MainStreet Bank (NASDAQ:MNSB) Lowered to "Hold" Rating by Zacks Research

Key Points

• MainStreet Bank has been downgraded by Zacks Research from a "strong-buy" to a "hold" rating, indicating a shift in analyst sentiment regarding the stock's performance.
• The company reported earnings per share of $0.53 for the last quarter, exceeding estimates, and achieved revenue of $19.86 million compared to expectations of $18.90 million.
• Institutional investors and hedge funds own 52.29% of MainStreet Bank's stock, with several firms significantly increasing their stakes during the second quarter.

MainStreet Bank (NASDAQ:MNSB - Get Free Report) was downgraded by investment analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report released on Monday,Zacks.com reports.

MainStreet Bank Stock Performance

Shares of MNSB stock opened at $20.83 on Monday. The stock has a market capitalization of $160.60 million, a PE ratio of -14.27 and a beta of 0.61. MainStreet Bank has a 52-week low of $15.00 and a 52-week high of $22.98. The stock's 50-day moving average price is $21.38 and its 200 day moving average price is $19.40. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.38.

MainStreet Bank (NASDAQ:MNSB - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $0.53 earnings per share (EPS) 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 firm had revenue of $19.86 million for the quarter, compared to analysts' expectations of $18.90 million. As a group, equities research analysts forecast that MainStreet Bank will post 1.1 EPS for the current year.

Hedge Funds Weigh In On MainStreet Bank

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Alliancebernstein L.P. increased its position in MainStreet Bank by 0.9% during the 2nd quarter. Alliancebernstein L.P. now owns 656,648 shares of the company's stock worth $12,411,000 after purchasing an additional 5,851 shares during the period. Fourthstone LLC increased its position in MainStreet Bank by 918.4% during the 2nd quarter. Fourthstone LLC now owns 338,085 shares of the company's stock worth $6,390,000 after purchasing an additional 304,886 shares during the period. Cresset Asset Management LLC increased its position in MainStreet Bank by 5.1% during the 1st quarter. Cresset Asset Management LLC now owns 336,207 shares of the company's stock worth $5,621,000 after purchasing an additional 16,337 shares during the period. Geode Capital Management LLC increased its position in MainStreet Bank by 128.4% during the 2nd quarter. Geode Capital Management LLC now owns 153,516 shares of the company's stock worth $2,902,000 after purchasing an additional 86,303 shares during the period. Finally, Empowered Funds LLC increased its position in MainStreet Bank by 3.8% during the 1st quarter. Empowered Funds LLC now owns 34,329 shares of the company's stock worth $574,000 after purchasing an additional 1,265 shares during the period. Institutional investors and hedge funds own 52.29% of the company's stock.

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.

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