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Middlefield Banc

Nasdaq:MBCN
Snowflake Description

Excellent balance sheet average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MBCN
Nasdaq
$129M
Market Cap
  1. Home
  2. US
  3. Banks
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. The last earnings update was 43 days ago. More info.


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MBCN Share Price and Events
7 Day Returns
1.1%
NasdaqCM:MBCN
0.1%
US Banks
1.2%
US Market
1 Year Returns
-26%
NasdaqCM:MBCN
-7.6%
US Banks
2.3%
US Market
MBCN Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Middlefield Banc (MBCN) 1.1% 1% -5.5% -26% 24% 39.2%
US Banks 0.1% 0.5% 0.7% -7.6% 45.6% 41.7%
US Market 1.2% 2% 2% 2.3% 37.9% 39.8%
1 Year Return vs Industry and Market
  • MBCN underperformed the Banks industry which returned -7.6% over the past year.
  • MBCN underperformed the Market in United States of America which returned 2.3% over the past year.
Price Volatility
MBCN
Industry
5yr Volatility vs Market

MBCN Value

 Is Middlefield Banc undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Middlefield Banc to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Middlefield Banc.

NasdaqCM:MBCN Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $36.86 * 7.4%
$2.72
Book Value of Equity per Share Median Book Value from the past 5 years. $36.86
Discount Rate (Cost of Equity) See below 8.6%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqCM:MBCN
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.59
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.594 (1 + (1- 21%) (80.92%))
0.983
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.98
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.983 * 5.96%)
8.59%

Discounted Cash Flow Calculation for NasdaqCM:MBCN using Excess Returns Model Model

The calculations below outline how an intrinsic value for Middlefield Banc is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NasdaqCM:MBCN Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (7.4% – 8.59%) * $36.86)
$-0.45
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $-0.45 / (8.59% - 2.73%)
$-7.69
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $36.86 + $-7.69
$29.17
NasdaqCM:MBCN Discount to Share Price
Calculation Result
Value per share (USD) From above. $29.17
Current discount Discount to share price of $39.68
= -1 x ($39.68 - $29.17) / $29.17
-36%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Middlefield Banc is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Middlefield Banc's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Middlefield Banc's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqCM:MBCN PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $3.97
NasdaqCM:MBCN Share Price ** NasdaqCM (2019-06-19) in USD $39.68
United States of America Banks Industry PE Ratio Median Figure of 600 Publicly-Listed Banks Companies 12.75x
United States of America Market PE Ratio Median Figure of 3,092 Publicly-Listed Companies 17.87x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Middlefield Banc.

NasdaqCM:MBCN PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqCM:MBCN Share Price ÷ EPS (both in USD)

= 39.68 ÷ 3.97

10.01x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Middlefield Banc is good value based on earnings compared to the US Banks industry average.
  • Middlefield Banc is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Middlefield Banc's expected growth come at a high price?
Raw Data
NasdaqCM:MBCN PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 10.01x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
4.5%per year
United States of America Banks Industry PEG Ratio Median Figure of 272 Publicly-Listed Banks Companies 1.37x
United States of America Market PEG Ratio Median Figure of 2,128 Publicly-Listed Companies 1.53x

*Line of best fit is calculated by linear regression .

NasdaqCM:MBCN PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 10.01x ÷ 4.5%

2.21x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Middlefield Banc is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Middlefield Banc's assets?
Raw Data
NasdaqCM:MBCN PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $40.44
NasdaqCM:MBCN Share Price * NasdaqCM (2019-06-19) in USD $39.68
United States of America Banks Industry PB Ratio Median Figure of 603 Publicly-Listed Banks Companies 1.2x
United States of America Market PB Ratio Median Figure of 5,246 Publicly-Listed Companies 1.8x
NasdaqCM:MBCN PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqCM:MBCN Share Price ÷ Book Value per Share (both in USD)

= 39.68 ÷ 40.44

0.98x

* Primary Listing of Middlefield Banc.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Middlefield Banc is good value based on assets compared to the US Banks industry average.
X
Value checks
We assess Middlefield Banc's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. Middlefield Banc has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

