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

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) announced a quarterly dividend on Wednesday, July 23rd, Wall Street Journal reports. Investors 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 1.95%. The ex-dividend date is Wednesday, August 6th.

MainStreet Bank has a payout ratio of 18.6% indicating that 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 Down 1.0%

Shares of MNSB stock traded down $0.20 on Tuesday, hitting $20.55. The company's stock had a trading volume of 12,122 shares, compared to its average volume of 25,451. The stock has a market capitalization of $158.24 million, a price-to-earnings ratio of -14.08 and a beta of 0.56. MainStreet Bank has a fifty-two week low of $15.00 and a fifty-two week high of $22.76. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.08 and a quick ratio of 1.08. The firm's fifty day moving average price is $19.37 and its 200-day moving average price is $17.91.

MainStreet Bank (NASDAQ:MNSB - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $19.86 million for the quarter, compared to analyst estimates of $18.90 million. Research analysts anticipate that MainStreet Bank will post 1.1 EPS for the current year.

Hedge Funds Weigh In On MainStreet Bank

A hedge fund recently raised its stake in MainStreet Bank stock. Jane Street Group LLC increased its holdings in shares of MainStreet Bank (NASDAQ:MNSB - Free Report) by 33.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,270 shares of the company's stock after purchasing an additional 5,313 shares during the quarter. Jane Street Group LLC owned approximately 0.28% of MainStreet Bank worth $356,000 as of its most recent SEC filing. Institutional investors and hedge funds own 52.29% of the company's stock.

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.