Middlefield Banc Corp. (NASDAQ:MBCN) Short Interest Down 13.2% in January

Middlefield Banc Corp. (NASDAQ:MBCN) was the recipient of a significant drop in short interest during the month of 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. Approximately 0.4% of the company’s stock are sold short. Based on an average daily volume of 22,869 shares, the short-interest ratio is currently 1.4 days. Based on an average daily volume of 22,869 shares, the short-interest ratio is currently 1.4 days. Approximately 0.4% of the company’s stock are sold short.

Middlefield Banc Stock Performance

NASDAQ:MBCN opened at $34.60 on Thursday. The firm has a market capitalization of $279.91 million, a PE ratio of 14.48 and a beta of 0.38. Middlefield Banc has a 1 year low of $22.74 and a 1 year high of $37.67. 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 firm’s fifty day simple moving average is $34.95 and its 200 day simple moving average is $32.63.

Middlefield Banc (NASDAQ:MBCN) last released its quarterly earnings results on Tuesday, February 10th. The bank reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.27). The firm had revenue of $19.34 million for 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%. On average, sell-side analysts anticipate that Middlefield Banc will post 1.96 EPS for the current year.

Middlefield Banc Announces Dividend

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 issued a dividend of $0.21 per share. The ex-dividend date is Tuesday, February 17th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.4%. Middlefield Banc’s payout ratio is 35.15%.

Hedge Funds Weigh In On Middlefield Banc

Several large investors have recently bought and sold shares of MBCN. Empowered Funds LLC boosted its holdings in Middlefield Banc by 3.5% in the 1st quarter. Empowered Funds LLC now owns 17,863 shares of the bank’s stock valued at $499,000 after purchasing an additional 598 shares during the period. Geode Capital Management LLC raised its position in shares of Middlefield Banc by 2.0% during the second quarter. Geode Capital Management LLC now owns 171,134 shares of the bank’s stock valued at $5,154,000 after buying an additional 3,308 shares during the last quarter. Police & Firemen s Retirement System of New Jersey lifted its stake in shares of Middlefield Banc by 107.2% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 2,047 shares of the bank’s stock valued at $62,000 after buying an additional 1,059 shares during the period. Hsbc Holdings PLC acquired a new stake in Middlefield Banc during the second quarter worth about $307,000. Finally, Fisher Asset Management LLC bought a new position in Middlefield Banc during the second quarter valued at about $1,056,000. 31.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MBCN has been the topic of several research reports. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $35.00 target price (up from $32.00) on shares of Middlefield Banc in a research report on Thursday, October 23rd. Zacks Research upgraded Middlefield Banc from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 20th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Middlefield Banc in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $35.00.

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.