MBCN Future Performance

 How is Middlefield Banc expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
4.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Middlefield Banc expected to grow at an attractive rate?
  • Middlefield Banc's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Middlefield Banc's earnings growth is positive but not above the United States of America market average.
  • Middlefield Banc's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqCM:MBCN Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqCM:MBCN Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 4.5%
NasdaqCM:MBCN Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 12.3%
United States of America Banks Industry Earnings Growth Rate Market Cap Weighted Average 3.9%
United States of America Banks Industry Revenue Growth Rate Market Cap Weighted Average 3.8%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.9%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqCM:MBCN Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqCM:MBCN Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 56 14 2
2019-12-31 52 13 2
NasdaqCM:MBCN Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 44 13 13
2018-12-31 43 14 12
2018-09-30 42 17 11
2018-06-30 42 22 11
2018-03-31 42 18 10
2017-12-31 41 14 9
2017-09-30 38 7 9
2017-06-30 35 0 8
2017-03-31 32 4 7
2016-12-31 29 8 6
2016-09-30 29 8 7
2016-06-30 29 9 7

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Middlefield Banc's earnings are expected to grow by 4.5% yearly, however this is not considered high growth (20% yearly).
  • Middlefield Banc's revenue is expected to grow by 12.3% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqCM:MBCN Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Middlefield Banc Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqCM:MBCN Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 4.23 4.28 4.18 2.00
2019-12-31 3.96 3.97 3.95 2.00
NasdaqCM:MBCN Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 3.97
2018-12-31 3.85
2018-09-30 3.53
2018-06-30 3.28
2018-03-31 3.15
2017-12-31 3.12
2017-09-30 3.13
2017-06-30 2.99
2017-03-31 3.05
2016-12-31 3.04
2016-09-30 3.23
2016-06-30 3.63

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Middlefield Banc will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Middlefield Banc's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Middlefield Banc has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

MBCN Past Performance

  How has Middlefield Banc performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Middlefield Banc's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Middlefield Banc's year on year earnings growth rate has been positive over the past 5 years.
  • Middlefield Banc's 1-year earnings growth exceeds its 5-year average (28.9% vs 12.7%)
  • Middlefield Banc's earnings growth has not exceeded the US Banks industry average in the past year (28.9% vs 40.4%).
Earnings and Revenue History
Middlefield Banc's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Middlefield Banc Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqCM:MBCN Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 43.98 12.84 22.97
2018-12-31 43.34 12.43 22.86
2018-09-30 42.40 11.39 21.96
2018-06-30 42.08 10.55 21.93
2018-03-31 41.54 9.96 21.51
2017-12-31 41.16 9.46 21.02
2017-09-30 38.27 8.73 20.12
2017-06-30 34.86 7.61 18.37
2017-03-31 32.17 7.03 17.06
2016-12-31 29.19 6.42 16.00
2016-09-30 29.23 6.51 15.72
2016-06-30 29.16 7.15 15.85
2016-03-31 28.79 6.72 15.98
2015-12-31 28.50 6.87 14.99
2015-09-30 28.15 7.00 15.34
2015-06-30 27.79 6.94 14.73
2015-03-31 27.37 7.05 14.38
2014-12-31 27.02 7.18 13.78
2014-09-30 27.07 7.11 13.96
2014-06-30 26.74 7.06 13.68
2014-03-31 26.23 7.13 13.20
2013-12-31 25.88 7.03 12.97
2013-09-30 23.98 6.48 12.18
2013-06-30 23.95 6.46 11.88
2013-03-31 23.98 6.42 11.81
2012-12-31 23.58 6.28 11.37
2012-09-30 23.55 6.34 11.35
2012-06-30 22.25 5.57 11.08

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Middlefield Banc has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Middlefield Banc used its assets less efficiently than the US Banks industry average last year based on Return on Assets.
  • Unable to establish if Middlefield Banc improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Middlefield Banc's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Middlefield Banc has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

MBCN Health

 How is Middlefield Banc's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of Middlefield Banc's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Middlefield Banc Company Filings, last reported 2 months ago.

