MainStreet Bank (NASDAQ:MNSB) Trading 2.9% Higher – Here’s Why

MainStreet Bank (NASDAQ:MNSB)’s share price was up 2.9% during mid-day trading on Thursday . The stock traded as high as $25.04 and last traded at $24.87. 32,245 shares were traded during trading, a decline of 32% from the average daily volume of 47,387 shares. The stock had previously closed at $24.18.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of MainStreet Bank from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, June 23rd. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, MainStreet Bank has a consensus rating of “Moderate Buy”.

MainStreet Bank Stock Down 3.1%

The business has a 50-day simple moving average of $23.76 and a two-hundred day simple moving average of $22.63. The company has a market capitalization of $171.59 million, a price-to-earnings ratio of 12.11 and a beta of 0.53. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.07 and a current ratio of 1.07.

MainStreet Bank (NASDAQ:MNSB) last released its earnings results on Monday, April 20th. The company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.03. MainStreet Bank had a return on equity of 9.13% and a net margin of 12.94%.The business had revenue of $1.39 million for the quarter, compared to analyst estimates of $20.30 million. As a group, equities analysts predict that MainStreet Bank will post 2.26 EPS for the current year.

MainStreet Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Monday, May 4th. MainStreet Bank’s payout ratio is currently 20.10%.

Insider Transactions at MainStreet Bank

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Fourthstone LLC raised its stake in shares of MainStreet Bank by 50.6% during the 4th quarter. Fourthstone LLC now owns 767,792 shares of the company’s stock worth $15,632,000 after buying an additional 257,859 shares in the last quarter. UBS Group AG boosted its stake in shares of MainStreet Bank by 3,454.5% in the third quarter. UBS Group AG now owns 134,821 shares of the company’s stock valued at $2,808,000 after buying an additional 131,028 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of MainStreet Bank by 128.4% in the second quarter. Geode Capital Management LLC now owns 153,516 shares of the company’s stock valued at $2,902,000 after buying an additional 86,303 shares in the last quarter. Squarepoint Ops LLC acquired a new position in MainStreet Bank during the fourth quarter worth $701,000. Finally, Marshall Wace LLP grew its holdings in MainStreet Bank by 255.6% during the fourth quarter. Marshall Wace LLP now owns 44,287 shares of the company’s stock worth $902,000 after acquiring an additional 31,833 shares during the period. 52.29% of the stock is currently owned by institutional investors and hedge funds.

MainStreet Bank Company Profile

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.