Insider Selling: MainStreet Bank (NASDAQ:MNSB) CFO Sells 4,500 Shares of Stock

MainStreet Bank (NASDAQ:MNSB) CFO Richard Alexander Vari sold 4,500 shares of the business’s stock in a transaction on Thursday, June 4th. The shares were 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 directly owned 34,036 shares in the company, valued at $789,635.20. This represents a 11.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

MainStreet Bank Stock Up 3.1%

MNSB traded up $0.70 during trading on Thursday, hitting $23.37. The company had a trading volume of 30,299 shares, compared to its average volume of 52,201. The company has a market capitalization of $166.37 million, a PE ratio of 11.75 and a beta of 0.55. MainStreet Bank has a one year low of $17.86 and a one year high of $25.17. The firm’s 50-day moving average price is $23.04 and its 200 day moving average price is $21.71. 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 posted its quarterly earnings data on Monday, April 20th. The company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.45 by $0.03. MainStreet Bank had a net margin of 12.94% and a return on equity of 9.13%. The business had revenue of $1.39 million for the quarter, compared to analysts’ expectations of $20.30 million. As a group, equities analysts expect that MainStreet Bank will post 2.19 earnings per share for the current year.

MainStreet Bank Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.7%. The ex-dividend date was Monday, May 4th. MainStreet Bank’s payout ratio is presently 20.10%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. State Street Corp increased its stake 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 purchasing an additional 582 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of 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. Creative Planning increased its stake in shares of MainStreet Bank by 5.6% during the 3rd 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 grew its stake in MainStreet Bank by 0.4% in the 3rd 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 during the last quarter. Finally, Empowered Funds LLC grew its stake in MainStreet Bank by 3.8% in the 1st quarter. Empowered Funds LLC now owns 34,329 shares of the company’s stock valued at $574,000 after buying an additional 1,265 shares during the last quarter. 52.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of MainStreet Bank from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, May 20th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

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.