Middlefield Banc (NASDAQ:MBCN) Shares Cross Below 50 Day Moving Average - Time to Sell?

Key Points

• Middlefield Banc Corp. shares fell below their 50-day moving average of $29.86, indicating potential weakness, with the stock last trading at $30.08.
• Equities research analysts have generally rated Middlefield Banc as a "Hold," with an average price target of $29.00, following a downgrade from Zacks Research.
• The bank recently declared a quarterly dividend of $0.21 per share, with an annualized yield of 2.8% and a payout ratio of 37.33%.

Middlefield Banc Corp. (NASDAQ:MBCN - Get Free Report) shares passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $29.86 and traded as low as $29.74. Middlefield Banc shares last traded at $30.08, with a volume of 8,057 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on MBCN shares. Weiss Ratings reiterated a "hold (c)" rating on shares of Middlefield Banc in a research report on Saturday, September 27th. Zacks Research lowered Middlefield Banc from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 23rd. Finally, Keefe, Bruyette & Woods restated a "market perform" rating and issued a $33.00 price objective (up previously from $32.00) on shares of Middlefield Banc in a research report on Thursday, July 24th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $29.00.

Middlefield Banc Trading Up 2.3%

The stock has a market capitalization of $243.08 million, a price-to-earnings ratio of 13.37 and a beta of 0.46. The company has a 50 day moving average of $29.86 and a 200 day moving average of $28.85. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.98 and a current ratio of 0.98.

Middlefield Banc (NASDAQ:MBCN - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The bank reported $0.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.57 by $0.19. Middlefield Banc had a return on equity of 8.54% and a net margin of 16.16%.The business had revenue of $20.52 million during the quarter, compared to the consensus estimate of $18.30 million. 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 declared a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 29th were issued a dividend of $0.21 per share. The ex-dividend date was Friday, August 29th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.8%. Middlefield Banc's dividend payout ratio is currently 37.33%.

Hedge Funds Weigh In On Middlefield Banc

Hedge funds have recently modified their holdings of the business. Police & Firemen s Retirement System of New Jersey grew its position in Middlefield Banc by 107.2% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 2,047 shares of the bank's stock valued at $62,000 after acquiring an additional 1,059 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Middlefield Banc by 650.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,769 shares of the bank's stock valued at $83,000 after acquiring an additional 2,400 shares in the last quarter. Deutsche Bank AG acquired a new position in Middlefield Banc in the 1st quarter valued at about $155,000. GAMMA Investing LLC grew its position in Middlefield Banc by 3,024.5% in the 1st 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, Jane Street Group LLC acquired a new position in Middlefield Banc in the 2nd quarter valued at about $243,000. 31.72% of the stock is currently owned by hedge funds and other 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.

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