MainStreet Bank (NASDAQ:MNSB) Stock Price Down 1.8% – Here’s Why

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

Analyst Ratings Changes

Separately, Weiss Ratings raised MainStreet Bank from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy”.

MainStreet Bank Stock Performance

The stock has a market capitalization of $172.94 million, a price-to-earnings ratio of 12.21 and a beta of 0.55. The company’s fifty day simple moving average is $23.53 and its 200 day simple moving average is $22.27. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.37.

MainStreet Bank (NASDAQ:MNSB) last issued its quarterly earnings data on Monday, April 20th. The company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.03. The company had revenue of $1.39 million for the quarter, compared to analyst estimates of $20.30 million. MainStreet Bank had a net margin of 12.94% and a return on equity of 9.13%. On average, equities research analysts expect that MainStreet Bank will post 2.26 earnings per share for the current year.

MainStreet Bank Dividend Announcement

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

Insider Transactions at MainStreet Bank

In other news, CFO Richard Alexander Vari sold 4,500 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $23.20, for a total transaction of $104,400.00. Following the completion of the sale, the chief financial officer owned 34,036 shares in the company, valued at $789,635.20. The trade was a 11.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 10.17% of the stock is owned by company insiders.

Hedge Funds Weigh In On MainStreet Bank

A number of large investors have recently made changes to their positions in MNSB. BNP Paribas Financial Markets lifted its holdings in MainStreet Bank by 58.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,761 shares of the company’s stock worth $37,000 after purchasing an additional 650 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in MainStreet Bank in the 4th quarter valued at $41,000. Cassaday & Co Wealth Management LLC acquired a new position in MainStreet Bank in the 1st quarter valued at $61,000. JPMorgan Chase & Co. grew its holdings in 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 buying an additional 3,324 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in MainStreet Bank during the 2nd quarter worth $73,000. Institutional investors own 52.29% of the company’s stock.

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.