MainStreet Bank (NASDAQ:MNSB) Shares Down 1.8% – What’s Next?

MainStreet Bank (NASDAQ:MNSB) dropped 1.8% during mid-day trading on Thursday . The company traded as low as $24.06 and last traded at $24.29. 30,771 shares changed hands during mid-day trading, a decline of 36% from the average daily volume of 47,741 shares. The stock had previously closed at $24.74.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of MainStreet Bank from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

MainStreet Bank Trading Down 1.8%

The firm has a market cap of $172.94 million, a price-to-earnings ratio of 12.21 and a beta of 0.55. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.07. The business has a 50-day moving average of $23.53 and a 200-day moving average of $22.27.

MainStreet Bank (NASDAQ:MNSB) last issued its quarterly earnings results on Monday, April 20th. The company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.45 by $0.03. The firm had revenue of $1.39 million during the quarter, compared to analysts’ expectations of $20.30 million. MainStreet Bank had a return on equity of 9.13% and a net margin of 12.94%. Research analysts anticipate that MainStreet Bank will post 2.26 EPS for the current year.

MainStreet Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Monday, May 4th were paid a dividend of $0.10 per share. The ex-dividend date was Monday, May 4th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.6%. MainStreet Bank’s dividend payout ratio is currently 20.10%.

Insider Activity at MainStreet Bank

In related news, CFO Richard Alexander Vari sold 4,500 shares of the firm’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $23.20, for a total value of $104,400.00. Following the completion of the transaction, the chief financial officer directly owned 34,036 shares of the company’s stock, valued at approximately $789,635.20. This trade represents a 11.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 10.17% of the company’s stock.

Hedge Funds Weigh In On MainStreet Bank

A number of institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its stake in MainStreet Bank by 58.5% in the third quarter. BNP Paribas Financial Markets now owns 1,761 shares of the company’s stock valued at $37,000 after acquiring an additional 650 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in shares of MainStreet Bank during the 4th quarter worth about $41,000. Cassaday & Co Wealth Management LLC acquired a new position in shares of MainStreet Bank during the 1st quarter worth about $61,000. JPMorgan Chase & Co. raised its holdings in shares of MainStreet Bank by 66,480.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,329 shares of the company’s stock valued at $63,000 after purchasing an additional 3,324 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of MainStreet Bank in the 2nd quarter valued at about $73,000. 52.29% of the stock is currently owned by institutional investors and hedge funds.

About MainStreet Bank

MainStreet Bank Group, Inc (NASDAQ: MNSB) is the bank holding company for MainStreet Bank, a community bank headquartered in Westborough, Massachusetts. Through its subsidiary, the company provides a full range of commercial and consumer banking services designed to meet the financial needs of individuals, small businesses, and non-profit organizations. Its core focus is on building long‐term relationships within the communities it serves.

MainStreet Bank’s product suite includes deposit accounts such as checking, savings, money market and certificate of deposit offerings, as well as a variety of lending solutions.