Middlefield Banc (MBCN) AI Stock Analysis

• Market Cap: $221.27M
• Dividend Yield: 2.96%
• Average Volume (3M): 7.28K
• Price to Earnings (P/E): 14.3
• Beta (1Y): 1.29
• Revenue Growth: 12.22%
• EPS Growth: -10.32%
• Country: US
• Employees: 246
• Sector: Financial
• Sector Strength: 81
• Industry: Banks - Regional
• EPS (TTM): 1.92
• Shares Outstanding: 8,081,302
• 10 Day Avg. Volume: 8,705
• 30 Day Avg. Volume: 7,284
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): 3.30
• Price to Cash Flow (P/CF): 20.40
• P/FCF Ratio: 2.00
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: $32.00
• Price Target Upside: 16.87% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

Middlefield Banc's strong financial performance, buoyed by revenue growth and profitability, is complemented by positive recent corporate developments. While technical indicators show stable momentum, the valuation remains moderate. The company's strategic positioning in the Ohio market and leadership changes are key strengths.

Middlefield Banc Business Overview & Revenue Model

Company Description

Middlefield Banc Corp (MBCN) is a financial services company headquartered in Ohio, USA. The company operates through its subsidiary, The Middlefield Banking Company, providing a full range of personal and commercial banking services. Its core offerings include checking and savings accounts, mortgage and business loans, credit cards, and other financial products aimed at meeting the needs of individuals, families, and small to medium-sized businesses. With a focus on customer service and community involvement, Middlefield Banc Corp seeks to maintain strong relationships with its clients across the regions it serves.

How the Company Makes Money

Middlefield Banc Corp generates income primarily through interest earned on loans and leases, as well as fees and commissions from its banking services. The interest income is derived from lending activities, including personal, commercial, and mortgage loans, which are offered at competitive rates. The bank also earns non-interest income from service charges on deposit accounts, transaction fees, and wealth management services. Additionally, Middlefield Banc may engage in activities such as securities trading and investment to diversify its revenue streams. Strategic partnerships with financial service providers can also contribute to its earnings by expanding its service offerings and customer reach.

Middlefield Banc Financial Statement Overview

Summary

Middlefield Banc presents a strong financial position with consistent revenue growth and profitability. The company's balance sheet is robust with no debt, but increasing liabilities should be monitored. Cash flow statements reveal strong operational cash generation, though investing activities indicate potential volatility. Overall, the company is in a stable financial condition with room for improvement in managing liabilities and investment strategies.

Income Statement

Middlefield Banc has demonstrated consistent revenue growth over recent years, with total revenue increasing from $49.38M in 2020 to $68.89M in 2023. The Gross Profit Margin has remained strong at 100% due to the nature of banking operations. However, the Net Profit Margin was 25.21% in 2023, reflecting healthy profitability. EBIT Margin was 46.50% in 2023, showing efficient management of operating expenses. The absence of EBITDA data in recent years limits the full analysis of operating efficiency.

Balance Sheet

Middlefield Banc's Balance Sheet highlights a favorable equity position with a Debt-to-Equity ratio of 0 in 2024, indicating no reliance on debt. Stockholders' Equity has increased to $210.56M in 2024, reflecting a positive trend. The Equity Ratio was 11.36% in 2023, showcasing a solid capital cushion. However, there has been a significant increase in total liabilities over the years, which warrants monitoring.

Cash Flow

The company has shown stable Free Cash Flow with a notable growth rate of 21.93% from 2022 to 2023. The Operating Cash Flow to Net Income ratio was 1.29 in 2023, indicating strong cash generation relative to net income. However, fluctuations in investing cash flow, particularly large outflows in 2023, could signal potential risks in long-term investments.

Breakdown
TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
96.06M	0.00	68.89M	55.02M	55.48M	49.38M
	Gross Profit
96.06M	0.00	68.89M	55.02M	55.48M	49.38M
	EBIT
20.11M	0.00	32.04M	24.95M	22.70M	9.75M
	EBITDA
9.95M	0.00	0.00	0.00	25.11M	12.06M
	Net Income Common Stockholders
14.21M	0.00	17.37M	15.67M	18.63M	8.35M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
206.25M	211.84M	60.84M	216.37M	267.37M	207.23M
	Total Assets
1.25B	1.85B	1.82B	1.69B	1.33B	1.39B
	Total Debt
99.20M	0.00	175.43M	77.06M	12.90M	17.04M
	Net Debt
-8.73M	-46.04M	119.03M	25.66M	-84.27M	-75.84M
	Total Liabilities
1.12B	1.64B	1.62B	1.49B	1.19B	1.25B
	Stockholders Equity
128.29M	210.56M	205.68M	197.69M	145.34M	143.81M
Cash Flow		Free Cash Flow
17.87M	17.47M	21.26M	17.48M	14.82M	14.01M
	Operating Cash Flow
18.27M	17.47M	22.36M	18.36M	15.42M	15.08M
	Investing Cash Flow
-48.70M	-43.29M	-126.54M	-8.65M	70.89M	-135.32M
	Financing Cash Flow
35.67M	20.78M	111.21M	-75.39M	-79.23M	197.55M

Middlefield Banc Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 27.38
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Positive
• MACD: Negative
• 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 27.38 is above the 20-day moving average (MA) of 26.39, above the 50-day MA of 25.91, and above the 200-day MA of 26.50, indicating a bullish trend. The MACD of 0.45 indicates Negative momentum. The RSI at 55.81 is Neutral, neither overbought nor oversold. The STOCH value of 57.19 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
FRME	76 Outperform	$2.36B	11.85	8.85%	3.44%	5.54%	-8.57%
PEBO	75 Outperform	$1.06B	9.01	10.77%	5.37%	17.88%	-3.25%
CIVB	71 Outperform	$301.39M	9.66	8.10%	3.34%	11.16%	-26.17%
MBCN	68 Neutral	$221.27M	14.27	7.46%	2.96%	12.22%	-10.32%
HBNC	66 Neutral	$667.26M	18.86	4.78%	4.22%	10.94%	26.35%
LKFN	64 Neutral	$1.57B	16.61	14.02%	3.22%	9.38%	-0.59%
Sector *	64 Neutral	$14.24B	10.27	8.97%	4.33%	16.38%	-11.94%

Middlefield Banc Corporate Events

Middlefield Banc Announces Leadership Changes and Growth Plans

Middlefield Banc Corp. recently announced strategic leadership changes as part of its comprehensive succession plan, including the appointment of Ron Zimmerly as CEO in 2024 and Mike Ranttila as CFO in 2023. The company has effectively integrated the acquisition of Liberty Bancshares and is positioned for growth in Ohio’s attractive banking markets, benefiting from economic development projects in the Columbus region. These developments reflect Middlefield’s commitment to community banking and its strong financial standing, with a focus on improving profitability and maintaining a competitive edge in key Ohio markets.