Middlefield Banc (NASDAQ:MBCN) Stock Passes Above 200 Day Moving Average - Here's Why

Middlefield Banc Corp. (NASDAQ:MBCN - Get Free Report)'s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $27.26 and traded as high as $31.21. Middlefield Banc shares last traded at $30.94, with a volume of 4,466 shares.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Middlefield Banc from a "sell" rating to a "hold" rating in a research report on Thursday, April 17th.

Middlefield Banc Trading Up 1.1%

The company has a fifty day simple moving average of $29.54 and a 200-day simple moving average of $27.26. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.05. The stock has a market cap of $252.66 million, a price-to-earnings ratio of 15.56 and a beta of 0.41.

Middlefield Banc (NASDAQ:MBCN - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The bank reported $0.60 earnings per share (EPS) 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 return on equity of 7.69% and a net margin of 14.78%. On average, research analysts forecast that Middlefield Banc Corp. will post 1.96 earnings per share for the current fiscal year.

Middlefield Banc Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.84 annualized dividend and a yield of 2.69%. Middlefield Banc's payout ratio is presently 41.79%.

Institutional Trading of Middlefield Banc

Institutional investors and hedge funds have recently bought and sold shares of the stock. Empowered Funds LLC increased its holdings in shares of Middlefield Banc by 3.5% in the 1st quarter. Empowered Funds LLC now owns 17,863 shares of the bank's stock valued at $499,000 after purchasing an additional 598 shares during the period. Elizabeth Park Capital Advisors Ltd. increased its holdings in shares of Middlefield Banc by 42.5% in the 1st quarter. Elizabeth Park Capital Advisors Ltd. now owns 27,731 shares of the bank's stock valued at $775,000 after purchasing an additional 8,269 shares during the period. Nuveen LLC acquired a new position in shares of Middlefield Banc in the 1st quarter valued at about $396,000. Deutsche Bank AG acquired a new position in shares of Middlefield Banc in the 1st quarter valued at about $155,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Middlefield Banc by 5.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 21,437 shares of the bank's stock valued at $599,000 after purchasing an additional 1,164 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.