ELCO Management Co. LLC Sells 5,670 Shares of MainStreet Bank $MNSB

ELCO Management Co. LLC lessened its holdings in shares of MainStreet Bank (NASDAQ:MNSB) by 27.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,659 shares of the company’s stock after selling 5,670 shares during the quarter. ELCO Management Co. LLC owned approximately 0.19% of MainStreet Bank worth $277,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Cresset Asset Management LLC raised its position in MainStreet Bank by 5.1% during the first quarter. Cresset Asset Management LLC now owns 336,207 shares of the company’s stock valued at $5,621,000 after acquiring an additional 16,337 shares in the last quarter. Empowered Funds LLC raised its position in MainStreet Bank by 3.8% during the first quarter. Empowered Funds LLC now owns 34,329 shares of the company’s stock valued at $574,000 after acquiring an additional 1,265 shares in the last quarter. Jane Street Group LLC lifted its holdings in MainStreet Bank by 33.3% in the 1st quarter. Jane Street Group LLC now owns 21,270 shares of the company’s stock worth $356,000 after purchasing an additional 5,313 shares during the last quarter. HighTower Advisors LLC bought a new stake in MainStreet Bank during the first quarter worth approximately $178,000. Finally, Hughes Financial Services LLC bought a new stake in MainStreet Bank during the first quarter worth approximately $91,000. Institutional investors own 52.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of MainStreet Bank in a research report on Wednesday, October 8th. Wall Street Zen raised MainStreet Bank from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Zacks Research cut MainStreet Bank from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, MainStreet Bank has an average rating of “Reduce”.

MainStreet Bank Stock Down 1.0%

Shares of MNSB stock opened at $19.13 on Wednesday. MainStreet Bank has a 12 month low of $15.00 and a 12 month high of $22.98. The firm has a market cap of $147.49 million, a PE ratio of -21.26 and a beta of 0.58. The stock has a 50 day moving average of $20.80 and a 200-day moving average of $19.79. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.38.

MainStreet Bank (NASDAQ:MNSB) last issued its quarterly earnings results on Monday, October 27th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. MainStreet Bank had a positive return on equity of 6.12% and a negative net margin of 3.32%.The company had revenue of $18.22 million during the quarter, compared to analyst estimates of $19.40 million. On average, equities analysts predict that MainStreet Bank will post 1.1 EPS for the current year.

MainStreet Bank Profile

MainStreet Bancshares, Inc operates as the bank holding company for MainStreet Bank that provides various banking products and services for individuals, small to medium-sized businesses, and professional service organizations. The company offers demand, NOW, money market, savings, and sweep accounts, as well as certificates of deposit; business and consumer checking, interest-bearing checking, business account analysis, and other depository services; and cash management, wire transfer, check imaging, bill pay, remote deposit capture, and courier services.