The short interest in Middlefield Banc Corp. (NASDAQ:MBCN) down 17.3%


Middlefield Banc Corp. (NASDAQ:MBCN – Get Rating) was the target of a sharp drop in short interest in August. As of August 31, there was short interest totaling 9,100 shares, down 17.3% from the total of 11,000 shares as of August 15. Based on an average daily volume of 9,400 shares, the day-to-cover ratio is currently 1.0 day. Approximately 0.2% of the company’s shares are sold short.

Institutional entries and exits

Institutional investors and hedge funds have recently changed their holdings in the company. Private Trust Co. NA purchased a new stake in Middlefield Banc during Q2 for approximately $96,000. Carnegie Capital Asset Management LLC increased its position in Middlefield Banc by 34.2% during the second quarter. Carnegie Capital Asset Management LLC now owns 170,434 shares of the bank worth $4,022,000 after buying an additional 43,400 shares in the last quarter. Redmont Wealth Advisors LLC increased its position in Middlefield Banc by 17.0% in Q1. Redmont Wealth Advisors LLC now owns 18,165 shares of the bank worth $451,000 after buying 2,640 additional shares in the last quarter. State Street Corp increased its position in Middlefield Banc by 8.1% in the first quarter. State Street Corp now owns 17,700 shares of the bank worth $439,000 after buying 1,323 more shares in the last quarter. Finally, Fourthstone LLC increased its position in Middlefield Banc by 55.4% in the 1st quarter. Fourthstone LLC now owns 50,375 shares of the bank worth $1,250,000 after purchasing an additional 17,950 shares in the last quarter. Hedge funds and other institutional investors hold 28.43% of the company’s shares.

Wall Street analysts predict growth

Separately, assumed coverage of Middlefield Banc shares in a report on Saturday, September 10. They issued a “buy” rating for the company.

Middlefield Banc is trading down 0.5%

NASDAQ: MBCN opened at $27.14 on Friday. The company has a 50-day simple moving average of $26.62 and a 200-day simple moving average of $25.69. The company has a debt ratio of 0.10, a quick ratio of 0.92 and a current ratio of 0.92. Middlefield Banc has a one-year low of $22.82 and a one-year high of $30.62. The company has a market capitalization of $157.41 million, a P/E ratio of 9.02 and a beta of 0.60.

Middlefield Banc (NASDAQ:MBCN – Get Rating) last released quarterly earnings data on Monday, July 18. The bank reported earnings per share (EPS) of $0.70 for the quarter, beating analysts’ consensus estimate of $0.67 by $0.03. Middlefield Banc posted a net margin of 31.25% and a return on equity of 12.89%. The company posted revenue of $13.41 million for the quarter, versus a consensus estimate of $13.20 million.

Middlefield Banc announces dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15. Shareholders of record on Friday, September 2 received a dividend of $0.17. This represents a dividend of $0.68 on an annualized basis and a dividend yield of 2.51%. The ex-dividend date was Thursday, September 1. Middlefield Banc’s payout ratio is currently 22.59%.

About Middlefield Bench

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Middlefield Banc Corp. operates as a bank holding company for The Middlefield Banking Company which provides various commercial banking services to small and medium-sized businesses, professionals, small business owners and retail customers in Northeast and Central Ohio . It offers checking accounts, savings accounts, negotiable withdrawal orders, money market accounts, term deposit certificates, business loans, home loans, various consumer loans, safe deposit boxes and travellers cheques.

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