MainStreet Bank (NASDAQ:MNSB) Shares Down 0.4% – Here’s What Happened

MainStreet Bank (NASDAQ:MNSB)’s stock price dropped 0.4% during mid-day trading on Thursday. The company traded as low as $24.11 and last traded at $24.27. Approximately 19,925 shares traded hands during mid-day trading, a decline of 28% from the average session volume of 27,812 shares. The stock had previously closed at $24.37.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of MainStreet Bank in a research report on Friday, September 18th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

MainStreet Bank Trading Down 0.4%

The firm has a market cap of $172.80 million, a PE ratio of 11.90 and a beta of 0.57. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.06 and a current ratio of 1.06. The company has a 50 day simple moving average of $24.93 and a two-hundred day simple moving average of $24.06.

MainStreet Bank (NASDAQ:MNSB) last released its quarterly earnings data on Monday, July 20th. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05. MainStreet Bank had a net margin of 13.24% and a return on equity of 9.16%. The firm had revenue of $19.13 million for the quarter, compared to analyst estimates of $21.10 million.

MainStreet Bank Dividend Announcement

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

Institutional Trading of MainStreet Bank

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Toth Financial Advisory Corp raised its holdings in MainStreet Bank by 1,204.4% in the 3rd quarter. Toth Financial Advisory Corp now owns 7,109 shares of the company’s stock worth $176,000 after purchasing an additional 6,564 shares during the period. Empowered Funds LLC lifted its position in shares of MainStreet Bank by 9.7% during the 1st quarter. Empowered Funds LLC now owns 34,396 shares of the company’s stock valued at $764,000 after buying an additional 3,034 shares in the last quarter. Cassaday & Co Wealth Management LLC purchased a new stake in MainStreet Bank in the 1st quarter worth $61,000. Finally, Dimensional Fund Advisors LP raised its position 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 purchasing an additional 28,282 shares during the last quarter. Institutional investors and hedge funds own 52.29% of the company’s stock.

About MainStreet Bank

MainStreet Bancshares, Inc is the bank holding company for MainStreet Bank, a community-focused financial institution headquartered in Fairfax, Virginia. The bank serves businesses, professionals, nonprofit organizations and individuals in the Washington, DC, metropolitan region.

MainStreet Bank provides commercial and retail banking services, including business and consumer lending, commercial real estate financing, residential mortgage products, deposit accounts and cash-management services.