Renaissance Technologies LLC Sells 34,600 Shares of MainStreet Bank $MNSB

Renaissance Technologies LLC lessened its holdings in MainStreet Bank (NASDAQ:MNSB) by 70.6% during the first quarter, HoldingsChannel reports. The firm owned 14,400 shares of the company’s stock after selling 34,600 shares during the quarter. Renaissance Technologies LLC’s holdings in MainStreet Bank were worth $320,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Dimensional Fund Advisors LP raised its holdings in shares of MainStreet Bank by 20.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 166,633 shares of the company’s stock worth $3,699,000 after buying an additional 28,282 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new stake in MainStreet Bank in the first quarter valued at about $61,000. ELCO Management Co. LLC grew its position in MainStreet Bank by 94.7% in the fourth quarter. ELCO Management Co. LLC now owns 22,312 shares of the company’s stock valued at $454,000 after acquiring an additional 10,850 shares during the last quarter. Barclays PLC grew its position in MainStreet Bank by 16.6% in the fourth quarter. Barclays PLC now owns 26,048 shares of the company’s stock valued at $530,000 after acquiring an additional 3,707 shares during the last quarter. Finally, Creative Planning raised its stake in MainStreet Bank by 5.6% during the third quarter. Creative Planning now owns 22,169 shares of the company’s stock worth $462,000 after acquiring an additional 1,169 shares in the last quarter. Institutional investors own 52.29% of the company’s stock.

MainStreet Bank Stock Performance

NASDAQ MNSB opened at $25.35 on Wednesday. The firm’s fifty day moving average price is $24.16 and its two-hundred day moving average price is $23.21. The stock has a market cap of $180.49 million, a PE ratio of 12.43 and a beta of 0.53. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.06 and a current ratio of 1.06. MainStreet Bank has a fifty-two week low of $17.86 and a fifty-two week high of $25.71.

MainStreet Bank (NASDAQ:MNSB) last announced its quarterly earnings results on Monday, July 20th. The company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.05. MainStreet Bank had a return on equity of 9.16% and a net margin of 13.24%.The company had revenue of $19.13 million during the quarter, compared to analysts’ expectations of $21.10 million. On average, equities analysts expect that MainStreet Bank will post 2.26 EPS for the current fiscal year.

MainStreet Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 11th. Shareholders of record on Tuesday, August 4th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Tuesday, August 4th. MainStreet Bank’s dividend payout ratio is presently 19.61%.

Insider Buying and Selling

In other MainStreet Bank news, CFO Richard Alexander Vari sold 4,500 shares of the stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $23.20, for a total value of $104,400.00. Following the completion of the transaction, the chief financial officer directly owned 34,036 shares in the company, valued at approximately $789,635.20. This trade represents a 11.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 10.17% of the company’s stock.

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 Tuesday, June 23rd. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy”.

MainStreet Bank 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.