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

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

Institutional Investors Weigh In On Middlefield Banc

A number of large investors have recently added to or reduced their stakes in MBCN. Empowered Funds LLC grew its stake in Middlefield Banc by 3.5% in the 1st quarter. Empowered Funds LLC now owns 17,863 shares of the bank’s stock worth $499,000 after acquiring an additional 598 shares during the period. Bridgeway Capital Management LLC lifted its stake in shares of Middlefield Banc by 1.5% during the 2nd quarter. Bridgeway Capital Management LLC now owns 48,603 shares of the bank’s stock worth $1,463,000 after purchasing an additional 740 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of Middlefield Banc by 102.1% during the third quarter. BNP Paribas Financial Markets now owns 1,512 shares of the bank’s stock worth $45,000 after purchasing an additional 764 shares during the last quarter. Police & Firemen s Retirement System of New Jersey grew its position 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 purchasing an additional 1,059 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of Middlefield Banc by 21.2% in the third quarter. JPMorgan Chase & Co. now owns 7,504 shares of the bank’s stock valued at $225,000 after purchasing an additional 1,313 shares during the period. 31.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Middlefield Banc Price Performance

Shares of MBCN stock traded up $0.31 during midday trading on Friday, reaching $35.04. 19,204 shares of the company traded hands, compared to its average volume of 12,683. The firm’s 50 day simple moving average is $34.89 and its two-hundred day simple moving average is $31.93. The firm has a market cap of $283.47 million, a PE ratio of 13.43 and a beta of 0.40. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.99 and a quick ratio of 0.99. Middlefield Banc has a 1-year low of $22.74 and a 1-year high of $37.67.

Middlefield Banc (NASDAQ:MBCN) last released its quarterly earnings data on Wednesday, October 22nd. The bank reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.01. The firm had revenue of $19.89 million during the quarter, compared to the consensus estimate 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 expect that Middlefield Banc will post 1.96 EPS for the current fiscal year.

Middlefield Banc Dividend Announcement

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

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.