MainStreet Bank (NASDAQ:MNSB) Plans $0.10 Quarterly Dividend

MainStreet Bank (NASDAQ:MNSB) declared a quarterly dividend on Tuesday, July 21st. Investors of record on Tuesday, August 4th will be paid a dividend of 0.10 per share on Tuesday, August 11th. This represents a c) dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Tuesday, August 4th.

MainStreet Bank has a payout ratio of 18.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect MainStreet Bank to earn $2.42 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 16.5%.

MainStreet Bank Stock Performance

Shares of MainStreet Bank stock traded down $0.12 during trading on Wednesday, hitting $23.27. 38,409 shares of the stock were exchanged, compared to its average volume of 51,181. The stock’s fifty day moving average is $23.80 and its 200 day moving average is $22.70. The stock has a market cap of $165.61 million, a PE ratio of 11.41 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 has a 12 month low of $17.86 and a 12 month high of $25.28.

MainStreet Bank (NASDAQ:MNSB) last issued its quarterly earnings data on Monday, July 20th. The company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.05. MainStreet Bank had a net margin of 13.24% and a return on equity of 9.12%. The business had revenue of $19.13 million for the quarter, compared to analysts’ expectations of $21.10 million. As a group, sell-side analysts anticipate that MainStreet Bank will post 2.26 EPS for the current year.

Insider Activity

In related 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 value of $104,400.00. Following the completion of the sale, the chief financial officer owned 34,036 shares of the company’s stock, valued at approximately $789,635.20. The trade was a 11.68% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 10.17% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets increased its position in MainStreet Bank by 58.5% during the third quarter. BNP Paribas Financial Markets now owns 1,761 shares of the company’s stock worth $37,000 after acquiring an additional 650 shares during the period. Kestra Advisory Services LLC acquired a new stake in MainStreet Bank in the 4th quarter worth $41,000. Cassaday & Co Wealth Management LLC bought a new position in shares of MainStreet Bank during the 1st quarter worth about $61,000. JPMorgan Chase & Co. increased its holdings in shares of MainStreet Bank by 66,480.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,329 shares of the company’s stock worth $63,000 after purchasing an additional 3,324 shares during the period. Finally, Russell Investments Group Ltd. acquired a new position in shares of MainStreet Bank during the third quarter valued at about $76,000. Institutional investors and hedge funds 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.