MainStreet Bank $MNSB Shares Acquired by Cresset Asset Management LLC

Key Points

• Cresset Asset Management LLC has increased its stake in MainStreet Bank (NASDAQ:MNSB) by 5.1%, owning approximately 4.36% of the bank, valued at $5.6 million after acquiring an additional 16,337 shares.
• MainStreet Bank recently reported quarterly earnings of $0.53 per share, surpassing estimates, and also announced a $0.10 quarterly dividend with a yield of 1.9%.
• Other major investors like Dimensional Fund Advisors and Mendon Capital Advisors have also raised their positions in MainStreet Bank, contributing to institutional ownership of 52.29% of the company's stock.

Cresset Asset Management LLC grew its position in shares of MainStreet Bank (NASDAQ:MNSB - Free Report) by 5.1% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 336,207 shares of the company's stock after purchasing an additional 16,337 shares during the period. Cresset Asset Management LLC owned approximately 4.36% of MainStreet Bank worth $5,621,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. HighTower Advisors LLC acquired a new position in MainStreet Bank during the first quarter worth $178,000. Hughes Financial Services LLC acquired a new position in MainStreet Bank during the first quarter worth $91,000. Jane Street Group LLC lifted its stake in MainStreet Bank by 16.0% during the fourth quarter. Jane Street Group LLC now owns 15,957 shares of the company's stock worth $289,000 after purchasing an additional 2,196 shares in the last quarter. Mendon Capital Advisors Corp lifted its stake in MainStreet Bank by 136.1% during the fourth quarter. Mendon Capital Advisors Corp now owns 51,443 shares of the company's stock worth $931,000 after purchasing an additional 29,657 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in MainStreet Bank by 6.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 87,909 shares of the company's stock worth $1,591,000 after purchasing an additional 5,510 shares in the last quarter. 52.29% of the stock is currently owned by institutional investors and hedge funds.

MainStreet Bank Trading Up 5.0%

NASDAQ:MNSB traded up $1.08 during trading hours on Friday, reaching $22.83. 26,131 shares of the stock were exchanged, compared to its average volume of 23,532. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.38. The business has a 50-day moving average of $20.02 and a two-hundred day moving average of $18.36. MainStreet Bank has a twelve month low of $15.00 and a twelve month high of $22.84. The company has a market capitalization of $176.02 million, a price-to-earnings ratio of -15.64 and a beta of 0.58.

MainStreet Bank (NASDAQ:MNSB - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $0.53 EPS for the quarter, topping analysts' consensus estimates of $0.44 by $0.09. The company had revenue of $19.86 million for the quarter, compared to analysts' expectations of $18.90 million. MainStreet Bank had a positive return on equity of 3.72% and a negative net margin of 6.34%. On average, equities analysts predict that MainStreet Bank will post 1.1 EPS for the current year.

MainStreet Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 13th. Stockholders of record on Wednesday, August 6th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Wednesday, August 6th. MainStreet Bank's dividend payout ratio (DPR) is presently -27.40%.

MainStreet Bank Company 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.