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

Middlefield Banc Corp. (NASDAQ:MBCN) was the target 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. Based on an average daily trading volume, of 22,869 shares, the days-to-cover ratio is presently 1.4 days. Currently, 0.4% of the company’s stock are sold short. Currently, 0.4% of the company’s stock are sold short. Based on an average daily trading volume, of 22,869 shares, the days-to-cover ratio is presently 1.4 days.

Middlefield Banc Price Performance

Shares of Middlefield Banc stock traded up $0.23 on Tuesday, hitting $34.95. The company had a trading volume of 6,111 shares, compared to its average volume of 41,163. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market cap of $282.75 million, a PE ratio of 14.66 and a beta of 0.38. The business has a 50-day simple moving average of $35.02 and a 200-day simple moving average of $32.56. Middlefield Banc has a 52 week low of $22.74 and a 52 week high of $37.67.

Middlefield Banc (NASDAQ:MBCN) last posted its quarterly earnings results on Tuesday, February 10th. The bank reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.27). The company had revenue of $19.34 million during the quarter, compared to the consensus estimate of $19.97 million. Middlefield Banc had a net margin of 16.65% and a return on equity of 8.91%. Research analysts expect that Middlefield Banc will post 1.96 EPS for the current fiscal year.

Middlefield Banc Announces Dividend

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

Institutional Trading of Middlefield Banc

A number of hedge funds and other institutional investors have recently made changes to their positions in MBCN. Squarepoint Ops LLC bought a new stake in Middlefield Banc in the fourth quarter valued at approximately $390,000. Barclays PLC boosted its stake in shares of Middlefield Banc by 8.5% in the 4th quarter. Barclays PLC now owns 26,761 shares of the bank’s stock valued at $924,000 after purchasing an additional 2,087 shares during the last quarter. Glazer Capital LLC acquired a new stake in shares of Middlefield Banc during the fourth quarter worth $1,819,000. State Street Corp raised its stake in Middlefield Banc by 8.1% during the fourth quarter. State Street Corp now owns 112,447 shares of the bank’s stock worth $3,884,000 after buying an additional 8,422 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in Middlefield Banc by 15.7% in the fourth quarter. Wells Fargo & Company MN now owns 19,053 shares of the bank’s stock valued at $658,000 after buying an additional 2,588 shares during the period. 31.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on MBCN shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Middlefield Banc in a research note on Monday, December 29th. Zacks Research upgraded 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 objective (up previously 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 and two have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $35.00.

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.