MainStreet Bank (NASDAQ:MNSB) Stock Rating Upgraded by Zacks Research

MainStreet Bank (NASDAQ:MNSB) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of MainStreet Bank in a report on Monday. Wall Street Zen lowered shares of MainStreet Bank from a “buy” rating to a “hold” rating in a report on Sunday, November 2nd. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, MainStreet Bank currently has a consensus rating of “Reduce”.

MainStreet Bank Price Performance

Shares of NASDAQ MNSB opened at $20.40 on Monday. 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 fifty-two week low of $15.00 and a fifty-two week high of $22.98. The stock has a market cap of $157.20 million, a PE ratio of -22.67 and a beta of 0.63. The stock has a fifty day moving average of $19.62 and a 200-day moving average of $20.18.

MainStreet Bank (NASDAQ:MNSB) last issued its earnings results on Monday, October 27th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.51 by $0.01. The business had revenue of $18.22 million during the quarter, compared to the consensus estimate of $19.40 million. MainStreet Bank had a positive return on equity of 6.05% and a negative net margin of 3.32%. Equities research analysts anticipate that MainStreet Bank will post 1.1 earnings per share for the current year.

Insider Buying and Selling at MainStreet Bank

In related news, CFO Thomas J. Chmelik sold 7,238 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $20.09, for a total value of $145,411.42. Following the sale, the chief financial officer directly owned 63,761 shares of the company’s stock, valued at $1,280,958.49. This trade represents a 10.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have purchased 848 shares of company stock valued at $16,123 in the last quarter. 9.28% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MainStreet Bank

A number of institutional investors have recently made changes to their positions in MNSB. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of MainStreet Bank during the 2nd quarter worth $33,000. BNP Paribas Financial Markets raised 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 valued at $37,000 after purchasing an additional 650 shares in the last quarter. JPMorgan Chase & Co. raised its position in MainStreet Bank by 66,480.0% during the second 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in MainStreet Bank during the second quarter worth about $73,000. Finally, Russell Investments Group Ltd. purchased a new position in shares of MainStreet Bank in the 3rd quarter worth about $76,000. Institutional investors own 52.29% of the company’s stock.

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.