Middlefield Banc (NASDAQ:MBCN) Shares Cross Above 50-Day Moving Average of $26.35

Middlefield Banc Corp. (NASDAQ:MBCN) passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $26.35 and traded as high as $28.95. Middlefield Banc shares last traded at $28.90, with a volume of 5,443 shares.

Middlefield Banc Trading Up 2.4 %

The stock’s fifty day moving average price is $26.35 and its 200 day moving average price is $23.98. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $233.14 million, a P/E ratio of 14.10 and a beta of 0.68.

Middlefield Banc (NASDAQ:MBCN) last posted its quarterly earnings results on Thursday, July 18th. The bank reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.10. The firm had revenue of $27.36 million for the quarter, compared to analysts’ expectations of $16.80 million. Middlefield Banc had a net margin of 15.06% and a return on equity of 7.74%. Research analysts forecast that Middlefield Banc Corp. will post 1.95 earnings per share for the current year.

Middlefield Banc Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date was Friday, August 30th. Middlefield Banc’s payout ratio is presently 39.02%.

Institutional Trading of Middlefield Banc

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

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.