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

Shares of Middlefield Banc Corp. (NASDAQ:MBCN - Get Free Report) 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 traded.

Wall Street Analysts Forecast Growth

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

Middlefield Banc Stock Down 0.8%

The company has a debt-to-equity ratio of 0.05, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market capitalization of $250.00 million, a price-to-earnings ratio of 15.39 and a beta of 0.41. The business has a fifty day moving average price of $29.54 and a two-hundred day moving average price of $27.26.

Middlefield Banc (NASDAQ:MBCN - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The bank reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.48 by $0.12. The company had revenue of $18.04 million during the quarter, compared to analyst estimates of $17.23 million. Middlefield Banc had a net margin of 14.78% and a return on equity of 7.69%. On average, equities analysts expect that Middlefield Banc Corp. will post 1.96 earnings per share for the current year.

Middlefield Banc Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.71%. The ex-dividend date was Friday, May 30th. Middlefield Banc's payout ratio is 41.79%.

Hedge Funds Weigh In On Middlefield Banc

A number of institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its holdings in Middlefield Banc by 112.1% during the fourth quarter. JPMorgan Chase & Co. now owns 25,831 shares of the bank's stock worth $725,000 after acquiring an additional 13,651 shares during the period. Huntington National Bank boosted its position in Middlefield Banc by 10.1% in the 4th quarter. Huntington National Bank now owns 38,290 shares of the bank's stock worth $1,074,000 after purchasing an additional 3,508 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of Middlefield Banc by 11.2% during the 4th quarter. Wells Fargo & Company MN now owns 15,220 shares of the bank's stock worth $427,000 after purchasing an additional 1,536 shares during the period. Elizabeth Park Capital Advisors Ltd. increased its holdings in shares of Middlefield Banc by 1,250.6% during the 4th quarter. Elizabeth Park Capital Advisors Ltd. now owns 19,462 shares of the bank's stock valued at $546,000 after purchasing an additional 18,021 shares in the last quarter. Finally, Barclays PLC lifted its stake in shares of Middlefield Banc by 8.2% in the 4th quarter. Barclays PLC now owns 18,308 shares of the bank's stock valued at $514,000 after purchasing an additional 1,392 shares during the period. Hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.