Middlefield Banc (NASDAQ:MBCN) Stock Crosses Above 50 Day Moving Average – Here’s Why

Shares of Middlefield Banc Corp. (NASDAQ:MBCN) passed above its fifty day moving average during trading on Tuesday . The stock has a fifty 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 changing hands.

Middlefield Banc Stock Up 0.0 %

The stock has a market cap of $227.49 million, a P/E ratio of 13.76 and a beta of 0.69. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.06. The business has a 50-day simple moving average of $26.54 and a 200-day simple moving average of $24.20.

Middlefield Banc (NASDAQ:MBCN) last posted its quarterly earnings data on Thursday, July 18th. The bank reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.10. Middlefield Banc had a net margin of 15.06% and a return on equity of 7.74%. The company had revenue of $27.36 million for the quarter, compared to the consensus estimate of $16.80 million. Analysts expect that Middlefield Banc Corp. will post 1.95 EPS for the current year.

Middlefield Banc Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a $0.20 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.84%. Middlefield Banc’s dividend payout ratio is currently 39.02%.

Institutional Trading of Middlefield Banc

Institutional investors and hedge funds have recently modified their holdings of the company. Virtu Financial LLC bought a new stake in Middlefield Banc in the 4th quarter valued at $273,000. Redmont Wealth Advisors LLC boosted its holdings in Middlefield Banc by 14.2% during the first quarter. Redmont Wealth Advisors LLC now owns 32,017 shares of the bank’s stock valued at $765,000 after purchasing an additional 3,989 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of 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 purchasing an additional 1,204 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Middlefield Banc by 1.0% in the 1st 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 during the period. 31.72% of the stock is currently owned by institutional investors.

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.