MainStreet Bank (NASDAQ:MNSB) Announces Quarterly Earnings Results

MainStreet Bank (NASDAQ:MNSB) announced its quarterly earnings results on Monday. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.03), FiscalAI reports. The firm had revenue of $2.24 million during the quarter. MainStreet Bank had a negative net margin of 3.32% and a positive return on equity of 6.05%.

MainStreet Bank Stock Performance

NASDAQ:MNSB opened at $20.51 on Monday. MainStreet Bank has a twelve month low of $15.00 and a twelve month high of $22.98. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.37. The company has a 50-day moving average of $20.18 and a 200-day moving average of $20.31. The firm has a market cap of $158.13 million, a price-to-earnings ratio of -22.79 and a beta of 0.62.

MainStreet Bank Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 18th. Shareholders of record on Tuesday, November 11th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Monday, November 10th. MainStreet Bank’s dividend payout ratio is presently -44.44%.

Analyst Ratings Changes

MNSB has been the subject of several recent analyst reports. Wall Street Zen cut MainStreet Bank from a “buy” rating to a “hold” rating in a research note on Sunday, November 2nd. Weiss Ratings reiterated a “sell (d+)” rating on shares of MainStreet Bank in a research report on Monday, December 29th. Finally, Zacks Research raised shares of MainStreet Bank from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce”.

Insider Activity at MainStreet Bank

In related news, CFO Thomas J. Chmelik sold 7,238 shares of the stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $20.09, for a total transaction of $145,411.42. Following the completion of the sale, the chief financial officer directly owned 63,761 shares of the company’s stock, valued at $1,280,958.49. This represents a 10.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have purchased 848 shares of company stock valued at $16,123. 9.28% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Alliancebernstein L.P. lifted its holdings in shares of MainStreet Bank by 2.7% during the 3rd quarter. Alliancebernstein L.P. now owns 674,163 shares of the company’s stock valued at $14,043,000 after buying an additional 17,515 shares during the last quarter. Geode Capital Management LLC increased its holdings in MainStreet Bank by 128.4% in the second 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 during the last quarter. UBS Group AG raised its position in MainStreet Bank by 3,454.5% during the third quarter. UBS Group AG now owns 134,821 shares of the company’s stock valued at $2,808,000 after acquiring an additional 131,028 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in MainStreet Bank by 1.6% in the third quarter. Dimensional Fund Advisors LP now owns 119,127 shares of the company’s stock valued at $2,481,000 after acquiring an additional 1,904 shares during the last quarter. Finally, Mendon Capital Advisors Corp lifted its stake in MainStreet Bank by 18.8% in the third quarter. Mendon Capital Advisors Corp now owns 38,526 shares of the company’s stock valued at $752,000 after acquiring an additional 6,098 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.