Middlefield Banc
Market Cap
US$152.6m
Last Updated
2021/02/24 23:57 UTC
Data Sources
Company Financials +
Executive Summary
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. More Details
Rewards
Risk Analysis
No risks detected for MBCN from our risk checks.
Snowflake Analysis
Flawless balance sheet established dividend payer.
Similar Companies
Share Price & News
How has Middlefield Banc's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: MBCN is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 7% a week.
Volatility Over Time: MBCN's weekly volatility (7%) has been stable over the past year.
Market Performance
7 Day Return
4.5%
MBCN
6.3%
US Banks
-1.4%
US Market
1 Year Return
-2.6%
MBCN
16.5%
US Banks
37.1%
US Market
Return vs Industry: MBCN underperformed the US Banks industry which returned 12.4% over the past year.
Return vs Market: MBCN underperformed the US Market which returned 34.1% over the past year.
Shareholder returns
| MBCN | Industry | Market | |
|---|---|---|---|
| 7 Day | 4.5% | 6.3% | -1.4% |
| 30 Day | 22.5% | 16.0% | 1.6% |
| 90 Day | 11.4% | 27.2% | 7.3% |
| 1 Year | 0.3%-2.6% | 20.8%16.5% | 40.2%37.1% |
| 3 Year | 7.1%-0.3% | 16.4%6.5% | 62.5%52.1% |
| 5 Year | 71.2%50.8% | 104.0%78.2% | 133.9%108.0% |
Long-Term Price Volatility Vs. Market
How volatile is Middlefield Banc's share price compared to the market and industry in the last 5 years?
Simply Wall St News
4 weeks ago | Simply Wall St
How Much Did Middlefield Banc's(NASDAQ:MBCN) Shareholders Earn From Share Price Movements Over The Last Year?2 months ago | Simply Wall St
What Does Middlefield Banc's (NASDAQ:MBCN) CEO Pay Reveal?2 months ago | Simply Wall St
Interested In Middlefield Banc's (NASDAQ:MBCN) Upcoming US$0.15 Dividend? You Have Four Days LeftValuation
Is Middlefield Banc undervalued compared to its fair value and its price relative to the market?
17.4%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: MBCN ($23.92) is trading below our estimate of fair value ($28.96)
Significantly Below Fair Value: MBCN is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: MBCN is poor value based on its PE Ratio (18.3x) compared to the US Banks industry average (12.4x).
PE vs Market: MBCN is good value based on its PE Ratio (18.3x) compared to the US market (21.5x).
Price to Earnings Growth Ratio
PEG Ratio: MBCN is poor value based on its PEG Ratio (1x)
Price to Book Ratio
PB vs Industry: MBCN's PB Ratio (1.1x) is in line with the US Banks industry average.
Next Steps
Future Growth
How is Middlefield Banc forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?
17.5%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: MBCN's forecast earnings growth (17.5% per year) is above the savings rate (2%).
Earnings vs Market: MBCN's earnings (17.5% per year) are forecast to grow slower than the US market (20.4% per year).
High Growth Earnings: MBCN's earnings are forecast to grow, but not significantly.
Revenue vs Market: MBCN's revenue (9.8% per year) is forecast to grow slower than the US market (10.5% per year).
High Growth Revenue: MBCN's revenue (9.8% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: MBCN's Return on Equity is forecast to be low in 3 years time (8%).
Next Steps
Past Performance
How has Middlefield Banc performed over the past 5 years?
10.9%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: MBCN has high quality earnings.
Growing Profit Margin: MBCN's current net profit margins (21.1%) are lower than last year (28%).
Past Earnings Growth Analysis
Earnings Trend: MBCN's earnings have grown by 10.9% per year over the past 5 years.
Accelerating Growth: MBCN's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: MBCN had negative earnings growth (-34.2%) over the past year, making it difficult to compare to the Banks industry average (0.5%).
Return on Equity
High ROE: MBCN's Return on Equity (5.8%) is considered low.
Next Steps
Financial Health
How is Middlefield Banc's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Financial Institutions Analysis
Asset Level: MBCN's Assets to Equity ratio (9.7x) is low.
Allowance for Bad Loans: MBCN has a sufficient allowance for bad loans (171%).
Low Risk Liabilities: 98% of MBCN's liabilities are made up of primarily low risk sources of funding.
