Middlefield Banc Corp. (NASDAQ:MBCN) Short Interest Up 61.5% in September

Middlefield Banc Corp. (NASDAQ: MBCN- Get a rating) benefited from significant growth in short-term interest rates in September. As of September 15, there were short interests totaling 14,700 shares, a growth of 61.5% from the total of 9,100 shares as of August 31. Based on an average daily volume of 8,900 shares, the day-to-cover ratio is currently 1.7 days. Currently, 0.3% of the company’s shares are sold short.

A Wall Street analyst gives his opinion

Separately, StockNews.com purported coverage of Middlefield Banc shares in a research note from Saturday, September 10. They set a “buy” rating for the company.

Middlefield Banc Stock up 0.6%

Middlefield Banc stock traded down $0.15 during Thursday trading hours, hitting $27.00. The stock recorded trading volume of 7,838 shares, compared to an average volume of 7,665 shares. The company has a market capitalization of $156.65 million, a price-earnings ratio of 8.97 and a beta of 0.60. The company has a debt ratio of 0.10, a current ratio of 0.92 and a quick ratio of 0.92. The company’s 50-day moving average price is $26.95 and its 200-day moving average price is $25.80. Middlefield Banc has a 52-week low of $23.36 and a 52-week high of $30.62.

Middlefield Bank (NASDAQ: MBCN – Get a rating) last released its results on Monday, July 18. The bank reported EPS of $0.70 for the quarter, beating consensus analyst estimates of $0.67 by $0.03. Middlefield Banc had a return on equity of 12.89% and a net margin of 31.25%. The company posted revenue of $13.41 million for the quarter, versus analyst estimates of $13.20 million.

Middlefield Banc announces dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 15. Shareholders of record on Friday, September 2 received a dividend of $0.17 per share. The ex-dividend date was Thursday, September 1. This represents a dividend of $0.68 on an annualized basis and a dividend yield of 2.52%. Middlefield Banc’s dividend payout ratio is currently 22.59%.

Institutional negotiation of Middlefield Banc

Several large investors have recently bought and sold shares of the company. Redmont Wealth Advisors LLC increased its stake in Middlefield Banc by 17.0% in the 1st quarter. Redmont Wealth Advisors LLC now owns 18,165 shares of the bank worth $451,000 after buying 2,640 additional shares last quarter. Sonen Capital LLC purchased a new equity stake in Middlefield Banc in Q1 worth approximately $248,000. Dimensional Fund Advisors LP increased its holdings of Middlefield Banc shares by 3.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 95,947 shares of the bank valued at $2,381,000 after buying 2,894 additional shares in the last quarter. Fourthstone LLC increased its equity stake in Middlefield Banc by 55.4% in Q1. Fourthstone LLC now owns 50,375 shares of the bank valued at $1,250,000 after buying an additional 17,950 shares in the last quarter. Finally, BlackRock Inc. increased its stake in shares of Middlefield Banc by 8.4% in the 1st quarter. BlackRock Inc. now owns 25,646 shares of the bank valued at $636,000 after buying 1,996 additional shares in the last quarter. Hedge funds and other institutional investors hold 28.43% of the company’s shares.

Middlefield Bank Company Profile

(Get a rating)

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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