Middlefield Banc (NASDAQ:MBCN) Share Price Passes Below Fifty Day Moving Average of $22.19

Middlefield Banc Corp. (NASDAQ:MBCN)’s stock price passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $22.19 and traded as low as $21.63. Middlefield Banc shares last traded at $24.05, with a volume of 58,739 shares trading hands.

Wall Street Analyst Weigh In

MBCN has been the topic of a number of recent research reports. Hovde Group reduced their target price on shares of Middlefield Banc from $25.00 to $23.00 and set a “market perform” rating on the stock in a report on Wednesday, May 1st. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $25.00 target price (down from $30.00) on shares of Middlefield Banc in a report on Thursday, May 2nd. Finally, StockNews.com upgraded shares of Middlefield Banc from a “sell” rating to a “hold” rating in a report on Thursday, May 30th.

Middlefield Banc Stock Performance

The firm has a market capitalization of $194.08 million, a PE ratio of 11.73 and a beta of 0.65. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.97 and a current ratio of 0.97. The company’s fifty day moving average price is $22.19 and its two-hundred day moving average price is $25.29.

Middlefield Banc (NASDAQ:MBCN) last announced its quarterly earnings data on Tuesday, April 30th. The bank reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.09. The business had revenue of $26.41 million for the quarter, compared to analyst estimates of $17.10 million. Middlefield Banc had a net margin of 16.41% and a return on equity of 8.25%. As a group, equities analysts expect that Middlefield Banc Corp. will post 1.75 earnings per share for the current year.

Middlefield Banc Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were issued a dividend of $0.20 per share. The ex-dividend date was Friday, May 31st. This represents a $0.80 annualized dividend and a dividend yield of 3.33%. Middlefield Banc’s payout ratio is 39.02%.

Institutional Trading of Middlefield Banc

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of Middlefield Banc by 1.0% during the first quarter. Vanguard Group Inc. now owns 386,196 shares of the bank’s stock worth $9,222,000 after purchasing an additional 3,782 shares in the last quarter. Redmont Wealth Advisors LLC lifted its stake in shares of Middlefield Banc by 14.2% during the first quarter. Redmont Wealth Advisors LLC now owns 32,017 shares of the bank’s stock worth $765,000 after purchasing an additional 3,989 shares in the last quarter. Cerity Partners LLC acquired a new position in shares of Middlefield Banc during the fourth quarter worth about $290,000. Virtu Financial LLC acquired a new position in shares of Middlefield Banc during the fourth quarter worth about $273,000. Finally, BNP Paribas Financial Markets lifted its stake in shares of Middlefield Banc by 48.9% during the first quarter. BNP Paribas Financial Markets now owns 3,668 shares of the bank’s stock worth $88,000 after purchasing an additional 1,204 shares in the last quarter. 31.72% of the stock is currently owned by institutional investors and hedge funds.

About Middlefield Banc

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 offers 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.