Middlefield Banc (NASDAQ:MBCN) Shares Cross Above 50-Day Moving Average – What’s Next?

Middlefield Banc Corp. (NASDAQ:MBCN)’s share price passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $26.54 and traded as high as $28.20. Middlefield Banc shares last traded at $28.20, with a volume of 19,756 shares traded.

Middlefield Banc Trading Down 2.4 %

The company has a market cap of $226.68 million, a P/E ratio of 13.71 and a beta of 0.69. The stock’s 50 day moving average is $26.64 and its 200-day moving average is $24.26. The company has a current ratio of 0.97, a quick 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, July 18th. The bank reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.10. The company had revenue of $27.36 million for the quarter, compared to analysts’ expectations of $16.80 million. Middlefield Banc had a net margin of 15.06% and a return on equity of 7.74%. Research analysts anticipate that Middlefield Banc Corp. will post 1.95 earnings per share for the current fiscal year.

Middlefield Banc Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date was Friday, August 30th. Middlefield Banc’s dividend payout ratio (DPR) is 39.02%.

Hedge Funds Weigh In On Middlefield Banc

A number of hedge funds have recently bought and sold shares of the business. Virtu Financial LLC purchased a new stake in Middlefield Banc in the 4th quarter worth approximately $273,000. Vanguard Group Inc. increased its holdings in Middlefield Banc by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 386,196 shares of the bank’s stock worth $9,222,000 after acquiring an additional 3,782 shares in the last quarter. BNP Paribas Financial Markets increased 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 worth $88,000 after acquiring an additional 1,204 shares in the last quarter. Finally, Redmont Wealth Advisors LLC increased its holdings in 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 in the last quarter. Hedge funds and other institutional investors 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.