NasdaqCM:MBCN Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 131.70 104.57 121.05
2018-12-31 128.29 99.20 90.63
2018-09-30 124.23 64.26 81.95
2018-06-30 122.72 106.83 71.25
2018-03-31 120.15 37.70 33.26
2017-12-31 119.86 103.77 24.09
2017-09-30 118.49 59.55 48.93
2017-06-30 117.20 102.73 39.57
2017-03-31 99.32 115.60 62.36
2016-12-31 76.96 77.80 29.60
2016-09-30 78.19 42.52 23.28
2016-06-30 77.58 52.08 22.13
2016-03-31 63.76 36.00 30.22
2015-12-31 62.30 45.76 16.85
2015-09-30 67.22 14.35 23.30
2015-06-30 64.81 14.98 22.65
2015-03-31 65.68 15.45 45.26
2014-12-31 63.87 25.43 18.84
2014-09-30 61.52 16.24 29.30
2014-06-30 59.17 18.30 25.58
2014-03-31 56.69 16.79 42.81
2013-12-31 53.47 22.42 18.79
2013-09-30 52.53 24.48 32.19
2013-06-30 52.55 18.04 40.43
2013-03-31 55.85 18.02 45.63
2012-12-31 55.44 19.51 38.25
2012-09-30 55.09 22.35 52.61
2012-06-30 53.16 23.32 42.86
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • Middlefield Banc has an acceptable proportion of non-loan assets held.
  • Middlefield Banc's liabilities are made up of primarily low risk sources of funding.
  • Loans at Middlefield Banc are broadly funded by customer deposits.
  • Middlefield Banc's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
  • Middlefield Banc has a low allowance for bad loans.
  • Middlefield Banc has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess Middlefield Banc's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Middlefield Banc has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

MBCN Dividends

 What is Middlefield Banc's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.82%
Current annual income from Middlefield Banc dividends. Estimated to be 2.92% next year.
If you bought $2,000 of Middlefield Banc shares you are expected to receive $56 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Middlefield Banc's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.44%).
  • Middlefield Banc's dividend is below the markets top 25% of dividend payers in United States of America (3.69%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqCM:MBCN Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
United States of America Banks Industry Average Dividend Yield Market Cap Weighted Average of 478 Stocks 2.9%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2011 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqCM:MBCN Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 1.20 1.00
2019-12-31 1.12 1.00
NasdaqCM:MBCN Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-02-12 1.120 2.743
2018-11-21 1.120 2.595
2018-08-14 1.120 2.357
2018-05-15 1.120 2.190
2018-02-14 1.120 2.237
2017-11-14 1.080 2.260
2017-08-15 1.080 2.374
2017-05-11 1.080 2.189
2017-02-14 1.080 2.490
2016-11-16 1.080 2.805
2016-08-11 1.080 3.176
2016-07-20 1.080 3.240
2016-02-12 1.080 3.371
2015-11-11 1.080 3.229
2015-08-13 1.080 3.480
2015-05-21 1.080 3.350
2015-02-23 1.040 3.224
2014-11-21 1.040 3.081
2014-08-14 1.040 3.210
2014-05-16 1.040 3.581
2014-02-14 1.040 3.816
2014-02-04 1.040 3.820
2013-11-05 1.040 4.042
2013-08-07 1.040 3.831
2013-07-31 1.040 3.586
2013-05-14 1.040 3.697
2013-04-24 1.040 3.750
2013-03-15 1.040 3.515
2013-01-28 1.040 3.385
2012-11-09 1.040 3.840
2012-10-26 1.040 4.528
2012-08-14 1.040 4.564
2012-07-26 1.040 4.516
2012-02-16 1.040 4.816
2012-02-07 1.040 5.606
2011-11-10 1.040 5.976
2011-11-02 1.040 6.133
2011-05-16 1.040 6.024
2011-02-15 1.040 5.879
2010-11-15 1.040 5.997
2010-08-11 1.040 6.017
2010-07-29 1.040 5.723
2010-02-10 1.040 5.057
2009-11-13 1.040 5.486
2009-08-28 1.040 6.450

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Middlefield Banc's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.5x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Middlefield Banc's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Middlefield Banc afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Middlefield Banc has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

MBCN Management

 What is the CEO of Middlefield Banc's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Thomas Caldwell
COMPENSATION $624,169
AGE 61
TENURE AS CEO 18.7 years
CEO Bio

Mr. Thomas G. Caldwell has been the Chief Executive Officer and President of Middlefield Banc Corp. since October 2000. Mr. Caldwell serves as the President and Chief Executive Officer of The Middlefield Banking Company. He served as the President and Chief Executive Officer of Emarald Bank. He served as Vice President of Middlefield until October 2000. Mr. Caldwell has been a Director of Middlefield Banc Corp., since 1997. He serves as a Director of Middlefield Banking Company. He served as a Director of Emarald Bank since 2007.

