MainStreet Bank (NASDAQ:MNSB) Posts Quarterly Earnings Results, Beats Estimates By $0.05 EPS

MainStreet Bank (NASDAQ:MNSB) issued its quarterly earnings results on Monday. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.05, Zacks reports. MainStreet Bank had a net margin of 12.94% and a return on equity of 9.13%.

MainStreet Bank Trading Up 1.6%

Shares of NASDAQ MNSB opened at $24.49 on Monday. MainStreet Bank has a 1-year low of $17.86 and a 1-year high of $25.28. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.07. The business’s 50 day moving average is $23.76 and its two-hundred day moving average is $22.65. The stock has a market capitalization of $174.37 million, a P/E ratio of 12.31 and a beta of 0.53.

MainStreet Bank Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Monday, May 4th. MainStreet Bank’s dividend payout ratio (DPR) is presently 20.10%.

Insider Transactions at MainStreet Bank

In other MainStreet Bank news, CFO Richard Alexander Vari sold 4,500 shares of MainStreet Bank 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 transaction, the chief financial officer directly owned 34,036 shares of the company’s stock, valued at $789,635.20. The trade was a 11.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 10.17% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MainStreet Bank

Several hedge funds and other institutional investors have recently made changes to their positions in MNSB. BNP Paribas Financial Markets raised its position in MainStreet Bank by 58.5% in 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 period. Kestra Advisory Services LLC bought a new stake in shares of MainStreet Bank during the 4th quarter worth approximately $41,000. JPMorgan Chase & Co. boosted its holdings in MainStreet Bank by 66,480.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,329 shares of the company’s stock valued at $63,000 after acquiring an additional 3,324 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in MainStreet Bank in the 2nd quarter valued at $73,000. Finally, Russell Investments Group Ltd. bought a new position in MainStreet Bank in the 3rd quarter valued at $76,000. Hedge funds and other institutional investors own 52.29% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded MainStreet Bank from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, June 23rd. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, MainStreet Bank 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.