MainStreet Bank (NASDAQ:MNSB) Releases Quarterly Earnings Results, Misses Expectations By $0.03 EPS

MainStreet Bank (NASDAQ:MNSB) posted its quarterly earnings data on Monday. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.03), FiscalAI reports. The business had revenue of $2.24 million during the quarter. MainStreet Bank had a negative net margin of 3.32% and a positive return on equity of 6.05%.

MainStreet Bank Stock Performance

NASDAQ MNSB opened at $20.51 on Monday. MainStreet Bank has a twelve month low of $15.00 and a twelve month high of $22.98. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.37. The stock has a market cap of $158.13 million, a P/E ratio of -22.79 and a beta of 0.62. The company’s 50-day simple moving average is $20.18 and its 200 day simple moving average is $20.31.

MainStreet Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 18th. Stockholders of record on Tuesday, November 11th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Monday, November 10th. MainStreet Bank’s dividend payout ratio (DPR) is presently -44.44%.

Insiders Place Their Bets

In other MainStreet Bank news, CFO Thomas J. Chmelik sold 7,238 shares of MainStreet Bank stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $20.09, for a total transaction of $145,411.42. Following the sale, the chief financial officer directly owned 63,761 shares of the company’s stock, valued at approximately $1,280,958.49. The trade was a 10.19% 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. Insiders purchased 848 shares of company stock worth $16,123 over the last 90 days. 9.28% of the stock is currently owned by insiders.

Institutional Trading of MainStreet Bank

Several institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets grew its position in MainStreet Bank by 58.5% in the third quarter. BNP Paribas Financial Markets now owns 1,761 shares of the company’s stock valued at $37,000 after acquiring an additional 650 shares during the period. JPMorgan Chase & Co. grew its holdings 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 purchasing an additional 3,324 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of MainStreet Bank during the 2nd quarter worth about $73,000. Russell Investments Group Ltd. bought a new position in MainStreet Bank during the 3rd quarter valued at about $76,000. Finally, New York State Common Retirement Fund acquired a new position in MainStreet Bank in the second quarter valued at about $102,000. Institutional investors and hedge funds own 52.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Zacks Research raised shares of MainStreet Bank from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Wall Street Zen lowered shares of MainStreet Bank from a “buy” rating to a “hold” rating in a research report on Sunday, November 2nd. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of MainStreet Bank in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce”.

About MainStreet Bank

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.