Middlefield Banc (NASDAQ:MBCN) Stock Passes Below 50 Day Moving Average - Here's Why

Middlefield Banc Corp. (NASDAQ:MBCN - Get Free Report) shares passed below its fifty day moving average during trading on Monday . The stock has a fifty 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.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods lifted their price objective on Middlefield Banc from $30.00 to $32.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th. StockNews.com upgraded shares of Middlefield Banc from a "sell" rating to a "hold" rating in a research note on Tuesday, November 12th.

Middlefield Banc Stock Performance

The business has a 50 day moving average of $29.82 and a 200-day moving average of $27.63. The company has a market capitalization of $207.42 million, a P/E ratio of 14.60 and a beta of 0.71. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.97 and a current ratio of 0.97.

Middlefield Banc (NASDAQ:MBCN - Get Free Report) last announced its quarterly earnings results on Thursday, October 17th. The bank reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.18). The company had revenue of $16.82 million for the quarter, compared to the consensus estimate of $17.10 million. Middlefield Banc had a net margin of 13.31% and a return on equity of 6.86%. On average, sell-side analysts predict that Middlefield Banc Corp. will post 1.79 EPS for the current fiscal year.

Middlefield Banc Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were given a dividend of $0.20 per share. The ex-dividend date was Friday, November 29th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.11%. Middlefield Banc's dividend payout ratio (DPR) is currently 45.45%.

Institutional Investors Weigh In On Middlefield Banc

Several hedge funds have recently bought and sold shares of the stock. FMR LLC lifted its holdings in shares of Middlefield Banc by 104.2% during the 3rd quarter. FMR LLC now owns 1,117 shares of the bank's stock worth $32,000 after acquiring an additional 570 shares during the last quarter. YHB Investment Advisors Inc. purchased a new position in shares of Middlefield Banc in the 3rd quarter worth about $225,000. Keeler & Nadler Financial Planning & Wealth Management bought a new position in shares of Middlefield Banc during the 4th quarter valued at about $282,000. JPMorgan Chase & Co. raised its holdings 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 buying an additional 6,832 shares in the last quarter. Finally, Empowered Funds LLC lifted its position in Middlefield Banc by 5.1% in the 3rd quarter. Empowered Funds LLC now owns 16,536 shares of the bank's stock worth $476,000 after buying an additional 804 shares during the last quarter. 31.72% of the stock is currently owned by institutional investors.

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.