MainStreet Bank (NASDAQ:MNSB) Announces Quarterly Dividend of $0.10

MainStreet Bank (NASDAQ:MNSB) announced a quarterly dividend on Tuesday, January 27th. Shareholders of record on Monday, February 9th will be given a dividend of 0.10 per share on Monday, February 16th. This represents a c) annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Monday, February 9th.

MainStreet Bank has a payout ratio of 18.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect MainStreet Bank to earn $1.48 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 27.0%.

MainStreet Bank Stock Up 0.7%

Shares of MainStreet Bank stock traded up $0.14 during trading on Wednesday, hitting $20.75. The company’s stock had a trading volume of 62,150 shares, compared to its average volume of 43,336. The company has a fifty day simple moving average of $20.27 and a two-hundred day simple moving average of $20.31. The company has a market capitalization of $159.90 million, a PE ratio of 11.79 and a beta of 0.62. MainStreet Bank has a 52 week low of $15.00 and a 52 week high of $22.98. 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 issued its quarterly earnings results on Monday, January 26th. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.03). MainStreet Bank had a net margin of 11.51% and a return on equity of 8.37%. The company had revenue of $2.24 million for the quarter, compared to the consensus estimate of $19.60 million. Equities research analysts predict that MainStreet Bank will post 1.1 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Thomas J. Chmelik sold 7,238 shares of the business’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $20.09, for a total value of $145,411.42. Following the completion of the transaction, the chief financial officer owned 63,761 shares of the company’s stock, valued at $1,280,958.49. The trade was a 10.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders bought 848 shares of company stock worth $16,123. 9.28% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MainStreet Bank

Hedge funds and other institutional investors have recently modified their holdings of the company. Alliancebernstein L.P. raised its holdings in MainStreet Bank by 2.7% during the third quarter. Alliancebernstein L.P. now owns 674,163 shares of the company’s stock worth $14,043,000 after purchasing an additional 17,515 shares during the last quarter. Fourthstone LLC raised its holdings in MainStreet Bank by 918.4% in the second quarter. Fourthstone LLC now owns 338,085 shares of the company’s stock valued at $6,390,000 after buying an additional 304,886 shares during the period. Cresset Asset Management LLC grew its stake in shares of MainStreet Bank by 0.4% in the third quarter. Cresset Asset Management LLC now owns 335,723 shares of the company’s stock valued at $6,993,000 after buying an additional 1,254 shares in the last quarter. Geode Capital Management LLC lifted its holdings in MainStreet Bank by 128.4% in the 2nd quarter. Geode Capital Management LLC now owns 153,516 shares of the company’s stock worth $2,902,000 after buying an additional 86,303 shares in the last quarter. Finally, UBS Group AG increased its holdings in MainStreet Bank by 3,454.5% during the 3rd quarter. UBS Group AG now owns 134,821 shares of the company’s stock worth $2,808,000 after purchasing an additional 131,028 shares during the last quarter. 52.29% of the stock is currently owned by institutional investors and hedge funds.

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.