Main Street Capital (NYSE:MAIN) Price Target Raised to $58.00

Main Street Capital (NYSE:MAIN) had its target price raised by UBS Group from $57.00 to $58.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the financial services provider’s stock.

Other equities research analysts have also issued reports about the stock. Wells Fargo & Company upgraded shares of Main Street Capital from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $55.00 to $60.00 in a report on Tuesday, September 29th. Zacks Research upgraded shares of Main Street Capital from a “strong sell” rating to a “hold” rating in a research report on Monday, July 20th. Citigroup reaffirmed a “market outperform” rating on shares of Main Street Capital in a research note on Monday, August 10th. Wall Street Zen lowered shares of Main Street Capital from a “hold” rating to a “sell” rating in a report on Sunday, October 11th. Finally, Truist Financial increased their target price on shares of Main Street Capital from $53.00 to $57.00 and gave the stock a “hold” rating in a report on Monday, August 10th. Five equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $61.17.

Main Street Capital Stock Down 1.0%

Shares of NYSE MAIN opened at $56.64 on Monday. The stock has a market capitalization of $5.32 billion, a P/E ratio of 14.74 and a beta of 0.73. Main Street Capital has a one year low of $48.95 and a one year high of $65.23. The firm’s 50 day simple moving average is $55.45 and its two-hundred day simple moving average is $55.30. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.06 and a quick ratio of 0.05.

Main Street Capital (NYSE:MAIN) last announced its quarterly earnings data on Thursday, November 5th. The financial services provider reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.03). Main Street Capital had a return on equity of 11.45% and a net margin of 76.98%. The business had revenue of $142.53 million during the quarter, compared to the consensus estimate of $145.67 million. As a group, analysts expect that Main Street Capital will post 3.74 EPS for the current fiscal year.

Main Street Capital Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, March 15th. Shareholders of record on Monday, March 8th will be paid a dividend of $0.27 per share. This represents a $3.24 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date is Monday, March 8th. Main Street Capital’s dividend payout ratio (DPR) is currently 65.84%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MAIN. Advisors Asset Management Inc. purchased a new position in Main Street Capital in the 3rd quarter worth approximately $4,325,000. Private Advisor Group LLC grew its stake in shares of Main Street Capital by 16.1% in the third quarter. Private Advisor Group LLC now owns 188,642 shares of the financial services provider’s stock worth $10,385,000 after acquiring an additional 26,179 shares during the period. Global Retirement Partners LLC grew its stake in shares of Main Street Capital by 18.1% in the third quarter. Global Retirement Partners LLC now owns 4,299 shares of the financial services provider’s stock worth $237,000 after acquiring an additional 660 shares during the period. First Financial Bankshares Inc grew its stake in shares of Main Street Capital by 11.9% in the third quarter. First Financial Bankshares Inc now owns 48,741 shares of the financial services provider’s stock worth $2,683,000 after acquiring an additional 5,200 shares during the period. Finally, HighTower Advisors LLC raised its holdings in shares of Main Street Capital by 4.6% during the third quarter. HighTower Advisors LLC now owns 97,053 shares of the financial services provider’s stock valued at $5,343,000 after purchasing an additional 4,273 shares during the last quarter. Institutional investors own 20.31% of the company’s stock.

About Main Street Capital

Main Street Capital Corporation is a business development company that provides customized debt and equity financing to privately held businesses. It focuses on lower middle market companies and also invests in debt securities issued by middle market businesses. The company’s financing can support business growth, acquisitions, recapitalizations, and management buyouts. Main Street generally works directly with portfolio companies and their owners, offering capital structures tailored to each business’s needs.