Middlefield Banc (MBCN) Declares $0.20 Dividend
Middlefield Banc said on May 9, 2023 that its board of directors declared a regular quarterly dividend of $0.20 per share ($0.80 annualized). Previously, the company paid $0.20 per share.
Shares must be purchased before the ex-div date of June 1, 2023 to qualify for the dividend. Shareholders of record as of June 2, 2023 will receive the payment on June 15, 2023.
At the current share price of $23.75 / share, the stock's dividend yield is 3.37%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.72%, the lowest has been 2.08%, and the highest has been 4.59%. The standard deviation of yields is 0.35 (n=233).
The current dividend yield is 1.85 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.39. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.33%, demonstrating that it has increased its dividend over time.
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What is the Fund Sentiment?
There are 77 funds or institutions reporting positions in Middlefield Banc. This is an increase of 6 owner(s) or 8.45% in the last quarter. Average portfolio weight of all funds dedicated to MBCN is 0.10%, an increase of 48.61%. Total shares owned by institutions increased in the last three months by 1.39% to 1,663K shares.
Analyst Price Forecast Suggests 20.25% Upside
As of May 11, 2023, the average one-year price target for Middlefield Banc is 28.56. The forecasts range from a low of 27.27 to a high of $30.45. The average price target represents an increase of 20.25% from its latest reported closing price of 23.75.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Middlefield Banc is 83MM, an increase of 34.83%. The projected annual non-GAAP EPS is 3.08.
What are Other Shareholders Doing?
Ancora Advisors holds 366K shares representing 4.52% ownership of the company. In it's prior filing, the firm reported owning 403K shares, representing a decrease of 10.25%. The firm decreased its portfolio allocation in MBCN by 14.53% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 214K shares representing 2.65% ownership of the company. In it's prior filing, the firm reported owning 130K shares, representing an increase of 39.30%. The firm increased its portfolio allocation in MBCN by 53.81% over the last quarter.
Fourthstone holds 107K shares representing 1.33% ownership of the company. In it's prior filing, the firm reported owning 206K shares, representing a decrease of 92.23%. The firm decreased its portfolio allocation in MBCN by 56.96% over the last quarter.
VEXMX - Vanguard Extended Market Index Fund Investor Shares holds 92K shares representing 1.13% ownership of the company. In it's prior filing, the firm reported owning 92K shares, representing a decrease of 0.48%. The firm decreased its portfolio allocation in MBCN by 3.03% over the last quarter.
Strategic Value Bank Partners holds 52K shares representing 0.65% ownership of the company. In it's prior filing, the firm reported owning 53K shares, representing a decrease of 0.96%. The firm decreased its portfolio allocation in MBCN by 99.91% over the last quarter.
Middlefield Banc Background Information
(This description is provided by the company.)
Middlefield Banc Corp., headquartered in Middlefield, Ohio, is the bank holding company of The Middlefield Banking Company with total assets of $1.36 billion at September 30, 2020. The bank operates 16 full-service banking centers and an LPL Financial® brokerage office serving Beachwood, Chardon, Cortland, Dublin, Garrettsville, Mantua, Middlefield, Newbury, Orwell, Plain City, Powell, Solon, Sunbury, Twinsburg, and Westerville. The Bank also operates a Loan Production Office in Mentor, Ohio.
This story originally appeared on Fintel.