MainStreet Bank (NASDAQ:MNSB) Stock Price Down 2.1% – Here’s What Happened

MainStreet Bank (NASDAQ:MNSB)’s stock price traded down 2.1% during trading on Wednesday . The stock traded as low as $22.40 and last traded at $22.44. 23,930 shares changed hands during trading, a decline of 57% from the average session volume of 55,059 shares. The stock had previously closed at $22.91.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of MainStreet Bank from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

MainStreet Bank Price Performance

The company has a market capitalization of $157.14 million, a P/E ratio of 11.39 and a beta of 0.56. The firm’s fifty day moving average is $22.72 and its 200 day moving average is $21.28. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.07 and a current ratio of 1.07.

MainStreet Bank (NASDAQ:MNSB) last issued its quarterly earnings results on Monday, April 20th. The company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.45 by $0.03. The company had revenue of $1.39 million for the quarter, compared to the consensus estimate of $20.30 million. MainStreet Bank had a net margin of 12.94% and a return on equity of 9.13%. As a group, analysts predict that MainStreet Bank will post 2.18 earnings per share for the current fiscal year.

MainStreet Bank Announces Dividend

The business also recently announced 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 yield of 1.8%. The ex-dividend date was Monday, May 4th. MainStreet Bank’s dividend payout ratio is currently 20.10%.

Hedge Funds Weigh In On MainStreet Bank

A number of hedge funds have recently added to or reduced their stakes in the stock. State Street Corp grew its stake in MainStreet Bank by 0.8% in the 4th quarter. State Street Corp now owns 73,562 shares of the company’s stock worth $1,498,000 after acquiring an additional 582 shares in the last quarter. BNP Paribas Financial Markets grew its stake 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 acquiring an additional 650 shares in the last quarter. Creative Planning grew its stake in MainStreet Bank by 5.6% in the 3rd quarter. Creative Planning now owns 22,169 shares of the company’s stock worth $462,000 after acquiring an additional 1,169 shares in the last quarter. Cresset Asset Management LLC grew its stake in MainStreet Bank by 0.4% in the 3rd quarter. Cresset Asset Management LLC now owns 335,723 shares of the company’s stock worth $6,993,000 after acquiring an additional 1,254 shares in the last quarter. Finally, Empowered Funds LLC grew its stake in MainStreet Bank by 3.8% in the 1st quarter. Empowered Funds LLC now owns 34,329 shares of the company’s stock worth $574,000 after acquiring an additional 1,265 shares in the last quarter. 52.29% of the stock is currently owned by institutional investors.

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.