Zacks Research Downgrades MainStreet Bank (NASDAQ:MNSB) to Hold

MainStreet Bank (NASDAQ:MNSB) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

MainStreet Bank Stock Performance

NASDAQ MNSB opened at $20.83 on Monday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.38. The firm’s fifty day moving average price is $21.38 and its two-hundred day moving average price is $19.40. MainStreet Bank has a 1 year low of $15.00 and a 1 year high of $22.98. The firm has a market capitalization of $160.60 million, a P/E ratio of -14.27 and a beta of 0.61.

MainStreet Bank (NASDAQ:MNSB) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.09. MainStreet Bank had a negative net margin of 6.34% and a positive return on equity of 3.72%. The firm had revenue of $19.86 million for the quarter, compared to analyst estimates of $18.90 million. As a group, research analysts anticipate that MainStreet Bank will post 1.1 EPS for the current year.

Hedge Funds Weigh In On MainStreet Bank

Institutional investors and hedge funds have recently modified their holdings of the business. Cresset Asset Management LLC grew its stake in shares of MainStreet Bank by 5.1% in the first quarter. Cresset Asset Management LLC now owns 336,207 shares of the company’s stock valued at $5,621,000 after acquiring an additional 16,337 shares in the last quarter. Jane Street Group LLC raised its holdings in MainStreet Bank by 16.0% in the 4th quarter. Jane Street Group LLC now owns 15,957 shares of the company’s stock valued at $289,000 after buying an additional 2,196 shares during the last quarter. Hughes Financial Services LLC bought a new position in MainStreet Bank in the 1st quarter valued at approximately $91,000. HighTower Advisors LLC bought a new position in MainStreet Bank in the 1st quarter valued at approximately $178,000. Finally, Fourthstone LLC raised its holdings in MainStreet Bank by 918.4% during the 2nd quarter. Fourthstone LLC now owns 338,085 shares of the company’s stock worth $6,390,000 after purchasing an additional 304,886 shares during the last quarter. 52.29% of the stock is currently owned by institutional investors and hedge funds.

About MainStreet Bank

MainStreet Bancshares, Inc operates as the bank holding company for MainStreet Bank that provides various banking products and services for individuals, small to medium-sized businesses, and professional service organizations. The company offers demand, NOW, money market, savings, and sweep accounts, as well as certificates of deposit; business and consumer checking, interest-bearing checking, business account analysis, and other depository services; and cash management, wire transfer, check imaging, bill pay, remote deposit capture, and courier services.