Middlefield Banc (NASDAQ:MBCN) Shares Pass 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.

Wall Street Analyst Weigh In

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

Middlefield Banc Stock Down 4.1%

The firm has a 50 day simple moving average of $27.60 and a two-hundred day simple moving average of $27.32. The stock has a market capitalization of $228.21 million, a P/E ratio of 14.71 and a beta of 0.42. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.06.

Middlefield Banc (NASDAQ:MBCN - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The bank reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.12. Middlefield Banc had a return on equity of 7.47% and a net margin of 14.31%. The business had revenue of $18.04 million during the quarter, compared to the consensus estimate of $17.23 million. On average, equities research analysts expect that Middlefield Banc Corp. will post 1.96 earnings per share for the current year.

Middlefield Banc Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were paid a $0.21 dividend. The ex-dividend date was Friday, May 30th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.97%. Middlefield Banc's payout ratio is currently 41.79%.

Institutional Trading of Middlefield Banc

A number of hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC grew its position in Middlefield Banc by 122.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,319 shares of the bank's stock worth $37,000 after acquiring an additional 726 shares during the last quarter. Deutsche Bank AG bought a new stake in Middlefield Banc during the 1st quarter worth approximately $155,000. GAMMA Investing LLC increased its position in 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 acquiring an additional 6,412 shares during the period. Bank of America Corp DE raised its stake 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 acquiring an additional 2,310 shares during the last quarter. Finally, Nuveen LLC bought a new stake in shares of Middlefield Banc in the first quarter worth $396,000. 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.