Wellington Management Group LLP Sells 12,062 Shares of MainStreet Bank $MNSB

Key Points

• Wellington Management Group LLP has reduced its stake in MainStreet Bank by 2.8%, now holding 416,508 shares worth approximately $6.96 million.
• MainStreet Bank reported quarterly earnings of $0.53 per share, surpassing analysts' expectations of $0.44, with revenues of $19.86 million.
• The company has declared a quarterly dividend of $0.10 per share, resulting in an annualized yield of 1.8% and a payout ratio of -27.40%.

Wellington Management Group LLP trimmed its position in MainStreet Bank (NASDAQ:MNSB - Free Report) by 2.8% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 416,508 shares of the company's stock after selling 12,062 shares during the period. Wellington Management Group LLP owned about 5.41% of MainStreet Bank worth $6,964,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Cresset Asset Management LLC grew its position in shares of MainStreet Bank by 5.1% during the 1st quarter. Cresset Asset Management LLC now owns 336,207 shares of the company's stock valued at $5,621,000 after acquiring an additional 16,337 shares during the period. HighTower Advisors LLC bought a new position in MainStreet Bank during the first quarter valued at $178,000. Hughes Financial Services LLC bought a new position in MainStreet Bank during the first quarter valued at $91,000. Jane Street Group LLC grew its holdings in MainStreet Bank by 16.0% during the fourth quarter. Jane Street Group LLC now owns 15,957 shares of the company's stock valued at $289,000 after purchasing an additional 2,196 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in MainStreet Bank by 6.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 87,909 shares of the company's stock valued at $1,591,000 after purchasing an additional 5,510 shares during the period. Institutional investors own 52.29% of the company's stock.

MainStreet Bank Stock Performance

NASDAQ MNSB traded down $0.07 on Wednesday, hitting $22.32. 18,129 shares of the stock traded hands, compared to its average volume of 15,239. The business's fifty day moving average is $20.80 and its two-hundred day moving average is $18.73. MainStreet Bank has a 12 month low of $15.00 and a 12 month high of $22.98. The firm has a market capitalization of $172.09 million, a price-to-earnings ratio of -15.29 and a beta of 0.61. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.07 and a current ratio of 1.07.

MainStreet Bank (NASDAQ:MNSB - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $0.53 earnings per share for the quarter, beating 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 business had revenue of $19.86 million during the quarter, compared to analyst estimates of $18.90 million. As a group, equities analysts anticipate that MainStreet Bank will post 1.1 EPS for the current fiscal year.

MainStreet Bank Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 13th. Stockholders of record on Wednesday, August 6th were paid a $0.10 dividend. The ex-dividend date was Wednesday, August 6th. This represents a $0.40 annualized dividend and a dividend yield of 1.8%. 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.