MainStreet Bank (NASDAQ:MNSB) Stock Price Down 1.2% – Here’s Why

MainStreet Bank (NASDAQ:MNSB)’s share price traded down 1.2% during trading on Wednesday . The company traded as low as $22.12 and last traded at $22.23. 23,220 shares were traded during mid-day trading, a decline of 64% from the average session volume of 65,321 shares. The stock had previously closed at $22.51.

Analyst Ratings Changes

Several research firms have recently issued reports on MNSB. Weiss Ratings restated a “sell (d+)” rating on shares of MainStreet Bank in a report on Monday, December 29th. Wall Street Zen downgraded shares of MainStreet Bank from a “buy” rating to a “hold” rating in a research report on Sunday, November 2nd. Finally, Zacks Research raised shares of MainStreet Bank from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Reduce”.

MainStreet Bank Stock Performance

The stock has a market capitalization of $171.39 million, a price-to-earnings ratio of 12.63 and a beta of 0.62. The firm has a fifty day moving average of $21.15 and a 200 day moving average of $20.52. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.07.

MainStreet Bank (NASDAQ:MNSB) last issued its quarterly earnings data on Monday, January 26th. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.03). MainStreet Bank had a return on equity of 8.37% and a net margin of 11.51%.The firm had revenue of $2.24 million for the quarter, compared to analyst estimates of $19.60 million. On average, sell-side analysts anticipate that MainStreet Bank will post 1.1 earnings per share for the current fiscal year.

MainStreet Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 16th. Shareholders of record on Monday, February 9th were issued a $0.10 dividend. The ex-dividend date of this dividend was Monday, February 9th. This represents a $0.40 dividend on an annualized basis and a yield of 1.8%. MainStreet Bank’s payout ratio is presently 22.73%.

Insider Activity

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 stock was sold at an average price of $20.09, for a total transaction of $145,411.42. Following the transaction, the chief financial officer owned 63,761 shares in the company, valued at approximately $1,280,958.49. This represents a 10.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders have bought 848 shares of company stock worth $16,123. Corporate insiders own 9.28% of the company’s stock.

Institutional Investors Weigh In On MainStreet Bank

Large investors have recently modified their holdings of the business. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of MainStreet Bank during the 2nd quarter worth approximately $33,000. BNP Paribas Financial Markets grew its holdings in shares of 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. Kestra Advisory Services LLC purchased a new stake in shares of MainStreet Bank in the fourth quarter valued at about $41,000. JPMorgan Chase & Co. raised its position in shares of 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 buying an additional 3,324 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in MainStreet Bank during the second quarter worth $73,000. Hedge funds and other institutional investors own 52.29% of the company’s stock.

About MainStreet Bank

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.