MainStreet Bank (NASDAQ:MNSB) Upgraded by Zacks Research to Hold Rating

Zacks Research upgraded shares of MainStreet Bank (NASDAQ:MNSB) from a strong sell rating to a hold rating in a report issued on Monday morning,Zacks.com reports.

Several other research analysts have also weighed in on MNSB. Wall Street Zen lowered shares of MainStreet Bank from a “buy” rating to a “hold” rating in a research note on Sunday, November 2nd. Weiss Ratings restated a “sell (d+)” rating on shares of MainStreet Bank in a report on Monday. 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, MainStreet Bank has an average rating of “Reduce”.

MainStreet Bank Price Performance

MNSB stock opened at $20.40 on Monday. The business has a fifty day moving average of $19.62 and a two-hundred day moving average of $20.18. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.37. The stock has a market cap of $157.20 million, a price-to-earnings ratio of -22.67 and a beta of 0.63. MainStreet Bank has a 52-week low of $15.00 and a 52-week high of $22.98.

MainStreet Bank (NASDAQ:MNSB) last announced its quarterly earnings results on Monday, October 27th. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.51 by $0.01. The business had revenue of $18.22 million for the quarter, compared to analyst estimates of $19.40 million. MainStreet Bank had a positive return on equity of 6.05% and a negative net margin of 3.32%. As a group, research analysts anticipate that MainStreet Bank will post 1.1 earnings per share for the current year.

MainStreet Bank Announces Dividend

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

Insider Transactions at MainStreet Bank

In other MainStreet Bank 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 sale, the chief financial officer directly owned 63,761 shares in the company, valued at $1,280,958.49. This represents a 10.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders have purchased 848 shares of company stock worth $16,123. 9.28% of the stock is owned by corporate insiders.

Institutional Trading of MainStreet Bank

A number of large investors have recently modified their holdings of MNSB. BNP Paribas Financial Markets boosted its holdings in 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 purchasing an additional 650 shares during the period. Creative Planning raised its position in MainStreet Bank by 5.6% in the 3rd quarter. Creative Planning now owns 22,169 shares of the company’s stock valued at $462,000 after purchasing an additional 1,169 shares in the last quarter. Cresset Asset Management LLC raised its position 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 purchasing an additional 1,254 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of 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 period. Finally, Police & Firemen s Retirement System of New Jersey purchased a new position in shares of MainStreet Bank in the 2nd quarter valued at about $33,000. Hedge funds and other institutional investors own 52.29% of the company’s stock.

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.