Middlefield Banc (MBCN) AI Stock Analysis

• Market Cap: $264.52M
• Dividend Yield: 2.58%
• Average Volume (3M): 6.75K
• Price to Earnings (P/E): 12.5
• Beta (1Y): 1.11
• Revenue Growth: 7.13%
• EPS Growth: 48.87%
• Country: US
• Employees: 246
• Sector: Financial
• Sector Strength: 70
• Industry: Banks - Regional
• EPS (TTM): 0.65
• Shares Outstanding: 8,086,886
• 10 Day Avg. Volume: 6,596
• 30 Day Avg. Volume: 6,755
• PEG Ratio: -1.49
• Price to Book (P/B): 1.08
• Price to Sales (P/S): 2.09
• P/FCF Ratio: 13.57
• Enterprise Value/Market Cap: 1.08
• Enterprise Value/Revenue: 3.36
• Enterprise Value/Gross Profit: 5.05
• Enterprise Value/Ebitda: 14.31
• 1Y Price Target: $35.00
• Price Target Upside: 4.70% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 2
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 64 Neutral
• Price Target: $36.00 ▲(7.69% Upside)

Middlefield Banc's overall stock score is driven primarily by its stable technical analysis indicators, which show positive momentum. However, financial performance is a concern due to declining revenue growth and profitability. Valuation metrics are reasonable, providing some attractiveness to the stock. The absence of significant earnings call data or corporate events means these factors do not influence the score.

Middlefield Banc Business Overview & Revenue Model

Company Description

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 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 Money

Middlefield Banc generates revenue primarily through interest income from loans, which includes commercial loans, consumer loans, and mortgages. The company also earns fees from various banking services such as account maintenance, transaction fees, and wealth management services. Additionally, Middlefield Banc benefits from non-interest income sources, including service charges and investment securities. Strategic partnerships with local businesses and community organizations enhance its customer base and drive additional revenue. The bank's focus on local markets and personalized service helps maintain a loyal clientele, contributing positively to its overall earnings.

Middlefield Banc Financial Statement Overview

Summary

Middlefield Banc faces challenges with declining revenue growth and profitability, as reflected in the income statement. The balance sheet remains stable with low leverage, but declining returns are a concern. Cash flow analysis shows potential issues with cash generation. Overall, the company needs to address revenue growth and profitability to improve its financial health.

Income Statement

Middlefield Banc's income statement shows a significant decline in revenue growth with a TTM revenue growth rate of -75.52%. The gross profit margin is relatively strong at 64.51% TTM, but the net profit margin has decreased to 17.72% TTM. The EBIT and EBITDA margins are unusually high, indicating potential accounting or reporting anomalies. Overall, the income statement reflects challenges in maintaining revenue growth and profitability.

Balance Sheet

The balance sheet indicates a stable financial position with a low debt-to-equity ratio of 0.13 TTM, suggesting conservative leverage. However, the return on equity has decreased to 1.52% TTM, reflecting reduced profitability. The equity ratio remains strong, indicating a solid capital base. Overall, the balance sheet is stable but shows signs of declining returns.

