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Middlefield Banc Corp (MBCN)
NASDAQ:MBCN
US Market
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Middlefield Banc (MBCN) AI Stock Analysis

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MBCN

Middlefield Banc

(NASDAQ:MBCN)

Rating:79Outperform
Price Target:
$35.00
â–²(15.70%Upside)
Middlefield Banc's strong financial performance, technical momentum, and strategic corporate actions contribute to a solid stock score. While financial leverage remains a risk, the overall outlook is positive with growth-oriented strategies and shareholder commitment.

Middlefield Banc (MBCN) vs. SPDR S&P 500 ETF (SPY)

Middlefield Banc Business Overview & Revenue Model

Company DescriptionMiddlefield 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 provides 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. The company also offers operational and working capital, term business, residential construction, professional, and residential and mortgage loans, as well as consumer installment loans for home improvements, automobiles, boats, and other personal expenditures; loans to finance capital purchases; selected guaranteed or subsidized loan programs for small businesses; and agricultural loans. Further, it provides official checks, money orders, ATM services, as well as IRA accounts; online banking and bill payment services to individuals; and online cash management services to business customers. In addition, the company resolves and disposes troubled assets in Ohio. As of December 31, 2021, it has 17 banking centers in Chardon, Newbury, and Middlefield, Garrettsville, Mantua, Orwell, Cortland, Dublin, Westerville, Sunbury, Powell, Beachwood, Solon, Twinsburg, and Plain City; as well as an administrative office in Middlefield, and a loan production office in Mentor. Middlefield Banc Corp. was founded in 1901 and is headquartered in Middlefield, Ohio.
How the Company Makes MoneyMiddlefield Banc Corp generates revenue primarily through interest income from its lending activities. The bank extends various types of loans, including residential mortgages, commercial real estate loans, and consumer loans, and earns interest on these loans. Additionally, MBCN earns non-interest income through service charges on deposit accounts, fees from financial advisory and wealth management services, and other banking-related fees. The company's earnings are also supported by strategic partnerships with financial service providers that enhance its product offerings and market reach.

Middlefield Banc Financial Statement Overview

Summary
Middlefield Banc shows consistent revenue growth and healthy profitability. However, increasing leverage is a concern. Effective cash management and stable equity position strengthen financial stability, but operational efficiency could improve.
Income Statement
78
Positive
Middlefield Banc has demonstrated consistent revenue growth, with a 13.04% increase from 2023 to 2024. Gross profit margins have remained stable, reflecting efficient cost management. However, the EBIT margin showed a slight decline, suggesting room for improvement in operational efficiency. Net profit margins are healthy, indicating robust profitability.
Balance Sheet
72
Positive
The company maintains a strong equity position with an equity ratio of 11.32% as of TTM, which is considered healthy for a regional bank. The debt-to-equity ratio has increased over time, posing a potential risk if leverage continues to rise. Return on equity remains impressive, highlighting effective utilization of shareholder funds.
Cash Flow
80
Positive
Operating cash flow has increased, showing positive cash generation capability. The free cash flow to net income ratio is strong, indicating effective cash management. However, fluctuations in investing and financing cash flows suggest some volatility in cash flow activities.
BreakdownDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue108.47M96.99M61.65M59.58M58.63M
Gross Profit65.89M68.89M56.92M54.69M39.54M
EBITDA19.50M21.80M19.04M24.80M11.78M
Net Income15.52M17.37M15.67M18.63M8.35M
Balance Sheet
Total Assets1.85B1.82B1.69B1.33B1.39B
Cash, Cash Equivalents and Short-Term Investments211.84M227.18M216.37M267.37M207.23M
Total Debt184.06M175.43M77.06M13.78M13.83M
Total Liabilities1.64B1.62B1.49B1.19B1.25B
Stockholders Equity210.56M205.68M197.69M145.34M143.81M
Cash Flow
Free Cash Flow16.69M21.26M17.48M14.82M14.01M
Operating Cash Flow17.47M22.36M18.36M15.42M15.08M
Investing Cash Flow-43.29M-126.54M-8.61M70.89M-135.32M
Financing Cash Flow20.78M111.21M-75.36M-79.23M197.55M

Middlefield Banc Technical Analysis

Technical Analysis Sentiment
Positive
Last Price30.25
Price Trends
50DMA
29.75
Positive
100DMA
27.94
Positive
200DMA
27.86
Positive
Market Momentum
MACD
0.25
Positive
RSI
50.28
Neutral
STOCH
76.17
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MBCN, the sentiment is Positive. The current price of 30.25 is below the 20-day moving average (MA) of 30.58, above the 50-day MA of 29.75, and above the 200-day MA of 27.86, indicating a neutral trend. The MACD of 0.25 indicates Positive momentum. The RSI at 50.28 is Neutral, neither overbought nor oversold. The STOCH value of 76.17 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MBCN.

