MainStreet Bank (NASDAQ:MNSB) Raised to “Hold” at Zacks Research

MainStreet Bank (NASDAQ:MNSB) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

MNSB has been the subject of a number of other reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of MainStreet Bank in a research report on Monday. Wall Street Zen downgraded MainStreet Bank from a “buy” rating to a “hold” rating in a research note on Sunday, November 2nd. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce”.

MainStreet Bank Stock Down 1.5%

MNSB opened at $20.40 on Monday. MainStreet Bank has a fifty-two week low of $15.00 and a fifty-two week high of $22.98. The firm has a market capitalization of $157.20 million, a P/E ratio of -22.67 and a beta of 0.63. The company’s 50-day moving average is $19.62 and its 200 day moving average is $20.18. 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 quarterly earnings data on Monday, October 27th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. MainStreet Bank had a negative net margin of 3.32% and a positive return on equity of 6.05%. The business had revenue of $18.22 million during the quarter, compared to the consensus estimate of $19.40 million. Research analysts expect that MainStreet Bank will post 1.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other MainStreet Bank news, CFO Thomas J. Chmelik sold 7,238 shares of the firm’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $20.09, for a total value of $145,411.42. Following the completion of the sale, the chief financial officer directly 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 transaction was disclosed in a filing with the SEC, which is available through this link. Insiders acquired 848 shares of company stock worth $16,123 over the last three months. 9.28% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets increased its holdings in MainStreet Bank by 58.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,761 shares of the company’s stock worth $37,000 after acquiring an additional 650 shares during the last quarter. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of MainStreet Bank in the second quarter worth about $33,000. JPMorgan Chase & Co. increased its stake in shares of MainStreet Bank by 66,480.0% in the second quarter. JPMorgan Chase & Co. now owns 3,329 shares of the company’s stock worth $63,000 after purchasing an additional 3,324 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in shares of MainStreet Bank in the third quarter valued at approximately $76,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of MainStreet Bank during the 2nd quarter valued at approximately $73,000. Hedge funds and other institutional investors own 52.29% of the company’s stock.

MainStreet Bank Company Profile

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.