MainStreet Bank (NASDAQ:MNSB) Stock Price Breaks Below Two Hundred Day Moving Average on Disappointing Earnings

MainStreet Bank (NASDAQ:MNSB) shares crossed below its 200-day moving average during trading on Monday following a weaker than expected earnings announcement. The stock has a 200-day moving average of $23.37 and traded as low as $20.77. MainStreet Bank shares last traded at $21.22, with a volume of 116,539 shares traded.

The company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.15). The company had revenue of $19.45 million during the quarter, compared to analysts’ expectations of $21.80 million. MainStreet Bank had a net margin of 13.24% and a return on equity of 9.16%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “buy (b-)” rating on shares of MainStreet Bank in a research report on Friday, September 18th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its position in shares of MainStreet Bank by 20.4% in the first quarter. Dimensional Fund Advisors LP now owns 166,633 shares of the company’s stock valued at $3,699,000 after purchasing an additional 28,282 shares during the period. Empowered Funds LLC increased its stake in MainStreet Bank by 9.7% in the first quarter. Empowered Funds LLC now owns 34,396 shares of the company’s stock valued at $764,000 after purchasing an additional 3,034 shares during the last quarter. Toth Financial Advisory Corp lifted its position in MainStreet Bank by 1,204.4% during the third quarter. Toth Financial Advisory Corp now owns 7,109 shares of the company’s stock worth $176,000 after buying an additional 6,564 shares during the period. Finally, Cassaday & Co Wealth Management LLC purchased a new position in MainStreet Bank during the first quarter worth about $61,000. Hedge funds and other institutional investors own 52.29% of the company’s stock.

MainStreet Bank Price Performance

The company has a 50-day moving average of $24.78 and a two-hundred day moving average of $23.37. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a market capitalization of $151.09 million, a PE ratio of 10.40 and a beta of 0.57.

MainStreet Bank Company Profile

MainStreet Bank is a community bank headquartered in Fairfax, Virginia, and the banking subsidiary of MainStreet Bancshares, Inc, which trades on the Nasdaq under the symbol MNSB. The bank serves businesses, professionals and individuals in Northern Virginia and the broader Washington, DC, metropolitan area.

The bank provides commercial and consumer banking services, including business and personal checking and savings accounts, certificates of deposit, commercial real estate loans, business loans, residential lending and consumer credit.