Short Interest in Middlefield Banc Corp. (NASDAQ:MBCN) Drops By 20.0%

Middlefield Banc Corp. (NASDAQ:MBCN - Get Free Report) saw a large decrease in short interest during the month of December. As of December 31st, there was short interest totalling 76,400 shares, a decrease of 20.0% from the December 15th total of 95,500 shares. Based on an average daily volume of 11,200 shares, the days-to-cover ratio is currently 6.8 days.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Middlefield Banc

Hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its holdings in Middlefield Banc by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 165,355 shares of the bank's stock valued at $4,763,000 after purchasing an additional 1,368 shares during the period. Barclays PLC lifted 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 purchasing an additional 6,918 shares during the last quarter. FMR LLC lifted its holdings in Middlefield Banc by 104.2% during the 3rd quarter. FMR LLC now owns 1,117 shares of the bank's stock valued at $32,000 after purchasing an additional 570 shares during the last quarter. Empowered Funds LLC lifted its holdings in Middlefield Banc by 5.1% during the 3rd quarter. Empowered Funds LLC now owns 16,536 shares of the bank's stock valued at $476,000 after purchasing an additional 804 shares during the last quarter. Finally, State Street Corp lifted its holdings in Middlefield Banc by 0.9% during the 3rd quarter. State Street Corp now owns 102,516 shares of the bank's stock valued at $2,952,000 after purchasing an additional 963 shares during the last quarter. 31.72% of the stock is owned by institutional investors.

Middlefield Banc Stock Performance

NASDAQ:MBCN traded up $0.33 during midday trading on Wednesday, reaching $26.03. The stock had a trading volume of 6,526 shares, compared to its average volume of 10,514. Middlefield Banc has a 1-year low of $20.61 and a 1-year high of $34.00. The firm's fifty day simple moving average is $29.74 and its 200-day simple moving average is $27.64. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $210.09 million, a P/E ratio of 14.79 and a beta of 0.71.

Middlefield Banc (NASDAQ:MBCN - Get Free Report) last posted its earnings results on Thursday, October 17th. The bank reported $0.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.47 by ($0.18). Middlefield Banc had a net margin of 13.31% and a return on equity of 6.86%. The firm had revenue of $16.82 million during the quarter, compared to analyst estimates of $17.10 million. On average, equities research analysts forecast that Middlefield Banc will post 1.79 EPS for the current fiscal year.

Middlefield Banc Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date was Friday, November 29th. Middlefield Banc's dividend payout ratio (DPR) is presently 45.45%.

About Middlefield Banc

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.