash dividend
of 7 cents per share, up 40% from the prior-year period. The
dividend will be paid on Aug 30 to stockholders of record as of
Going forward, with its healthy loan pipeline and growth in
wealth management operations, Middleburg Financial is well
positioned to capitalize on the resurgent global economy
characterized by increasing overall loan demand.
During the last 30 days, the Zacks Consensus Estimate for 2013
increased 22.7% to 92 cents share. For 2014, the Zacks Consensus
Estimate advanced 5.7% to 92 cents per share over the same time
Other Stocks to Consider
Apart from Middleburg Financial Corporation, other banks worth
Farmers Capital Bank Corporation
First M&F Corporation
Pinnacle Financial Partners Inc.
). All these stocks carry a Zacks Rank #1.