Middlefield Banc (NASDAQ:MBCN) Shares Cross Above Fifty Day Moving Average - Here's What Happened

Middlefield Banc Corp. (NASDAQ:MBCN - Get Free Report) shares crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $26.85 and traded as high as $29.08. Middlefield Banc shares last traded at $29.08, with a volume of 6,307 shares.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Middlefield Banc from a "sell" rating to a "hold" rating in a research note on Thursday, April 17th.

Middlefield Banc Stock Up 1.1%

The company has a market capitalization of $235.44 million, a P/E ratio of 15.09 and a beta of 0.40. 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 50-day moving average price of $27.01 and a 200-day moving average price of $27.45.

Middlefield Banc (NASDAQ:MBCN - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The bank reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.12. The firm had revenue of $18.04 million for the quarter, compared to the consensus estimate of $17.23 million. Middlefield Banc had a net margin of 14.31% and a return on equity of 7.47%. On average, research analysts predict that Middlefield Banc Corp. will post 1.96 EPS for the current fiscal year.

Middlefield Banc Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.88%. The ex-dividend date of this dividend is Friday, May 30th. Middlefield Banc's payout ratio is 41.79%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Elizabeth Park Capital Advisors Ltd. increased its position in Middlefield Banc by 1,250.6% during the 4th quarter. Elizabeth Park Capital Advisors Ltd. now owns 19,462 shares of the bank's stock valued at $546,000 after purchasing an additional 18,021 shares during the period. Nuveen LLC purchased a new stake in Middlefield Banc during the 1st quarter valued at $396,000. JPMorgan Chase & Co. lifted its stake in shares of Middlefield Banc by 112.1% during the 4th quarter. JPMorgan Chase & Co. now owns 25,831 shares of the bank's stock worth $725,000 after acquiring an additional 13,651 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Middlefield Banc by 3,024.5% in the first quarter. GAMMA Investing LLC now owns 6,624 shares of the bank's stock valued at $185,000 after acquiring an additional 6,412 shares in the last quarter. Finally, Deutsche Bank AG purchased a new position in Middlefield Banc in the 1st quarter worth $155,000. 31.72% of the stock is owned by institutional investors.

Middlefield Banc Company Profile

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.