MainStreet Bank (NASDAQ:MNSB) Director Buys 619 Shares

MainStreet Bank (NASDAQ:MNSB) Director Charles Brockett purchased 619 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The stock was bought at an average price of $19.03 per share, with a total value of $11,779.57. Following the transaction, the director directly owned 26,855 shares in the company, valued at $511,050.65. This trade represents a 2.36% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

MainStreet Bank Trading Up 0.8%

NASDAQ MNSB traded up $0.16 on Monday, hitting $19.09. 8,673 shares of the company were exchanged, compared to its average volume of 25,852. 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 has a twelve month low of $15.00 and a twelve month high of $22.98. The firm has a market capitalization of $147.15 million, a P/E ratio of -21.21 and a beta of 0.65. The company’s 50 day moving average price is $19.42 and its 200-day moving average price is $19.89.

MainStreet Bank (NASDAQ:MNSB) last announced its earnings results on Monday, October 27th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.51 by $0.01. MainStreet Bank had a negative net margin of 3.32% and a positive return on equity of 6.05%. The company had revenue of $18.22 million during the quarter, compared to analysts’ expectations of $19.40 million. Analysts predict that MainStreet Bank will post 1.1 earnings per share for the current fiscal year.

MainStreet Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 18th. Shareholders of record on Tuesday, November 11th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.1%. The ex-dividend date was Monday, November 10th. MainStreet Bank’s payout ratio is presently -44.44%.

Wall Street Analyst Weigh In

MNSB has been the subject of several recent analyst reports. Zacks Research cut MainStreet Bank from a “hold” rating to a “strong sell” rating in a research report on Friday, October 31st. Weiss Ratings restated a “sell (d)” rating on shares of MainStreet Bank in a research report on Friday, October 31st. Finally, Wall Street Zen downgraded MainStreet Bank from a “buy” rating to a “hold” rating in a report on Sunday, November 2nd. Two analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Institutional Investors Weigh In On MainStreet Bank

A number of hedge funds and other institutional investors have recently made changes to their positions in MNSB. HighTower Advisors LLC bought a new stake in shares of MainStreet Bank in the 1st quarter valued at approximately $178,000. Cresset Asset Management LLC lifted its stake in MainStreet Bank by 5.1% in the first quarter. Cresset Asset Management LLC now owns 336,207 shares of the company’s stock valued at $5,621,000 after acquiring an additional 16,337 shares during the last quarter. Empowered Funds LLC grew its position in MainStreet Bank by 3.8% in the first 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. Jane Street Group LLC increased its stake in shares of MainStreet Bank by 33.3% during the 1st quarter. Jane Street Group LLC now owns 21,270 shares of the company’s stock worth $356,000 after purchasing an additional 5,313 shares during the last quarter. Finally, Atlantic Union Bankshares Corp acquired a new position in shares of MainStreet Bank during the 2nd quarter worth $238,000. 52.29% of the stock is owned by hedge funds and other institutional investors.

MainStreet Bank Company Profile

MainStreet Bancshares, Inc operates as the bank holding company for MainStreet Bank that provides various banking products and services for individuals, small to medium-sized businesses, and professional service organizations. The company offers demand, NOW, money market, savings, and sweep accounts, as well as certificates of deposit; business and consumer checking, interest-bearing checking, business account analysis, and other depository services; and cash management, wire transfer, check imaging, bill pay, remote deposit capture, and courier services.