Middlefield Banc (NASDAQ:MBCN) Stock Crosses Below 50 Day Moving Average of $22.19

Shares of Middlefield Banc Corp. (NASDAQ:MBCN) passed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $22.19 and traded as low as $21.63. Middlefield Banc shares last traded at $24.05, with a volume of 58,739 shares.

Analyst Upgrades and Downgrades

Several research firms recently commented on MBCN. StockNews.com upgraded Middlefield Banc from a “sell” rating to a “hold” rating in a research note on Thursday, May 30th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $25.00 price objective (down previously from $30.00) on shares of Middlefield Banc in a research note on Thursday, May 2nd. Finally, Hovde Group decreased their target price on shares of Middlefield Banc from $25.00 to $23.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 1st.

Middlefield Banc Stock Up 9.1 %

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 firm has a market capitalization of $194.01 million, a PE ratio of 11.73 and a beta of 0.65. The firm has a 50-day moving average of $22.19 and a two-hundred day moving average of $25.26.

Middlefield Banc (NASDAQ:MBCN) last released its quarterly earnings data on Tuesday, April 30th. The bank reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.09. Middlefield Banc had a return on equity of 8.25% and a net margin of 16.41%. The company had revenue of $26.41 million for the quarter, compared to the consensus estimate of $17.10 million. On average, equities research analysts forecast that Middlefield Banc Corp. will post 1.75 EPS for the current year.

Middlefield Banc Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were paid a dividend of $0.20 per share. The ex-dividend date was Friday, May 31st. This represents a $0.80 annualized dividend and a yield of 3.33%. Middlefield Banc’s dividend payout ratio is currently 39.02%.

Hedge Funds Weigh In On Middlefield Banc

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in Middlefield Banc by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 386,196 shares of the bank’s stock worth $9,222,000 after purchasing an additional 3,782 shares during the period. Redmont Wealth Advisors LLC boosted its position in shares of Middlefield Banc by 14.2% in the first quarter. Redmont Wealth Advisors LLC now owns 32,017 shares of the bank’s stock worth $765,000 after buying an additional 3,989 shares during the period. Cerity Partners LLC acquired a new stake in shares of Middlefield Banc in the fourth quarter valued at about $290,000. Virtu Financial LLC purchased a new stake in shares of Middlefield Banc during the 4th quarter valued at about $273,000. Finally, BNP Paribas Financial Markets lifted its position in Middlefield Banc by 48.9% during the 1st quarter. BNP Paribas Financial Markets now owns 3,668 shares of the bank’s stock worth $88,000 after acquiring an additional 1,204 shares in the last quarter. Hedge funds and other 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.