Middlefield Banc Corp. (NASDAQ:MBCN) Short Interest Down 31.9% in December

Middlefield Banc Corp. (NASDAQ:MBCN) was the target of a large drop in short interest during the month of December. As of December 31st, there was short interest totaling 32,679 shares, a drop of 31.9% from the December 15th total of 48,018 shares. Based on an average daily trading volume, of 13,769 shares, the days-to-cover ratio is presently 2.4 days. Approximately 0.4% of the shares of the company are sold short. Approximately 0.4% of the shares of the company are sold short. Based on an average daily trading volume, of 13,769 shares, the days-to-cover ratio is presently 2.4 days.

Analyst Ratings Changes

A number of research analysts have weighed in on MBCN shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Middlefield Banc in a research report on Monday, December 29th. Zacks Research downgraded Middlefield Banc from a “hold” rating to a “strong sell” rating in a research note on Monday, December 22nd. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $35.00 price target (up from $32.00) on shares of Middlefield Banc in a research report on Thursday, October 23rd. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $30.00.

Institutional Trading of Middlefield Banc

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Alliancebernstein L.P. lifted its stake in Middlefield Banc by 9.9% during the third quarter. Alliancebernstein L.P. now owns 197,516 shares of the bank’s stock worth $5,927,000 after purchasing an additional 17,804 shares during the period. Geode Capital Management LLC grew its stake in shares of Middlefield Banc by 2.0% in the 2nd quarter. Geode Capital Management LLC now owns 171,134 shares of the bank’s stock valued at $5,154,000 after purchasing an additional 3,308 shares during the period. Elizabeth Park Capital Advisors Ltd. lifted its position in shares of Middlefield Banc by 11.8% during the 3rd 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 during the period. Bridgeway Capital Management LLC lifted its position in shares of Middlefield Banc by 3.7% during the 3rd quarter. Bridgeway Capital Management LLC now owns 50,422 shares of the bank’s stock worth $1,513,000 after buying an additional 1,819 shares during the period. Finally, Fisher Asset Management LLC acquired a new stake in Middlefield Banc in the 2nd quarter valued at $1,056,000. Institutional investors own 31.72% of the company’s stock.

Middlefield Banc Stock Performance

Middlefield Banc stock traded up $0.31 during trading hours on Friday, hitting $35.04. The stock had a trading volume of 19,202 shares, compared to its average volume of 16,027. The company has a 50-day moving average of $34.88 and a two-hundred day moving average of $31.89. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.05. Middlefield Banc has a fifty-two week low of $22.74 and a fifty-two week high of $37.67. The company has a market cap of $283.47 million, a PE ratio of 13.43 and a beta of 0.40.

Middlefield Banc (NASDAQ:MBCN) last announced its quarterly earnings data on Wednesday, October 22nd. The bank reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.01. The company had revenue of $19.89 million for the quarter, compared to analyst estimates of $19.57 million. Middlefield Banc had a return on equity of 9.79% and a net margin of 18.39%. On average, equities research analysts anticipate that Middlefield Banc will post 1.96 EPS for the current fiscal year.

Middlefield Banc Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, November 28th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Friday, November 28th. Middlefield Banc’s dividend payout ratio (DPR) is presently 32.18%.

About Middlefield Banc

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.