Middlefield Banc (NASDAQ:MBCN) Shares Cross 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) passed below its 50-day moving average during trading on Thursday . The stock has a 50-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 trading hands.

Analyst Ratings Changes

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

Middlefield Banc Trading Down 1.8%

The firm has a market cap of $225.03 million, a P/E ratio of 12.38 and a beta of 0.41. The business has a 50 day moving average of $29.84 and a two-hundred day moving average of $27.54. The company has a current ratio of 0.98, a quick 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 data on Tuesday, July 22nd. The bank reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.19. Middlefield Banc had a return on equity of 8.59% and a net margin of 16.16%. The company had revenue of $20.52 million during the quarter, compared to the consensus estimate of $18.30 million. Analysts predict that Middlefield Banc Corp. will post 1.96 earnings per share for the current year.

Middlefield Banc Announces Dividend

The business also recently disclosed 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. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Friday, May 30th. Middlefield Banc's dividend payout ratio is 37.33%.

Hedge Funds Weigh In On Middlefield Banc

A number of institutional investors and hedge funds have recently made changes to their positions in MBCN. Citadel Advisors LLC grew its holdings in shares of Middlefield Banc by 10.9% during the fourth quarter. Citadel Advisors LLC now owns 18,608 shares of the bank's stock valued at $522,000 after buying an additional 1,827 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Middlefield Banc by 3,024.5% during the first quarter. GAMMA Investing LLC now owns 6,624 shares of the bank's stock valued at $185,000 after buying an additional 6,412 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Middlefield Banc by 29.4% during the fourth quarter. Bank of America Corp DE now owns 10,174 shares of the bank's stock valued at $285,000 after buying an additional 2,310 shares during the last quarter. Elizabeth Park Capital Advisors Ltd. grew its holdings in shares of Middlefield Banc by 1,250.6% during the fourth quarter. Elizabeth Park Capital Advisors Ltd. now owns 19,462 shares of the bank's stock valued at $546,000 after buying an additional 18,021 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Middlefield Banc by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 80,885 shares of the bank's stock worth $2,269,000 after acquiring an additional 1,224 shares in the last quarter. Institutional investors own 31.72% of the company's stock.

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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