Middlefield Banc Corp. (NASDAQ:MBCN) Brief Interest Update

Middlefield Banc Corp. (NASDAQ:MBCN – Get Rating) was the target of a sharp decline in short interest in March. As of March 15, there was short interest totaling 1,800 shares, down 58.1% from February 28’s total of 4,300 shares. Based on an average daily trading volume of 6,100 shares, the short-term interest rate ratio is currently 0.3 days. Currently, 0.0% of the company’s shares are sold short.

Several hedge funds and other institutional investors have recently changed their positions in MBCN. Marshall Wace LLP bought a new stake in Middlefield Banc in the fourth quarter worth approximately $44,000. Royal Bank of Canada increased its holdings in Middlefield Banc by 229.6% in the second quarter. Royal Bank of Canada now owns 2,037 shares of the bank worth $48,000 after purchasing an additional 1,419 shares during the period. Barclays PLC increased its stake in Middlefield Banc by 230.3% in the fourth quarter. Barclays PLC now owns 2,309 shares in the bank worth $57,000 after buying an additional 1,610 shares during the period. UBS Group AG increased its stake in Middlefield Banc by 21.6% in the third quarter. UBS Group AG now owns 2,977 shares in the bank worth $71,000 after purchasing an additional 529 shares during the period. Finally, Acadian Asset Management LLC acquired a new stake in Middlefield Banc in the fourth quarter valued at approximately $133,000. Institutional investors hold 30.23% of the company’s shares.

MBCN shares were up $0.13 during Friday’s midday session, hitting $25.00. The stock had a trading volume of 3,686 shares, compared to an average volume of 6,699. The stock’s 50-day moving average price is $25.38 and its two-hundred-day moving average price is $25.12. Middlefield Banc has a 52-week low of $20.45 and a 52-week high of $27.77. The company has a market capitalization of $149.25 million, a PE ratio of 8.31 and a beta of 0.78. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt ratio of 0.09.

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Middlefield Banc (NASDAQ:MBCN – Get Rating) last announced its quarterly results on Tuesday, January 25. The bank reported earnings per share (EPS) of $0.81 for the quarter, beating the consensus estimate of $0.79 by $0.02. Middlefield Banc posted a net margin of 31.29% and a return on equity of 12.80%. The company posted revenue of $13.53 million for the quarter, compared to analysts’ expectations of $14.00 million. On average, equity research analysts expect Middlefield Banc to post earnings per share of 2.42 for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 15. Investors of record on Friday, March 4 received a dividend of $0.17 per share. This represents an annualized dividend of $0.68 and a dividend yield of 2.72%. The ex-dividend date was Thursday, March 3. Middlefield Banc’s dividend payout ratio is currently 22.59%.

A number of research analysts have weighed in on the stock recently. Zacks Investment Research upgraded shares of Middlefield Banc from a “hold” rating to a “strong-buy” rating and set a price target of $29.00 for the company in a Tuesday, February 1 research note. StockNews.com launched coverage on Middlefield Banc shares in a research report on Saturday. They set a “buy” rating for the company.

About Middlefield Bench (Get a rating)

Middlefield Banc Corp. is a holding company that provides personal and commercial banking solutions. It offers checking accounts, savings accounts, negotiable withdrawal orders, money market accounts, term deposit certificates, business loans, home loans, a variety of consumer loans, safe deposit boxes and traveler’s check services.

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