Loan Level: MBCN has an appropriate level of Loans to Assets ratio (78%).
Low Risk Deposits: MBCN's Loans to Deposits ratio (89%) is appropriate.
Level of Bad Loans: MBCN has an appropriate level of bad loans (0.7%).
Next Steps
Dividend
What is Middlefield Banc current dividend yield, its reliability and sustainability?
2.68%
Current Dividend Yield
Upcoming Dividend Payment
Dividend Yield vs Market
Notable Dividend: MBCN's dividend (2.68%) is higher than the bottom 25% of dividend payers in the US market (1.34%).
High Dividend: MBCN's dividend (2.68%) is low compared to the top 25% of dividend payers in the US market (3.75%).
Stability and Growth of Payments
Stable Dividend: MBCN's dividends per share have been stable in the past 10 years.
Growing Dividend: MBCN's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (45.9%), MBCN's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: MBCN's dividends in 3 years are forecast to be well covered by earnings (29.2% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
20.3yrs
Average management tenure
CEO
Thomas Caldwell (63 yo)
20.33yrs
Tenure
US$529,888
Compensation
Mr. Thomas G. Caldwell has been the Chief Executive Officer and President of Middlefield Banc Corp. since October 2000. Mr. Caldwell serves as the President and Chief Executive Officer of The Middlefield B...
CEO Compensation Analysis
Compensation vs Market: Thomas's total compensation ($USD529.89K) is below average for companies of similar size in the US market ($USD950.27K).
Compensation vs Earnings: Thomas's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 20.33yrs | US$529.89k | 0.80% $ 1.2m | |
| Senior VP | 20.33yrs | US$255.93k | 0.12% $ 178.4k | |
| Executive VP | 19.25yrs | US$343.42k | 0.43% $ 663.6k | |
| Managing Director | no data | no data | no data | |
| Executive Vice President of Deposit Services | no data | no data | 0.027% $ 41.9k | |
| President of Central Ohio Region - Middlefield Banking Company | 5.08yrs | no data | 0.051% $ 78.2k | |
| Corporate Secretary | 2.08yrs | no data | no data | |
| Financial Consultant | no data | no data | no data |
20.3yrs
Average Tenure
63yo
Average Age
Experienced Management: MBCN's management team is seasoned and experienced (20.3 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 20.33yrs | US$529.89k | 0.80% $ 1.2m | |
| Executive VP | 19.25yrs | US$343.42k | 0.43% $ 663.6k | |
| Independent Director | 7.75yrs | US$47.84k | 0.54% $ 825.5k | |
| Independent Vice Chairman | 1.75yrs | US$49.09k | 0.14% $ 215.6k | |
| Independent Director | 17.08yrs | US$55.59k | 0.47% $ 712.5k | |
| Independent Director | 13.08yrs | US$41.94k | 0.14% $ 217.8k | |
| Director | 0.75yr | no data | 0.14% $ 206.2k | |
| Independent Chairman of the Board | 1.75yrs | US$54.84k | 0.29% $ 441.1k | |
| Independent Director | 11.75yrs | US$43.84k | 0.98% $ 1.5m | |
| Independent Director | 7.08yrs | US$46.59k | 0.25% $ 387.7k | |
| Independent Director | 4.08yrs | US$21.00k | 0.79% $ 1.2m |
7.8yrs
Average Tenure
64yo
Average Age
Experienced Board: MBCN's board of directors are considered experienced (7.8 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: MBCN insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Middlefield Banc Corp.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: Middlefield Banc Corp.
- Ticker: MBCN
- Exchange: NasdaqCM
- Founded: 1901
- Industry: Regional Banks
- Sector: Banks
- Market Cap: US$152.593m
- Shares outstanding: 6.38m
- Website: https://www.middlefieldbank.bank
Number of Employees
Location
- Middlefield Banc Corp.
- 15985 East High Street
- Middlefield
- Ohio
- 44062-0035
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| MBCN | NasdaqCM (Nasdaq Capital Market) | Yes | Common Stock | US | USD | Jun 2003 |
Biography
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 ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/02/24 23:57 |
| End of Day Share Price | 2021/02/24 00:00 |
| Earnings | 2020/12/31 |
| Annual Earnings | 2020/12/31 |
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.