Short Interest in Middlefield Banc Corp. (NASDAQ:MBCN) Drops By 14.1%

Middlefield Banc Corp. (NASDAQ:MBCN) saw a large decline in short interest during the month of December. As of December 15th, there was short interest totalling 95,500 shares, a decline of 14.1% from the November 30th total of 111,200 shares. Based on an average trading volume of 10,900 shares, the short-interest ratio is currently 8.8 days.

Middlefield Banc Price Performance

Shares of NASDAQ:MBCN opened at $28.15 on Friday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $227.20 million, a PE ratio of 15.99 and a beta of 0.69. The firm’s 50 day moving average price is $30.08 and its 200-day moving average price is $27.14. Middlefield Banc has a twelve month low of $20.61 and a twelve month high of $34.40.

Middlefield Banc (NASDAQ:MBCN) last released its quarterly earnings results on Thursday, October 17th. The bank reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.18). Middlefield Banc had a return on equity of 6.86% and a net margin of 13.31%. The business had revenue of $16.82 million during the quarter, compared to the consensus estimate of $17.10 million. Equities research analysts expect that Middlefield Banc will post 1.79 EPS for the current year.

Middlefield Banc Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were paid a $0.20 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.80 dividend on an annualized basis and a yield of 2.84%. Middlefield Banc’s payout ratio is presently 45.45%.

Analyst Ratings Changes

Several analysts have commented on the company. Keefe, Bruyette & Woods increased their target price on Middlefield Banc from $30.00 to $32.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. StockNews.com upgraded shares of Middlefield Banc from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th.

Hedge Funds Weigh In On Middlefield Banc

Hedge funds have recently made changes to their positions in the business. FMR LLC lifted its stake in Middlefield Banc by 104.2% in the 3rd quarter. FMR LLC now owns 1,117 shares of the bank’s stock worth $32,000 after purchasing an additional 570 shares in the last quarter. YHB Investment Advisors Inc. bought a new stake in shares of Middlefield Banc in the third quarter worth about $225,000. JPMorgan Chase & Co. lifted its position in shares of Middlefield Banc by 127.7% in the third quarter. JPMorgan Chase & Co. now owns 12,180 shares of the bank’s stock worth $351,000 after buying an additional 6,832 shares in the last quarter. Empowered Funds LLC boosted its stake in Middlefield Banc by 5.1% during the third quarter. Empowered Funds LLC now owns 16,536 shares of the bank’s stock valued at $476,000 after buying an additional 804 shares during the last quarter. Finally, Barclays PLC grew its holdings in Middlefield Banc by 69.2% during the 3rd quarter. Barclays PLC now owns 16,916 shares of the bank’s stock valued at $487,000 after buying an additional 6,918 shares in the last quarter. Institutional investors own 31.72% of the company’s stock.

Middlefield Banc Company Profile

Middlefield Banc Corp. operates as the bank holding company for The Middlefield Banking Company that provides various commercial banking services to small and medium-sized businesses, professionals, small business owners, and retail customers in northeastern and central Ohio. It offers checking, savings, negotiable order of withdrawal accounts, money market accounts, time certificates of deposit, commercial loans, real estate loans, various consumer loans, safe deposit facilities, and travelers' checks.