MainStreet Bank Announces Quarterly Dividend of $0.10 (NASDAQ:MNSB)

MainStreet Bank (NASDAQ:MNSB) announced a quarterly dividend on Tuesday, January 27th. Stockholders of record on Monday, February 9th will be given a dividend of 0.10 per share on Monday, February 16th. This represents a c) annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Monday, February 9th.

MainStreet Bank has a payout ratio of 18.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect MainStreet Bank to earn $1.48 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 27.0%.

MainStreet Bank Trading Up 0.3%

NASDAQ:MNSB traded up $0.06 during mid-day trading on Wednesday, reaching $20.67. The company’s stock had a trading volume of 52,308 shares, compared to its average volume of 42,750. MainStreet Bank has a twelve month low of $15.00 and a twelve month high of $22.98. The company’s fifty day simple moving average is $20.27 and its two-hundred day simple moving average is $20.31. The stock has a market cap of $159.28 million, a P/E ratio of 11.74 and a beta of 0.62. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.07.

MainStreet Bank (NASDAQ:MNSB) last issued its earnings results on Monday, January 26th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.03). MainStreet Bank had a return on equity of 8.37% and a net margin of 11.51%.The firm had revenue of $2.24 million for the quarter, compared to analysts’ expectations of $19.60 million. On average, equities analysts predict that MainStreet Bank will post 1.1 EPS for the current year.

Insider Buying and Selling at MainStreet Bank

In related news, CFO Thomas J. Chmelik sold 7,238 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $20.09, for a total transaction of $145,411.42. Following the completion of the transaction, the chief financial officer owned 63,761 shares of the company’s stock, valued at $1,280,958.49. This trade represents a 10.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders purchased a total of 848 shares of company stock worth $16,123 over the last quarter. Insiders own 9.28% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Alliancebernstein L.P. lifted its stake in shares of MainStreet Bank by 2.7% in the 3rd quarter. Alliancebernstein L.P. now owns 674,163 shares of the company’s stock valued at $14,043,000 after purchasing an additional 17,515 shares during the last quarter. Fourthstone LLC raised its holdings in MainStreet Bank by 918.4% during the second quarter. Fourthstone LLC now owns 338,085 shares of the company’s stock valued at $6,390,000 after buying an additional 304,886 shares in the last quarter. Cresset Asset Management LLC lifted its position in shares of MainStreet Bank by 0.4% in the third quarter. Cresset Asset Management LLC now owns 335,723 shares of the company’s stock worth $6,993,000 after buying an additional 1,254 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of MainStreet Bank by 128.4% during the 2nd quarter. Geode Capital Management LLC now owns 153,516 shares of the company’s stock worth $2,902,000 after acquiring an additional 86,303 shares in the last quarter. Finally, UBS Group AG increased its holdings in shares of MainStreet Bank by 3,454.5% during the 3rd quarter. UBS Group AG now owns 134,821 shares of the company’s stock valued at $2,808,000 after acquiring an additional 131,028 shares during the last quarter. Institutional investors own 52.29% of the company’s stock.

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.