Cash Flow

Cash flow analysis reveals a decline in free cash flow growth at -54.4% TTM, indicating potential cash generation issues. The operating cash flow to net income ratio is 0.26 TTM, suggesting moderate cash conversion efficiency. The free cash flow to net income ratio is healthy at 93.13% TTM. Overall, cash flow stability is a concern due to declining growth.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	85.08M	108.47M	96.99M	61.65M	59.58M	58.63M
Gross Profit	56.61M	65.89M	68.89M	56.92M	54.69M	39.54M
EBITDA	19.97M	19.50M	21.80M	19.04M	24.80M	11.78M
Net Income	15.84M	15.52M	17.37M	15.67M	18.63M	8.35M
Balance Sheet
Total Assets	1.98B	1.85B	1.82B	1.69B	1.33B	1.39B
Cash, Cash Equivalents and Short-Term Investments	0.00	211.84M	227.18M	216.37M	267.37M	207.23M
Total Debt	117.50M	184.06M	174.86M	77.78M	13.78M	13.83M
Total Liabilities	1.75B	1.64B	1.62B	1.49B	1.19B	1.25B
Stockholders Equity	224.12M	210.56M	205.68M	197.69M	145.34M	143.81M
Cash Flow
Free Cash Flow	19.93M	16.69M	21.26M	17.48M	14.82M	14.01M
Operating Cash Flow	20.33M	17.47M	22.36M	18.36M	15.42M	15.08M
Investing Cash Flow	-93.12M	-43.29M	-126.54M	-8.61M	70.89M	-135.32M
Financing Cash Flow	102.62M	20.78M	111.21M	-75.36M	-79.23M	197.55M

Middlefield Banc Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 33.43
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: 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 33.43 is above the 20-day moving average (MA) of 33.37, above the 50-day MA of 31.62, and above the 200-day MA of 28.85, indicating a bullish trend. The MACD of 0.59 indicates Positive momentum. The RSI at 61.10 is Neutral, neither overbought nor oversold. The STOCH value of 70.55 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MBCN.

Middlefield Banc Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
OVLY	72 Outperform	$230.09M	9.63	12.29%	2.15%	5.50%	-5.19%
NWFL	71 Outperform	$257.82M	42.51	3.56%	4.36%	-4.66%	-58.94%
WNEB	69 Neutral	$251.23M	18.76	5.51%	2.33%	7.37%	27.35%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
FUNC	67 Neutral	$239.28M	9.60	13.36%	2.50%	11.72%	55.87%
MBCN	64 Neutral	$264.52M	12.55	9.73%	2.58%	7.13%	48.87%

Middlefield Banc Corporate Events

Middlefield Banc Announces Merger with Farmers National

On October 22, 2025, Middlefield Banc Corp. announced a merger agreement with Farmers National Banc Corp., where Middlefield will merge into Farmers, making Farmers the surviving entity. This merger will see Middlefield Bank merge into Farmers Bank, with the latter as the surviving bank. The merger agreement outlines an exchange ratio for Middlefield’s shareholders and includes provisions for the integration of board members from Middlefield into Farmers’ board. The merger is subject to various conditions, including shareholder and regulatory approvals, and is expected to close in the first quarter of 2026. The agreement also details termination rights and a termination fee if certain conditions are not met.

The most recent analyst rating on (MBCN) stock is a Buy with a $38.00 price target. To see the full list of analyst forecasts on Middlefield Banc stock, see the MBCN Stock Forecast page.

Middlefield Banc Corp Reports Strong 2025 Financial Growth

Middlefield Banc Corp, a community bank holding company headquartered in Middlefield, Ohio, operates The Middlefield Banking Company with a network of 21 full-service banking centers across Ohio. The bank focuses on providing a range of financial services, including commercial and industrial loans, residential real estate loans, and investment services.

Middlefield Banc Announces Merger with Farmers National

On October 22, 2025, Middlefield Banc Corp. announced a merger agreement with Farmers National Banc Corp., which will result in Middlefield merging into Farmers in an all-stock transaction valued at approximately $299 million. This merger aims to create a leading community banking franchise in the Midwest with over $7 billion in total assets and 83 branches across Ohio and Pennsylvania. The merger is expected to enhance profitability and competitive positioning, with the transaction anticipated to close by the end of the first quarter of 2026, pending shareholder and regulatory approvals. This strategic move is expected to expand Farmers’ footprint in Ohio, particularly in the Columbus region, and strengthen its foundation for long-term shareholder value.

The most recent analyst rating on (MBCN) stock is a Hold with a $31.00 price target. To see the full list of analyst forecasts on Middlefield Banc stock, see the MBCN Stock Forecast page.