MainStreet Bank (NASDAQ:MNSB) Receives Sell (D+) Rating from Weiss Ratings

Key Points

• MainStreet Bank's stock has received a Sell (D+) rating from Weiss Ratings, alongside a downgrade from a "strong-buy" to a "hold" rating by Zacks Research.
• The stock is currently trading at $19.68 with a market capitalization of $151.73 million and a negative P/E ratio of -13.48.
• Institutional investors hold 52.29% of MainStreet Bank's shares, with significant recent purchases by firms such as JPMorgan Chase & Co. and the New York State Common Retirement Fund.

MainStreet Bank (NASDAQ:MNSB - Get Free Report)'s stock had its "sell (d+)" rating reissued by analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Separately, Zacks Research downgraded MainStreet Bank from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 29th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Reduce".

MainStreet Bank Stock Down 1.4%

NASDAQ MNSB opened at $19.68 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market capitalization of $151.73 million, a P/E ratio of -13.48 and a beta of 0.58. MainStreet Bank has a one year low of $15.00 and a one year high of $22.98. The stock has a 50 day moving average price of $21.27 and a 200-day moving average price of $19.50.

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, topping analysts' consensus estimates of $0.44 by $0.09. The company had revenue of $19.86 million during the quarter, compared to the consensus estimate of $18.90 million. MainStreet Bank had a positive return on equity of 3.72% and a negative net margin of 6.34%. As a group, equities analysts predict that MainStreet Bank will post 1.1 EPS for the current fiscal year.

Hedge Funds Weigh In On MainStreet Bank

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MNSB. Police & Firemen s Retirement System of New Jersey bought a new position in MainStreet Bank during the 2nd quarter valued at $33,000. JPMorgan Chase & Co. boosted its stake in MainStreet Bank by 66,480.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,329 shares of the company's stock valued at $63,000 after purchasing an additional 3,324 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in MainStreet Bank during the 2nd quarter valued at $73,000. Hughes Financial Services LLC bought a new stake in shares of MainStreet Bank during the 1st quarter worth $91,000. Finally, New York State Common Retirement Fund bought a new stake in shares of MainStreet Bank during the 2nd quarter worth $102,000. 52.29% of the stock is owned by institutional investors.

About MainStreet Bank

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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