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

Middlefield Banc Corp. (NASDAQ:MBCN)’s share price crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $35.13 and traded as low as $32.50. Middlefield Banc shares last traded at $33.23, with a volume of 11,600 shares.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Middlefield Banc in a report on Monday, December 29th. Zacks Research upgraded shares of Middlefield Banc from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 20th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $35.00 price target (up previously from $32.00) on shares of Middlefield Banc in a report on Thursday, October 23rd. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $35.00.

Middlefield Banc Stock Performance

The company has a market cap of $268.83 million, a P/E ratio of 12.73 and a beta of 0.40. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.05. The business has a fifty day simple moving average of $35.13 and a two-hundred day simple moving average of $32.15.

Middlefield Banc Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Friday, November 28th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.5%. The ex-dividend date was Friday, November 28th. Middlefield Banc’s payout ratio is 32.18%.

Institutional Trading of Middlefield Banc

Several institutional investors and hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its holdings in shares of Middlefield Banc by 21.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,504 shares of the bank’s stock worth $225,000 after purchasing an additional 1,313 shares during the period. Citadel Advisors LLC boosted its holdings in shares of Middlefield Banc by 36.7% in the third quarter. Citadel Advisors LLC now owns 28,515 shares of the bank’s stock valued at $856,000 after purchasing an additional 7,649 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of Middlefield Banc by 9.9% in the 3rd quarter. Alliancebernstein L.P. now owns 197,516 shares of the bank’s stock worth $5,927,000 after buying an additional 17,804 shares during the period. Bridgeway Capital Management LLC lifted its stake in Middlefield Banc by 3.7% in the third quarter. Bridgeway Capital Management LLC now owns 50,422 shares of the bank’s stock worth $1,513,000 after acquiring an additional 1,819 shares during the period. Finally, Elizabeth Park Capital Advisors Ltd. raised its stake in Middlefield Banc by 11.8% in the third quarter. Elizabeth Park Capital Advisors Ltd. now owns 96,497 shares of the bank’s stock worth $2,896,000 after buying an additional 10,190 shares in the last quarter. 31.72% of the stock is currently owned by institutional investors.

Middlefield Banc Company Profile

Middlefield Banc is a bank holding company headquartered in Middlefield, Ohio, operating through its subsidiary, Middlefield Banking Company. The firm offers a suite of deposit products, including checking, savings, money market accounts and certificates of deposit, alongside comprehensive cash management solutions designed for both individual consumers and businesses.

On the lending side, Middlefield Banc specializes in commercial and residential real estate loans, consumer installment loans and lines of credit.