CEO Compensation
  • Thomas's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Thomas's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Middlefield Banc management team in years:

18.7
Average Tenure
61
Average Age
  • The average tenure for the Middlefield Banc management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Thomas Caldwell

TITLE
President
COMPENSATION
$624K
AGE
61
TENURE
18.7 yrs

Donald Stacy

TITLE
Executive VP
COMPENSATION
$290K
AGE
65
TENURE
18.7 yrs

Jim Heslop

TITLE
Executive VP
COMPENSATION
$431K
AGE
65
TENURE
18.7 yrs

Shalini Singhal

TITLE
AGE
42

Teresa Hetrick

TITLE
Executive VP of Operations & Administration and Assistant Secretary
AGE
55

Andrew Berger

TITLE
Managing Director

Michael Allen

TITLE
AGE
55

Kathleen Johnson

TITLE
Secretary
AGE
64

Thomas Hart

TITLE
Financial Consultant
Board of Directors Tenure

Average tenure and age of the Middlefield Banc board of directors in years:

7.1
Average Tenure
65
Average Age
  • The tenure for the Middlefield Banc board of directors is about average.
Board of Directors

Bill Skidmore

TITLE
Chairman of the Board
COMPENSATION
$45K
AGE
62
TENURE
0.1 yrs

Thomas Caldwell

TITLE
President
COMPENSATION
$624K
AGE
61
TENURE
22.4 yrs

James McCaskey

TITLE
Vice Chairman
COMPENSATION
$39K
AGE
54
TENURE
0.1 yrs

Jim Heslop

TITLE
Executive VP
COMPENSATION
$431K
AGE
65
TENURE
17.6 yrs

Carolyn Turk

TITLE
Director
COMPENSATION
$58K
AGE
62
TENURE
6.1 yrs

Bob Toth

TITLE
Director
COMPENSATION
$41K
AGE
73
TENURE
10.1 yrs

Eric Hummel

TITLE
Director
COMPENSATION
$38K
AGE
73
TENURE
8.1 yrs

Ken Jones

TITLE
Director
COMPENSATION
$43K
AGE
69
TENURE
11.4 yrs

Darryl Mast

TITLE
Director
COMPENSATION
$46K
AGE
67
TENURE
6.1 yrs

Clayton Rose

TITLE
Director
COMPENSATION
$42K
AGE
65
TENURE
5.4 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Middlefield Banc insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
21. May 19 Buy Thomas Caldwell Individual 21. May 19 21. May 19 1,000 $39.50 $39,500
17. May 19 Buy Darryl Mast Individual 15. May 19 15. May 19 1,000 $39.65 $39,646
14. May 19 Buy James Heslop Individual 13. May 19 13. May 19 200 $40.84 $8,168
22. Mar 19 Buy Darryl Mast Individual 21. Feb 19 05. Mar 19 1,000 $43.00 $42,793
19. Mar 19 Buy Clayton Rose Individual 15. Mar 19 15. Mar 19 191 $42.95 $8,203
25. Oct 18 Buy Darryl Mast Individual 23. Oct 18 23. Oct 18 1,500 $46.58 $69,876
03. Aug 18 Sell William Skidmore Individual 02. Aug 18 02. Aug 18 -700 $50.45 $-35,315
25. Jul 18 Sell Kenneth Jones Individual 24. Jul 18 24. Jul 18 -1,275 $48.45 $-61,774
X
Management checks
We assess Middlefield Banc's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Middlefield Banc has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

MBCN News

Simply Wall St News

Do You Like Middlefield Banc Corp. (NASDAQ:MBCN) At This P/E Ratio?

Check out our latest analysis for Middlefield Banc How Do I Calculate A Price To Earnings Ratio? … The formula for price to earnings is: Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS) Or for Middlefield Banc: P/E of 10.09 = $40 ÷ $3.97 (Based on the trailing twelve months to March 2019.) Is A High P/E Ratio Good? … How Does Middlefield Banc's Debt Impact Its P/E Ratio?

Simply Wall St -

3 Days Left Until Middlefield Banc Corp. (NASDAQ:MBCN) Trades Ex-Dividend

See our latest analysis for Middlefield Banc 5 checks you should do on a dividend stock When researching a dividend stock, I always follow the following screening criteria: Does it pay an annual yield higher than 75% of dividend payers? … NasdaqCM:MBCN Historical Dividend Yield, May 26th 2019 How well does Middlefield Banc fit our criteria? … The current trailing twelve-month payout ratio for the stock is 28%, meaning the dividend is sufficiently covered by earnings.

Simply Wall St -

How Many Middlefield Banc Corp. (NASDAQ:MBCN) Shares Have Insiders Sold, In The Last Year?

