MainStreet Bank (NASDAQ:MNSB) Cut to Hold at Zacks Research

Zacks Research lowered shares of MainStreet Bank (NASDAQ:MNSB) from a strong-buy rating to a hold rating in a research note released on Monday,Zacks.com reports.

MainStreet Bank Price Performance

NASDAQ:MNSB opened at $20.41 on Monday. MainStreet Bank has a 12 month low of $15.00 and a 12 month high of $22.98. The stock has a 50 day moving average of $21.35 and a two-hundred day moving average of $19.40. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.38. The firm has a market cap of $157.36 million, a P/E ratio of -13.98 and a beta of 0.58.

MainStreet Bank (NASDAQ:MNSB) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.44 by $0.09. MainStreet Bank had a positive return on equity of 3.72% and a negative net margin of 6.34%.The company had revenue of $19.86 million during the quarter, compared to analyst estimates of $18.90 million. On average, analysts expect that MainStreet Bank will post 1.1 earnings per share for the current fiscal year.

MainStreet Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 13th. Shareholders of record on Wednesday, August 6th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.0%. The ex-dividend date was Wednesday, August 6th. MainStreet Bank’s payout ratio is -27.40%.

Institutional Investors Weigh In On MainStreet Bank

A number of large investors have recently made changes to their positions in the stock. Bank of America Corp DE grew its position in shares of MainStreet Bank by 70.4% in the second quarter. Bank of America Corp DE now owns 5,840 shares of the company’s stock valued at $110,000 after purchasing an additional 2,413 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of MainStreet Bank in the second quarter valued at approximately $73,000. Alliancebernstein L.P. grew its position in shares of MainStreet Bank by 0.9% in the second quarter. Alliancebernstein L.P. now owns 656,648 shares of the company’s stock valued at $12,411,000 after purchasing an additional 5,851 shares in the last quarter. Fourthstone LLC grew its position in shares of MainStreet Bank by 918.4% in the second quarter. Fourthstone LLC now owns 338,085 shares of the company’s stock valued at $6,390,000 after purchasing an additional 304,886 shares in the last quarter. Finally, StoneX Group Inc. purchased a new stake in shares of MainStreet Bank in the second quarter valued at approximately $452,000. 52.29% of the stock is currently owned by hedge funds and other institutional investors.

About MainStreet Bank

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.