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

MBCN has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods raised their price target on shares of Middlefield Banc from $30.00 to $32.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. StockNews.com upgraded Middlefield Banc from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th.

Middlefield Banc Stock Performance

The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market capitalization of $210.09 million, a PE 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.

Middlefield Banc (NASDAQ:MBCN) last posted its quarterly earnings results on Thursday, October 17th. The bank reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.18). The company had revenue of $16.82 million during the quarter, compared to analyst estimates of $17.10 million. Middlefield Banc had a net margin of 13.31% and a return on equity of 6.86%. Equities analysts forecast that Middlefield Banc Corp. will post 1.79 EPS for the current year.

Middlefield Banc Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were paid 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 (DPR) is 45.45%.

Institutional Trading of Middlefield Banc

Several institutional investors and hedge funds have recently bought and sold shares of the company. FMR LLC grew its position in shares of Middlefield Banc by 104.2% in the 3rd quarter. FMR LLC now owns 1,117 shares of the bank’s stock worth $32,000 after acquiring an additional 570 shares in the last quarter. YHB Investment Advisors Inc. bought a new position in Middlefield Banc during the third quarter worth $225,000. Keeler & Nadler Financial Planning & Wealth Management acquired a new position in Middlefield Banc in the fourth quarter worth $282,000. JPMorgan Chase & Co. increased its stake in Middlefield Banc by 127.7% during the third 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 last quarter. Finally, Empowered Funds LLC raised its holdings in shares of Middlefield Banc by 5.1% during the third quarter. Empowered Funds LLC now owns 16,536 shares of the bank’s stock worth $476,000 after purchasing an additional 804 shares during the period. 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.