Middlefield Banc (NASDAQ:MBCN) Stock Price Passes Below Fifty Day Moving Average - Time to Sell?

Key Points

• Middlefield Banc Corp. shares have fallen below their 50-day moving average of $29.84, hitting a low of $27.85 during trading.
• The company reported $0.76 earnings per share in its latest quarterly earnings, surpassing the consensus estimate of $0.57.
• Middlefield Banc recently announced a quarterly dividend of $0.21 per share, providing an annualized yield of 3.0% for investors.

Middlefield Banc Corp. (NASDAQ:MBCN - Get Free Report) shares passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $29.84 and traded as low as $27.85. Middlefield Banc shares last traded at $27.85, with a volume of 8,174 shares changing hands.

Analysts Set New Price Targets

A number of analysts have recently issued reports on MBCN shares. Wall Street Zen upgraded shares of Middlefield Banc from a "sell" rating to a "hold" rating in a research note on Thursday, April 17th. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $33.00 price objective (up previously from $32.00) on shares of Middlefield Banc in a research note on Thursday, July 24th.

Middlefield Banc Price Performance

The company has a market cap of $220.26 million, a PE ratio of 12.12 and a beta of 0.47. The business's 50 day moving average price is $29.78 and its 200-day moving average price is $27.60. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.05.

Middlefield Banc (NASDAQ:MBCN - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The bank reported $0.76 earnings per share for the quarter, topping analysts' consensus estimates of $0.57 by $0.19. Middlefield Banc had a net margin of 16.16% and a return on equity of 8.59%. The business had revenue of $20.52 million during the quarter, compared to the consensus estimate of $18.30 million. As a group, analysts forecast that Middlefield Banc Corp. will post 1.96 earnings per share for the current year.

Middlefield Banc Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.1%. Middlefield Banc's dividend payout ratio (DPR) is presently 37.33%.

Institutional Trading of Middlefield Banc

Hedge funds have recently made changes to their positions in the stock. Citadel Advisors LLC boosted its holdings in Middlefield Banc by 10.9% in the fourth quarter. Citadel Advisors LLC now owns 18,608 shares of the bank's stock worth $522,000 after purchasing an additional 1,827 shares during the period. GAMMA Investing LLC boosted its holdings in Middlefield Banc by 3,024.5% in the first quarter. GAMMA Investing LLC now owns 6,624 shares of the bank's stock worth $185,000 after purchasing an additional 6,412 shares during the period. Bank of New York Mellon Corp boosted its holdings in Middlefield Banc by 9.1% in the first quarter. Bank of New York Mellon Corp now owns 26,525 shares of the bank's stock worth $741,000 after purchasing an additional 2,216 shares during the period. Bank of America Corp DE boosted its holdings in Middlefield Banc by 29.4% in the fourth quarter. Bank of America Corp DE now owns 10,174 shares of the bank's stock worth $285,000 after purchasing an additional 2,310 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Middlefield Banc by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 80,885 shares of the bank's stock worth $2,269,000 after purchasing an additional 1,224 shares during the period. Institutional investors and hedge funds own 31.72% of the company's stock.

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.