Middlefield Banc (NASDAQ:MBCN) Stock Passes Above 50 Day Moving Average – What’s Next?

Middlefield Banc Corp. (NASDAQ:MBCN) passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $26.98 and traded as high as $30.62. Middlefield Banc shares last traded at $30.40, with a volume of 15,825 shares changing hands.

Middlefield Banc Price Performance

The company has a debt-to-equity ratio of 0.06, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $245.24 million, a price-to-earnings ratio of 14.83 and a beta of 0.69. The stock has a 50 day moving average price of $26.98 and a 200-day moving average price of $24.38.

Middlefield Banc (NASDAQ:MBCN) last announced its quarterly earnings data on Thursday, July 18th. The bank reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.10. The company had revenue of $27.36 million for the quarter, compared to analyst estimates of $16.80 million. Middlefield Banc had a return on equity of 7.74% and a net margin of 15.06%. On average, analysts forecast that Middlefield Banc Corp. will post 1.96 earnings per share for the current year.

Middlefield Banc Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a dividend of $0.20 per share. The ex-dividend date was Friday, August 30th. This represents a $0.80 annualized dividend and a yield of 2.63%. Middlefield Banc’s dividend payout ratio is presently 39.02%.

Institutional Trading of Middlefield Banc

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Middlefield Banc by 1.0% in the first quarter. Vanguard Group Inc. now owns 386,196 shares of the bank’s stock valued at $9,222,000 after purchasing an additional 3,782 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in Middlefield Banc by 48.9% in the 1st quarter. BNP Paribas Financial Markets now owns 3,668 shares of the bank’s stock valued at $88,000 after buying an additional 1,204 shares in the last quarter. Redmont Wealth Advisors LLC increased its stake in shares of Middlefield Banc by 14.2% in the 1st quarter. Redmont Wealth Advisors LLC now owns 32,017 shares of the bank’s stock worth $765,000 after acquiring an additional 3,989 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Middlefield Banc during the 4th quarter valued at about $273,000. 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.