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

Shares of Middlefield Banc Corp. (NASDAQ:MBCN) crossed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $29.90 and traded as low as $24.25. Middlefield Banc shares last traded at $25.13, with a volume of 11,099 shares trading hands.

Analysts Set New Price Targets

Several equities analysts have recently commented on MBCN shares. StockNews.com raised Middlefield Banc from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Keefe, Bruyette & Woods upped their price objective on Middlefield Banc from $30.00 to $32.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th.

Middlefield Banc Stock Performance

The firm has a market capitalization of $210.09 million, a price-to-earnings ratio of 14.79 and a beta of 0.71. The company has a 50-day moving average price of $29.59 and a 200-day moving average price of $27.63. 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) last announced its quarterly earnings results on Thursday, October 17th. The bank reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.18). Middlefield Banc had a return on equity of 6.86% and a net margin of 13.31%. The business had revenue of $16.82 million for the quarter, compared to analyst estimates of $17.10 million. As a group, equities research analysts forecast that Middlefield Banc Corp. will post 1.79 earnings per share for the current year.

Middlefield Banc Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a $0.20 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.80 dividend on an annualized basis and a yield of 3.07%. Middlefield Banc’s dividend payout ratio is presently 45.45%.

Institutional Trading of Middlefield Banc

A number of institutional investors have recently made changes to their positions in the stock. Keeler & Nadler Financial Planning & Wealth Management bought a new stake in Middlefield Banc during the fourth quarter worth approximately $282,000. JPMorgan Chase & Co. increased its position in shares of Middlefield Banc by 127.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 12,180 shares of the bank’s stock valued at $351,000 after purchasing an additional 6,832 shares during the period. Barclays PLC raised its stake in shares of Middlefield Banc by 69.2% in the 3rd quarter. Barclays PLC now owns 16,916 shares of the bank’s stock worth $487,000 after buying an additional 6,918 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Middlefield Banc by 0.8% in the third quarter. Geode Capital Management LLC now owns 165,355 shares of the bank’s stock valued at $4,763,000 after buying an additional 1,368 shares during the period. Finally, State Street Corp lifted its holdings in shares of Middlefield Banc by 0.9% in the third quarter. State Street Corp now owns 102,516 shares of the bank’s stock valued at $2,952,000 after buying an additional 963 shares during the period. 31.72% of the stock is owned by institutional investors and hedge funds.

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.