So we'll take a look at whether insiders have been buying or selling shares in Middlefield Banc Corp. … View our latest analysis for Middlefield Banc Middlefield Banc Insider Transactions Over The Last Year In the last twelve months, the biggest single sale by an insider was when the Director, Kenneth Jones, sold US$104k worth of shares at a price of US$51.89 per share. … From our data, it seems that Middlefield Banc insiders own 6.7% of the company, worth about US$8.9m.

Simply Wall St -

How Do Analysts See Middlefield Banc Corp. (NASDAQ:MBCN) Performing In The Next Couple Of Years?

In December 2018, Middlefield Banc Corp. … (NASDAQ:MBCN) released its latest earnings announcement, whicha

Simply Wall St -

Why Middlefield Banc Corp. (NASDAQ:MBCN) Is A Dividend Rockstar

Over the past 10 years Middlefield Banc Corp. … Does Middlefield Banc tick all the boxes of a great dividend stock? … Check out our latest analysis for Middlefield Banc

Simply Wall St -

Do Directors Own Middlefield Banc Corp. (NASDAQ:MBCN) Shares?

Institutions often own shares in more established companies, while it's not unusual to see insiders own a fair bit of smaller companies. … Middlefield Banc is not a large company by global standards. … View our latest analysis for Middlefield Banc

Simply Wall St -

What Makes Middlefield Banc Corp. (NASDAQ:MBCN) A Hard Investment?

As a small-cap finance stock with a market capitalisation of US$146m, the risk and profitability of Middlefield Banc Corp. … After the Financial Crisis in 2008, a set of reforms called Basel III was created with the purpose of strengthening regulation, risk management and supervision in the banking sector. … Basel III target banking regulations to improve the sector’s ability to absorb shocks resulting from economic stress which may expose financial institutions like Middlefield Banc to vulnerabilities.

Simply Wall St -

Only 4 Days Left To Cash In On Middlefield Banc Corp. (NASDAQ:MBCN) Dividend

Have you been keeping an eye on Middlefield Banc Corp.'s (NASDAQ:MBCN) upcoming dividend of US$0.28 per share payable on the 15 March 2019? … Below, I will explain how holding Middlefield Banc can impact your portfolio income stream, by analysing the stock's most recent financial data and dividend attributes. … When assessing a stock as a potential addition to my dividend Portfolio, I look at these five areas:?

Simply Wall St -

Does Middlefield Banc Corp.'s (NASDAQ:MBCN) CEO Salary Compare Well With Others?

In 2000 Thomas Caldwell was appointed CEO of Middlefield Banc Corp. … This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … How Does Thomas Caldwell's Compensation Compare With Similar Sized Companies?

Simply Wall St -

Did Middlefield Banc Corp. (NASDAQ:MBCN) Insiders Sell Shares?

So we'll take a look at whether insiders have been buying or selling shares in Middlefield Banc Corp. … Middlefield Banc Insider Transactions Over The Last Year. … So what is clear is that an insider saw fit to sell at around the current price of US$44.45

Simply Wall St -

MBCN Company Info

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 accepts checking, savings, negotiable order of withdrawal, and money market accounts, as well as time certificates of deposit and IRA accounts. The company 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. It also provides safe deposit facilities, travelers’ and official checks, money orders, and ATM services; 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 January 17, 2019, it had 15 full-service banking centers and an LPL Financial brokerage office serving Beachwood, Chardon, Cortland, Dublin, Garrettsville, Mantua, Middlefield, Newbury, Orwell, Powell, Solon, Sunbury, Twinsburg, and Westerville, as well as a loan production office in Mentor, Ohio. The company was founded in 1901 and is headquartered in Middlefield, Ohio.

Details
Name: Middlefield Banc Corp.
MBCN
Exchange: NasdaqCM
Founded: 1901
$129,226,689
3,256,721
Website: http://www.middlefieldbank.bank
Address: Middlefield Banc Corp.
15985 East High Street,
PO Box 35,
Middlefield,
Ohio, 44062,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqCM MBCN Common Stock Nasdaq Capital Market US USD 25. Jun 2003
Number of employees
Current staff
Staff numbers
200
Middlefield Banc employees.
Industry
Regional Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/19 23:47
End of day share price update: 2019/06/19 00:00
Last estimates confirmation: 2019/04/23
Last earnings filing: 2019/05/07
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.