MainStreet Bank (NASDAQ:MNSB) Releases Earnings Results, Meets Estimates

MainStreet Bank (NASDAQ:MNSB) issued its earnings results on Monday. The company reported $0.58 EPS for the quarter, meeting analysts’ consensus estimates of $0.58, Zacks reports. MainStreet Bank had a return on equity of 9.13% and a net margin of 12.94%.The business had revenue of $19.13 million during the quarter, compared to analyst estimates of $21.10 million.

MainStreet Bank Price Performance

Shares of MNSB stock opened at $24.49 on Tuesday. The firm has a market cap of $174.37 million, a price-to-earnings ratio of 12.31 and a beta of 0.53. MainStreet Bank has a 12 month low of $17.86 and a 12 month high of $25.28. 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 50-day moving average price of $23.79 and a 200 day moving average price of $22.67.

Insider Activity

In other news, CFO Richard Alexander Vari sold 4,500 shares of MainStreet Bank stock in a transaction that occurred 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 completion of the sale, the chief financial officer owned 34,036 shares in the company, valued at $789,635.20. The trade was a 11.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 10.17% of the company’s stock.

Institutional Trading of MainStreet Bank

Institutional investors have recently bought and sold shares of the business. Fourthstone LLC lifted its stake in shares of MainStreet Bank by 50.6% in the 4th quarter. Fourthstone LLC now owns 767,792 shares of the company’s stock valued at $15,632,000 after purchasing an additional 257,859 shares during the period. Alliancebernstein L.P. boosted its holdings in MainStreet Bank by 2.7% during the third quarter. Alliancebernstein L.P. now owns 674,163 shares of the company’s stock worth $14,043,000 after buying an additional 17,515 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of MainStreet Bank by 128.4% during the second quarter. Geode Capital Management LLC now owns 153,516 shares of the company’s stock worth $2,902,000 after purchasing an additional 86,303 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of MainStreet Bank by 16.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 138,351 shares of the company’s stock valued at $2,817,000 after purchasing an additional 19,224 shares during the period. Finally, UBS Group AG increased its position in shares of MainStreet Bank by 3,454.5% during the third quarter. UBS Group AG now owns 134,821 shares of the company’s stock worth $2,808,000 after acquiring an additional 131,028 shares in the last quarter. Institutional investors and hedge funds own 52.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of MainStreet Bank from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, June 23rd. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, MainStreet Bank presently has an average rating of “Moderate Buy”.

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.