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

Key Points

• MainStreet Bank has declared a quarterly dividend of $0.10 per share, with an ex-dividend date of August 6th and payment date on August 13th, resulting in an annualized dividend of $0.40 and a yield of 1.89%.
• The bank reported earnings of $0.53 per share for the last quarter, surpassing analyst expectations, and has a projected future payout ratio of 27.0%, indicating strong earnings coverage for the dividend.
• Shares of MainStreet Bank traded at $21.16, with a market capitalization of $162.93 million, while institutional investors hold 52.29% of the stock.

MainStreet Bank (NASDAQ:MNSB - Get Free Report) declared a quarterly dividend on Friday, July 25th, Wall Street Journal reports. Stockholders of record on Wednesday, August 6th will be given a dividend of 0.10 per share on Wednesday, August 13th. This represents a $0.40 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Wednesday, August 6th.

MainStreet Bank has a dividend payout ratio of 18.6% meaning its dividend is sufficiently covered by earnings. Analysts expect MainStreet Bank to earn $1.48 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 27.0%.

MainStreet Bank Stock Performance

Shares of MainStreet Bank stock traded down $0.14 during trading on Friday, hitting $21.16. 14,717 shares of the stock were exchanged, compared to its average volume of 24,444. MainStreet Bank has a 1-year low of $15.00 and a 1-year high of $22.76. The stock has a market capitalization of $162.93 million, a price-to-earnings ratio of -14.49 and a beta of 0.56. The company has a fifty day moving average price of $19.29 and a 200-day moving average price of $17.83. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.40.

MainStreet Bank (NASDAQ:MNSB - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $0.53 EPS for the quarter, beating analysts' consensus estimates of $0.44 by $0.09. MainStreet Bank had a negative net margin of 6.34% and a positive return on equity of 3.71%. The business had revenue of $19.86 million for the quarter, compared to analyst estimates of $18.90 million. As a group, equities analysts predict that MainStreet Bank will post 1.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in MainStreet Bank stock. Empowered Funds LLC raised its holdings in MainStreet Bank (NASDAQ:MNSB - Free Report) by 3.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,329 shares of the company's stock after purchasing an additional 1,265 shares during the period. Empowered Funds LLC owned approximately 0.45% of MainStreet Bank worth $574,000 at the end of the most recent quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.