Richard Alexander Vari Sells 4,500 Shares of MainStreet Bank (NASDAQ:MNSB) Stock

MainStreet Bank (NASDAQ:MNSB) CFO Richard Alexander Vari sold 4,500 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $23.20, for a total value of $104,400.00. Following the sale, the chief financial officer owned 34,036 shares in the company, valued at approximately $789,635.20. This represents a 11.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

MainStreet Bank Stock Performance

MNSB opened at $23.87 on Friday. The stock has a market cap of $169.95 million, a PE ratio of 11.99 and a beta of 0.55. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.37. MainStreet Bank has a 1 year low of $17.86 and a 1 year high of $25.17. The stock’s 50 day simple moving average is $23.11 and its 200-day simple moving average is $21.76.

MainStreet Bank (NASDAQ:MNSB) last released its quarterly earnings data on Monday, April 20th. The company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.03. The business had revenue of $1.39 million for the quarter, compared to analysts’ expectations of $20.30 million. MainStreet Bank had a return on equity of 9.13% and a net margin of 12.94%. Sell-side analysts forecast that MainStreet Bank will post 2.19 EPS for the current year.

MainStreet Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Monday, May 4th were given a dividend of $0.10 per share. The ex-dividend date was Monday, May 4th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.7%. MainStreet Bank’s payout ratio is currently 20.10%.

Institutional Trading of MainStreet Bank

A number of large investors have recently bought and sold shares of the stock. State Street Corp grew its position in MainStreet Bank by 0.8% in the fourth quarter. State Street Corp now owns 73,562 shares of the company’s stock valued at $1,498,000 after acquiring an additional 582 shares during the period. BNP Paribas Financial Markets grew its position in MainStreet Bank by 58.5% in the third quarter. BNP Paribas Financial Markets now owns 1,761 shares of the company’s stock valued at $37,000 after acquiring an additional 650 shares during the period. Creative Planning grew its position in MainStreet Bank by 5.6% in the third quarter. Creative Planning now owns 22,169 shares of the company’s stock valued at $462,000 after acquiring an additional 1,169 shares during the period. Cresset Asset Management LLC grew its position in MainStreet Bank by 0.4% in the third quarter. Cresset Asset Management LLC now owns 335,723 shares of the company’s stock valued at $6,993,000 after acquiring an additional 1,254 shares during the period. Finally, Empowered Funds LLC grew its position in MainStreet Bank by 3.8% in 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 during the period. 52.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut MainStreet Bank from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, MainStreet Bank presently has an average rating of “Hold”.

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.