MainStreet Bank (NASDAQ:MNSB) Declares Quarterly Dividend of $0.10

Key Points

• Declared quarterly dividend of $0.10 per share (annualized $0.40) with an ex-dividend/record date of May 4 and payable May 11, implying a yield of about 1.7%.
• The dividend appears well covered: MainStreet Bank has a current payout ratio of 18.6% and analysts project $2.35 EPS next year, implying a future payout ratio near 17%.
• MainStreet Bank reported a quarterly earnings beat ($0.48 vs. $0.45 expected), its stock traded at $23.71 with a market cap of ~$183.2M and a P/E of 11.99, and consensus analyst coverage is a "Hold."

MainStreet Bank (NASDAQ:MNSB - Get Free Report) declared a quarterly dividend on Tuesday, April 21st. Investors of record on Monday, May 4th will be given a dividend of 0.10 per share on Monday, May 11th. This represents a c) dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Monday, May 4th.

MainStreet Bank has a payout ratio of 18.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect MainStreet Bank to earn $2.35 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 17.0%.

MainStreet Bank Stock Performance

MainStreet Bank stock traded up $0.19 during midday trading on Wednesday, hitting $23.71. The company's stock had a trading volume of 18,000 shares, compared to its average volume of 54,453. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market cap of $183.24 million, a price-to-earnings ratio of 11.99 and a beta of 0.56. MainStreet Bank has a 1-year low of $17.73 and a 1-year high of $25.14. The company has a 50-day moving average price of $22.40 and a two-hundred day moving average price of $20.82.

MainStreet Bank (NASDAQ:MNSB - Get Free Report) last released its quarterly earnings results on Monday, April 20th. The company reported $0.48 earnings per share for the quarter, beating analysts' consensus estimates of $0.45 by $0.03. The company had revenue of $1.39 million during the quarter, compared to the consensus estimate of $20.30 million. MainStreet Bank had a net margin of 12.94% and a return on equity of 9.11%. As a group, sell-side analysts predict that MainStreet Bank will post 2.12 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on MNSB. Weiss Ratings upgraded MainStreet Bank from a "sell (d+)" rating to a "hold (c+)" rating in a research note on Wednesday, April 8th. Zacks Research upgraded MainStreet Bank from a "strong sell" rating to a "hold" rating in a research note on Monday, December 29th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, MainStreet Bank currently has a consensus rating of "Hold".

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.

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