Middlefield Banc (NASDAQ:MBCN) Share Price Crosses Above 50-Day Moving Average - Here's What Happened

Middlefield Banc Corp. (NASDAQ:MBCN - Get Free Report) shares crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $27.52 and traded as high as $29.57. Middlefield Banc shares last traded at $29.46, with a volume of 5,261 shares changing hands.

Wall Street Analyst Weigh In

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

Middlefield Banc Stock Up 2.5%

The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market cap of $233.94 million, a P/E ratio of 15.08 and a beta of 0.42. The business's fifty day moving average is $27.70 and its two-hundred day moving average is $27.25.

Middlefield Banc (NASDAQ:MBCN - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The bank reported $0.60 EPS for the quarter, beating the consensus estimate of $0.48 by $0.12. Middlefield Banc had a net margin of 14.31% and a return on equity of 7.47%. The business had revenue of $18.04 million during the quarter, compared to analyst estimates of $17.23 million. Equities analysts predict that Middlefield Banc Corp. will post 1.96 EPS for the current year.

Middlefield Banc Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were issued a $0.21 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.84 annualized dividend and a dividend yield of 2.90%. Middlefield Banc's dividend payout ratio is currently 41.79%.

Institutional Investors Weigh In On Middlefield Banc

Large investors have recently modified their holdings of the business. Tower Research Capital LLC TRC raised its holdings in shares of Middlefield Banc by 122.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,319 shares of the bank's stock valued at $37,000 after purchasing an additional 726 shares in the last quarter. Deutsche Bank AG bought a new stake in shares of Middlefield Banc in the 1st quarter valued at about $155,000. GAMMA Investing LLC raised its holdings in shares of Middlefield Banc by 3,024.5% in the 1st quarter. GAMMA Investing LLC now owns 6,624 shares of the bank's stock valued at $185,000 after purchasing an additional 6,412 shares in the last quarter. Bank of America Corp DE grew its position in shares of Middlefield Banc by 29.4% in the 4th quarter. Bank of America Corp DE now owns 10,174 shares of the bank's stock worth $285,000 after buying an additional 2,310 shares during the last quarter. Finally, Nuveen LLC purchased a new position in shares of Middlefield Banc in the 1st quarter worth approximately $396,000. 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.