MainStreet Bank (NASDAQ:MNSB) Stock Price Down 0.4% – What’s Next?

MainStreet Bank (NASDAQ:MNSB)’s share price dropped 0.4% during trading on Thursday . The company traded as low as $20.91 and last traded at $21.49. Approximately 23,043 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 65,533 shares. The stock had previously closed at $21.57.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Zacks Research raised MainStreet Bank from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Weiss Ratings reissued a “sell (d+)” rating on shares of MainStreet Bank in a report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce”.

MainStreet Bank Trading Down 0.4%

The company has a 50 day simple moving average of $21.54 and a 200 day simple moving average of $20.65. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market capitalization of $165.07 million, a PE ratio of 12.16 and a beta of 0.60.

MainStreet Bank (NASDAQ:MNSB) last announced its earnings results on Monday, January 26th. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.03). The firm had revenue of $2.24 million for the quarter, compared to analyst estimates of $19.60 million. MainStreet Bank had a net margin of 11.51% and a return on equity of 8.37%. Analysts anticipate that MainStreet Bank will post 1.1 earnings per share for the current year.

MainStreet Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 16th. Shareholders of record on Monday, February 9th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Monday, February 9th. MainStreet Bank’s payout ratio is 22.73%.

Institutional Investors Weigh In On MainStreet Bank

A number of hedge funds have recently modified their holdings of the business. State Street Corp raised its holdings in shares of MainStreet Bank by 0.8% during the 4th quarter. State Street Corp now owns 73,562 shares of the company’s stock worth $1,498,000 after acquiring an additional 582 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of 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 purchasing an additional 650 shares during the period. Creative Planning increased its position in MainStreet Bank by 5.6% during the third quarter. Creative Planning now owns 22,169 shares of the company’s stock worth $462,000 after purchasing an additional 1,169 shares during the last quarter. Cresset Asset Management LLC raised its stake in MainStreet Bank by 0.4% during the third quarter. Cresset Asset Management LLC now owns 335,723 shares of the company’s stock worth $6,993,000 after purchasing an additional 1,254 shares during the period. Finally, Empowered Funds LLC raised its stake in MainStreet Bank by 3.8% during the first quarter. Empowered Funds LLC now owns 34,329 shares of the company’s stock worth $574,000 after purchasing an additional 1,265 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.