MainStreet Bank (NASDAQ:MNSB) CFO Sells $104,400.00 in Stock

MainStreet Bank (NASDAQ:MNSB) CFO Richard Alexander Vari sold 4,500 shares of the firm’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $23.20, for a total transaction of $104,400.00. Following the transaction, the chief financial officer directly owned 34,036 shares of the company’s stock, valued at $789,635.20. The trade was a 11.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

MainStreet Bank Stock Performance

MNSB opened at $23.87 on Friday. The stock has a market capitalization of $169.95 million, a price-to-earnings ratio of 11.99 and a beta of 0.55. The company has a fifty day moving average of $23.11 and a 200 day moving average of $21.76. MainStreet Bank has a fifty-two week low of $17.86 and a fifty-two week high of $25.17. 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 posted its earnings results on Monday, April 20th. The company reported $0.48 earnings per share for the quarter, beating the consensus estimate 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 net margin of 12.94% and a return on equity of 9.13%. As a group, sell-side analysts forecast that MainStreet Bank will post 2.26 earnings per share for the current fiscal year.

MainStreet Bank Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Monday, May 4th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Monday, May 4th. MainStreet Bank’s dividend payout ratio (DPR) is presently 20.10%.

Hedge Funds Weigh In On MainStreet Bank

A number of institutional investors and hedge funds have recently made changes to their positions in MNSB. BNP Paribas Financial Markets grew its stake in shares of 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 buying an additional 650 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in shares of MainStreet Bank in the 4th quarter worth $41,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of MainStreet Bank in the 1st quarter worth $61,000. JPMorgan Chase & Co. grew its stake 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 worth $63,000 after buying an additional 3,324 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of MainStreet Bank in the 2nd quarter worth $73,000. 52.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut shares of MainStreet Bank from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold”.

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.