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

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

Middlefield Banc Stock Down 0.5%

NASDAQ:MBCN opened at $34.87 on Wednesday. Middlefield Banc has a 52 week low of $22.74 and a 52 week high of $37.67. The stock’s fifty day moving average is $35.00 and its two-hundred day moving average is $32.62. The stock has a market capitalization of $282.10 million, a price-to-earnings ratio of 14.59 and a beta of 0.38. 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 (NASDAQ:MBCN) last posted its quarterly earnings data 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). Middlefield Banc had a net margin of 16.65% and a return on equity of 8.91%. The firm had revenue of $19.34 million during the quarter, compared to analysts’ expectations of $19.97 million. Research analysts anticipate that Middlefield Banc will post 1.96 EPS for the current year.

Middlefield Banc Announces Dividend

The firm also recently disclosed 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 of this dividend 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%.

Institutional Investors Weigh In On Middlefield Banc

A number of hedge funds have recently added to or reduced their stakes in the business. Alliancebernstein L.P. boosted its position in Middlefield Banc by 9.9% in the 3rd quarter. Alliancebernstein L.P. now owns 197,516 shares of the bank’s stock valued at $5,927,000 after buying an additional 17,804 shares during the period. Geode Capital Management LLC boosted its holdings in Middlefield Banc by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 172,196 shares of the bank’s stock valued at $5,949,000 after purchasing an additional 1,458 shares during the period. State Street Corp grew its stake 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 purchasing an additional 8,422 shares in the last quarter. Elizabeth Park Capital Advisors Ltd. increased its holdings in 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 purchasing an additional 10,190 shares during the period. Finally, Gardner Lewis Asset Management L P acquired a new stake in Middlefield Banc in the 4th quarter valued at about $3,225,000. 31.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on MBCN. Weiss Ratings restated a “buy (b-)” rating on shares of Middlefield Banc in a research report on Monday, December 29th. Zacks Research upgraded shares of Middlefield Banc from a “strong sell” rating to a “hold” rating in a report 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 research report on Thursday, October 23rd. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus 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.