MainStreet Bank (NASDAQ:MNSB) CFO Richard Alexander Vari Sells 4,500 Shares

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

MainStreet Bank Stock Performance

NASDAQ MNSB traded up $0.70 during trading on Thursday, reaching $23.37. The company’s stock had a trading volume of 30,299 shares, compared to its average volume of 52,201. 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 firm has a market capitalization of $166.37 million, a price-to-earnings ratio of 11.75 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 firm has a 50 day moving average price of $23.04 and a 200 day moving average price of $21.71.

MainStreet Bank (NASDAQ:MNSB) last posted its quarterly earnings data on Monday, April 20th. The company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.03. The firm had revenue of $1.39 million during the quarter, compared to the consensus estimate of $20.30 million. MainStreet Bank had a net margin of 12.94% and a return on equity of 9.13%. As a group, equities analysts anticipate that MainStreet Bank will post 2.19 EPS for the current fiscal year.

MainStreet Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were issued a $0.10 dividend. The ex-dividend date of this dividend was Monday, May 4th. This represents a $0.40 dividend on an annualized basis and a yield of 1.7%. MainStreet Bank’s payout ratio is currently 20.10%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of MainStreet Bank from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, May 20th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, MainStreet Bank presently has an average rating of “Moderate Buy”.

Institutional Trading of MainStreet Bank

Institutional investors and hedge funds have recently made changes to their positions in the company. Bank of America Corp DE lifted its holdings in shares of MainStreet Bank by 70.4% during the 2nd quarter. Bank of America Corp DE now owns 5,840 shares of the company’s stock worth $110,000 after acquiring an additional 2,413 shares during the period. New York State Common Retirement Fund acquired a new position in MainStreet Bank during the 2nd quarter worth approximately $102,000. Russell Investments Group Ltd. acquired a new position in MainStreet Bank during the 3rd quarter worth approximately $76,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in MainStreet Bank during the 2nd quarter worth approximately $73,000. Finally, JPMorgan Chase & Co. increased its position in MainStreet Bank by 66,480.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,329 shares of the company’s stock worth $63,000 after purchasing an additional 3,324 shares in the last quarter. Institutional investors own 52.29% of the company’s stock.

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.