Key Points
- MainStreet Bank CFO Richard Alexander Vari sold 4,500 shares on June 4 at an average price of $23.20, totaling $104,400. After the sale, he still held 34,036 shares, reducing his ownership by 11.68%.
- The bank recently posted mixed quarterly results: it earned $0.48 per share, topping estimates of $0.45, but revenue came in far below expectations at $1.39 million versus $20.30 million forecast.
- MainStreet Bank also pays a dividend and has seen positive analyst sentiment, including a quarterly $0.10 dividend and a recent Weiss Ratings upgrade from hold to buy. The stock was trading near $23.31 and has a market cap of about $165.9 million.
MainStreet Bank (NASDAQ:MNSB - Get Free Report) CFO Richard Alexander Vari sold 4,500 shares of the firm's stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $23.20, for a total value of $104,400.00. Following the transaction, the chief financial officer owned 34,036 shares of the company's stock, valued at approximately $789,635.20. This represents a 11.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
MainStreet Bank Price Performance
MNSB stock opened at $23.31 on Friday. 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 market capitalization of $165.90 million, a PE ratio of 11.71 and a beta of 0.55. MainStreet Bank has a 12-month low of $17.86 and a 12-month high of $25.17. The business's fifty day moving average price is $23.07 and its 200 day moving average price is $21.74.
MainStreet Bank (NASDAQ:MNSB - Get Free Report) last announced its earnings results on Monday, April 20th. The company reported $0.48 EPS for the quarter, beating analysts' consensus estimates of $0.45 by $0.03. The company had revenue of $1.39 million during the quarter, compared to analysts' expectations of $20.30 million. MainStreet Bank had a return on equity of 9.13% and a net margin of 12.94%. On average, sell-side analysts anticipate that MainStreet Bank will post 2.19 EPS for the current year.
MainStreet Bank Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Monday, May 4th were paid a $0.10 dividend. The ex-dividend date of this dividend was Monday, May 4th. This represents a $0.40 annualized dividend and a dividend yield of 1.7%. MainStreet Bank's dividend payout ratio (DPR) is presently 20.10%.
Hedge Funds Weigh In On MainStreet Bank
Several hedge funds have recently added to or reduced their stakes in MNSB. Empowered Funds LLC raised its holdings in MainStreet Bank by 3.8% during the first quarter. Empowered Funds LLC now owns 34,329 shares of the company's stock worth $574,000 after purchasing an additional 1,265 shares in the last quarter. Jane Street Group LLC boosted its holdings in shares of MainStreet Bank by 33.3% in the 1st quarter. Jane Street Group LLC now owns 21,270 shares of the company's stock valued at $356,000 after buying an additional 5,313 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of MainStreet Bank by 128.4% in the 2nd quarter. Geode Capital Management LLC now owns 153,516 shares of the company's stock valued at $2,902,000 after buying an additional 86,303 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of MainStreet Bank by 66,480.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,329 shares of the company's stock valued at $63,000 after buying an additional 3,324 shares during the last quarter. Finally, New York State Common Retirement Fund acquired a new stake in MainStreet Bank during the 2nd quarter worth $102,000. 52.29% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Separately, Weiss Ratings raised shares of MainStreet Bank from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, May 20th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy".
Check Out Our Latest Report on MainStreet Bank
About MainStreet Bank
(
Get Free Report)
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.
Further Reading
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