Middlefield Banc (NASDAQ:MBCN) Stock Crosses Above 200 Day Moving Average - Should You Sell?

Shares of Middlefield Banc Corp. (NASDAQ:MBCN - Get Free Report) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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 trading hands.

Analysts Set New Price Targets

MBCN has been the subject of a number of recent research reports. 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 upped their target price on shares of Middlefield Banc from $30.00 to $32.00 and gave the stock a "market perform" rating in a research note on Friday.

Middlefield Banc Stock Down 3.0%

The stock's fifty day moving average is $29.65 and its two-hundred day moving average is $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 company has a market capitalization of $244.99 million, a PE ratio of 15.08 and a beta of 0.41.

Middlefield Banc (NASDAQ:MBCN - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The bank reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.48 by $0.12. The company 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 14.78% and a return on equity of 7.69%. As a group, analysts predict that Middlefield Banc Corp. will post 1.96 EPS for the current year.

Middlefield Banc Announces Dividend

The firm 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. This represents a $0.84 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend was Friday, May 30th. Middlefield Banc's dividend payout ratio (DPR) is presently 41.79%.

Institutional Investors Weigh In On Middlefield Banc

Institutional investors have recently added to or reduced their stakes in the business. Empowered Funds LLC increased its position in shares of Middlefield Banc by 3.5% during the first quarter. Empowered Funds LLC now owns 17,863 shares of the bank's stock valued at $499,000 after buying an additional 598 shares during the period. Tower Research Capital LLC TRC increased its position in shares of Middlefield Banc by 122.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,319 shares of the bank's stock worth $37,000 after purchasing an additional 726 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Middlefield Banc by 5.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 21,437 shares of the bank's stock worth $599,000 after purchasing an additional 1,164 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of 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 last quarter. Finally, Barclays PLC increased its position in shares of Middlefield Banc by 8.2% in the fourth quarter. Barclays PLC now owns 18,308 shares of the bank's stock worth $514,000 after purchasing an additional 1,392 shares during the last quarter. 31.72% of the stock is owned by hedge funds and other institutional investors.

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.