Short Interest in Middlefield Banc Corp. (NASDAQ:MBCN) Drops By 13.2%

Middlefield Banc Corp. (NASDAQ:MBCN) was the recipient of a significant drop in short interest in January. As of January 30th, there was short interest totaling 32,355 shares, a drop of 13.2% from the January 15th total of 37,266 shares. Currently, 0.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 22,869 shares, the short-interest ratio is currently 1.4 days. Based on an average daily trading volume, of 22,869 shares, the short-interest ratio is currently 1.4 days. Currently, 0.4% of the shares of the stock are sold short.

Analyst Ratings Changes

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

Middlefield Banc Price Performance

Shares of Middlefield Banc stock traded up $0.23 during midday trading on Tuesday, reaching $34.95. The company had a trading volume of 6,111 shares, compared to its average volume of 41,163. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.05. The stock has a fifty day simple moving average of $35.02 and a 200 day simple moving average of $32.56. Middlefield Banc has a 1-year low of $22.74 and a 1-year high of $37.67. The company has a market capitalization of $282.75 million, a price-to-earnings ratio of 14.66 and a beta of 0.38.

Middlefield Banc (NASDAQ:MBCN) last released its quarterly earnings results on Tuesday, February 10th. The bank reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.27). The business had revenue of $19.34 million for the quarter, compared to analyst estimates of $19.97 million. Middlefield Banc had a return on equity of 8.91% and a net margin of 16.65%. As a group, equities research analysts forecast that Middlefield Banc will post 1.96 earnings per share for the current year.

Middlefield Banc Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Tuesday, February 17th will be paid a $0.21 dividend. The ex-dividend date is Tuesday, February 17th. This represents a $0.84 annualized dividend and a dividend yield of 2.4%. Middlefield Banc’s dividend payout ratio (DPR) is presently 35.15%.

Hedge Funds Weigh In On Middlefield Banc

Institutional investors and hedge funds have recently bought and sold shares of the company. Squarepoint Ops LLC acquired a new position in shares of Middlefield Banc in the fourth quarter worth approximately $390,000. Barclays PLC lifted its position in shares of Middlefield Banc by 8.5% in the 4th quarter. Barclays PLC now owns 26,761 shares of the bank’s stock worth $924,000 after purchasing an additional 2,087 shares during the period. Glazer Capital LLC acquired a new stake in shares of Middlefield Banc during the fourth quarter worth $1,819,000. State Street Corp grew its holdings in Middlefield Banc by 8.1% during the 4th quarter. State Street Corp now owns 112,447 shares of the bank’s stock worth $3,884,000 after acquiring an additional 8,422 shares during the period. Finally, Wells Fargo & Company MN grew its holdings in Middlefield Banc by 15.7% during the 4th quarter. Wells Fargo & Company MN now owns 19,053 shares of the bank’s stock worth $658,000 after acquiring an additional 2,588 shares during the period. Institutional investors and hedge funds own 31.72% of the company’s stock.

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.