Middlefield Banc Risk Analysis

Middlefield Banc disclosed 33 risk factors in its most recent earnings report. Middlefield Banc reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 3 New Risks
1.
The market price of our common stock may be subject to substantial fluctuations, which may make it difficult for you to sell your shares at the volume, prices and times desired. Q4, 2024
2.
Failure to maintain effective internal controls over financial reporting could impair our ability to accurately and timely report our financial results and could increase the risk of fraud. Q4, 2024
3.
Our business is subject to fraud attempts. Q4, 2024

Middlefield Banc Peers Comparison

Overall Rating
UnderperformOutperform
Sector (68)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
79
Outperform
$244.46M14.198.60%2.71%7.42%15.82%
78
Outperform
$221.44M10.468.29%5.63%14.84%170.41%
76
Outperform
$232.23M11.2810.50%4.20%14.11%29.41%
75
Outperform
$218.54M19.814.43%3.80%10.64%-56.22%
68
Neutral
$17.10B11.449.70%3.58%11.11%-4.78%
65
Neutral
$253.05M22.705.14%2.39%-6.64%-52.40%
60
Neutral
$220.08M18.326.62%3.34%-6.85%-51.70%
* Financial Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
MBCN
Middlefield Banc
30.25
2.21
7.88%
EVBN
Evans Bancorp
39.53
6.79
20.74%
LCNB
LCNB
15.63
0.92
6.25%
PWOD
Penns Woods Bancorp
30.50
8.42
38.13%
CHMG
Chemung Financial
52.82
5.28
11.11%
BPRN
Bank of Princeton
31.54
-4.85
-13.33%

Middlefield Banc Corporate Events

Executive/Board ChangesM&A TransactionsBusiness Operations and Strategy
Middlefield Banc Appoints New Leadership for Growth
Positive
Jun 2, 2025

Middlefield Banc Corp. has announced a strategic focus on growth through the appointment of new leadership and the integration of Liberty Bancshares, which was acquired in December 2022. The company is well-positioned for future expansion, particularly in the Columbus region, which is experiencing significant economic development with major investments from companies like Intel and Amazon. This growth strategy is expected to enhance Middlefield’s competitive advantage and strengthen its market position in Ohio.

The most recent analyst rating on (MBCN) stock is a Hold with a $30.00 price target. To see the full list of analyst forecasts on Middlefield Banc stock, see the MBCN Stock Forecast page.

Executive/Board ChangesShareholder Meetings
Middlefield Banc Holds Annual Shareholder Meeting
Neutral
May 19, 2025

On May 14, 2025, Middlefield Banc Corp. held its Annual Meeting of Shareholders where four proposals were voted upon. These included the election of three directors, approval of executive compensation, frequency of future advisory votes on executive compensation, and ratification of the appointment of S.R. Snodgrass, P.C. as independent auditor. The board decided to hold annual advisory votes on executive compensation.

The most recent analyst rating on (MBCN) stock is a Hold with a $30.00 price target. To see the full list of analyst forecasts on Middlefield Banc stock, see the MBCN Stock Forecast page.

DividendsBusiness Operations and Strategy
Middlefield Banc Announces Quarterly Dividend Approval
Positive
May 12, 2025

On May 12, 2025, Middlefield Banc Corp. announced that its Board of Directors approved a quarterly cash dividend of $0.21 per common share, consistent with the previous quarter’s dividend. This dividend will be payable on June 13, 2025, to shareholders recorded by May 30, 2025. The announcement reflects the company’s stable financial strategy and commitment to shareholder returns.

The most recent analyst rating on (MBCN) stock is a Hold with a $30.00 price target. To see the full list of analyst forecasts on Middlefield Banc stock, see the MBCN Stock Forecast page.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jun 22, 2025