Middlefield Banc (NASDAQ:MBCN) Share Price Passes Below 50-Day Moving Average – Here’s Why

Middlefield Banc Corp. (NASDAQ:MBCN)’s share price crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $25.79 and traded as low as $25.61. Middlefield Banc shares last traded at $25.90, with a volume of 7,554 shares.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Keefe, Bruyette & Woods upped their price target on shares of Middlefield Banc from $30.00 to $32.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Hovde Group decreased their price target on shares of Middlefield Banc from $28.00 to $25.00 and set a “market perform” rating for the company in a research report on Monday, January 27th.

Middlefield Banc Trading Up 0.7 %

The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.06. The business’s 50-day simple moving average is $25.81 and its two-hundred day simple moving average is $27.92. The company has a market capitalization of $210.65 million, a PE ratio of 13.59 and a beta of 0.69.

Middlefield Banc (NASDAQ:MBCN) last posted its quarterly earnings data on Thursday, January 23rd. The bank reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. Middlefield Banc had a net margin of 14.31% and a return on equity of 7.47%. On average, analysts predict that Middlefield Banc Corp. will post 1.96 earnings per share for the current year.

Middlefield Banc Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.21 per share. This is a boost from Middlefield Banc’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.84 annualized dividend and a dividend yield of 3.22%. Middlefield Banc’s dividend payout ratio (DPR) is presently 43.75%.

Hedge Funds Weigh In On Middlefield Banc

Several large investors have recently modified their holdings of the stock. Geode Capital Management LLC lifted its position in shares of Middlefield Banc by 0.8% during the third quarter. Geode Capital Management LLC now owns 165,355 shares of the bank’s stock worth $4,763,000 after purchasing an additional 1,368 shares during the last quarter. State Street Corp lifted its position in shares of Middlefield Banc by 0.9% during the third quarter. State Street Corp now owns 102,516 shares of the bank’s stock worth $2,952,000 after purchasing an additional 963 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Middlefield Banc by 1.5% during 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. Huntington National Bank lifted its position in shares of Middlefield Banc by 10.1% during the fourth 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 during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of 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 purchasing an additional 13,651 shares during the last quarter. 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.