Renaissance Technologies LLC Sells 34,600 Shares of MainStreet Bank $MNSB

Renaissance Technologies LLC cut its stake in shares of MainStreet Bank (NASDAQ:MNSB) by 70.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,400 shares of the company’s stock after selling 34,600 shares during the period. Renaissance Technologies LLC owned 0.20% of MainStreet Bank worth $320,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in MNSB. State Street Corp lifted its holdings in shares of MainStreet Bank by 0.8% during the fourth quarter. State Street Corp now owns 73,562 shares of the company’s stock worth $1,498,000 after buying an additional 582 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of MainStreet Bank by 58.5% in the third quarter. BNP Paribas Financial Markets now owns 1,761 shares of the company’s stock valued at $37,000 after acquiring an additional 650 shares in the last quarter. Creative Planning grew its stake in shares of MainStreet Bank by 5.6% in the third quarter. Creative Planning now owns 22,169 shares of the company’s stock valued at $462,000 after acquiring an additional 1,169 shares in the last quarter. Empowered Funds LLC increased its position in MainStreet Bank by 3.8% during the first quarter. Empowered Funds LLC now owns 34,329 shares of the company’s stock worth $574,000 after acquiring an additional 1,265 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in MainStreet Bank by 1.6% during the third quarter. Dimensional Fund Advisors LP now owns 119,127 shares of the company’s stock worth $2,481,000 after acquiring an additional 1,904 shares during the period. Institutional investors own 52.29% of the company’s stock.

Insiders Place Their Bets

In other MainStreet Bank news, CFO Richard Alexander Vari sold 4,500 shares of the stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $23.20, for a total transaction of $104,400.00. Following 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. 10.17% of the stock is owned by corporate insiders.

MainStreet Bank Price Performance

MainStreet Bank stock opened at $25.35 on Wednesday. The stock’s fifty day moving average price is $24.16 and its two-hundred day moving average price is $23.21. MainStreet Bank has a one year low of $17.86 and a one year high of $25.71. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a market cap of $180.49 million, a PE ratio of 12.43 and a beta of 0.53.

MainStreet Bank (NASDAQ:MNSB) last announced its quarterly earnings data on Monday, July 20th. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.05. The firm had revenue of $19.13 million during the quarter, compared to analysts’ expectations of $21.10 million. MainStreet Bank had a return on equity of 9.16% and a net margin of 13.24%. As a group, research analysts expect that MainStreet Bank will post 2.26 EPS for the current fiscal year.

MainStreet Bank Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 11th. Investors of record on Tuesday, August 4th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Tuesday, August 4th. MainStreet Bank’s payout ratio is 19.61%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of MainStreet Bank from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, June 23rd. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

MainStreet Bank 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.