MainStreet Bank (NASDAQ:MNSB) Announces Quarterly Earnings Results

MainStreet Bank (NASDAQ:MNSB) released its quarterly earnings results on Monday. The company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.05, Zacks reports. The firm had revenue of $19.13 million for the quarter, compared to analyst estimates of $21.10 million. MainStreet Bank had a return on equity of 9.12% and a net margin of 13.24%.

MainStreet Bank Stock Down 4.5%

MNSB stock opened at $23.39 on Wednesday. The stock’s 50 day simple moving average is $23.80 and its 200 day simple moving average is $22.70. The company has a market cap of $166.47 million, a P/E ratio of 11.47 and a beta of 0.53. 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 has a fifty-two week low of $17.86 and a fifty-two week high of $25.28.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded 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 issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy”.

Insider Buying and Selling

In other MainStreet Bank news, CFO Richard Alexander Vari sold 4,500 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief financial officer owned 34,036 shares of the company’s stock, valued at approximately $789,635.20. This trade represents a 11.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 10.17% of the company’s stock.

Hedge Funds Weigh In On MainStreet Bank

A number of large investors have recently modified their holdings of the company. Mendon Capital Advisors Corp grew its position in MainStreet Bank by 22.8% in the 4th quarter. Mendon Capital Advisors Corp now owns 47,312 shares of the company’s stock valued at $963,000 after purchasing an additional 8,786 shares during the period. Empowered Funds LLC raised its holdings in MainStreet Bank by 9.6% during the fourth quarter. Empowered Funds LLC now owns 31,362 shares of the company’s stock worth $639,000 after buying an additional 2,755 shares during the last quarter. Bridgeway Capital Management LLC raised its holdings in MainStreet Bank by 17.7% during the fourth quarter. Bridgeway Capital Management LLC now owns 60,742 shares of the company’s stock worth $1,237,000 after buying an additional 9,155 shares during the last quarter. Trexquant Investment LP acquired a new position in MainStreet Bank during the fourth quarter worth $239,000. Finally, Squarepoint Ops LLC bought a new position in shares of MainStreet Bank in the fourth quarter valued at $701,000. 52.29% of the stock is currently owned by institutional investors.

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.