Main Street Capital (NYSE:MAIN) Price Target Raised to $62.00

Main Street Capital (NYSE:MAIN) had its price objective boosted by Truist Financial from $52.00 to $62.00 in a research note published on Monday morning,Benzinga reports. They currently have a hold rating on the financial services provider’s stock.

Separately, B. Riley lifted their price target on Main Street Capital from $49.00 to $51.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th.

Main Street Capital Stock Down 1.6 %

Main Street Capital stock opened at $58.10 on Monday. The stock has a market capitalization of $5.12 billion, a PE ratio of 10.53 and a beta of 1.28. Main Street Capital has a 12 month low of $45.00 and a 12 month high of $63.32. The business has a 50 day simple moving average of $60.14 and a 200-day simple moving average of $54.79. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.08 and a quick ratio of 0.08.

Main Street Capital (NYSE:MAIN) last posted its quarterly earnings data on Thursday, February 27th. The financial services provider reported $1.02 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.06). The business had revenue of $140.44 million during the quarter, compared to analysts’ expectations of $141.40 million. Main Street Capital had a net margin of 89.25% and a return on equity of 13.83%. On average, analysts anticipate that Main Street Capital will post 4.11 EPS for the current fiscal year.

Main Street Capital Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, June 6th will be paid a dividend of $0.25 per share. This represents a $3.00 dividend on an annualized basis and a yield of 5.16%. The ex-dividend date is Friday, June 6th. Main Street Capital’s dividend payout ratio (DPR) is currently 51.37%.

Hedge Funds Weigh In On Main Street Capital

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wealthstar Advisors LLC purchased a new stake in Main Street Capital in the fourth quarter valued at $1,326,000. Franklin Resources Inc. raised its position in Main Street Capital by 19.3% in the third quarter. Franklin Resources Inc. now owns 217,461 shares of the financial services provider’s stock valued at $11,119,000 after purchasing an additional 35,227 shares during the period. Segment Wealth Management LLC raised its position in Main Street Capital by 15.8% in the fourth quarter. Segment Wealth Management LLC now owns 50,368 shares of the financial services provider’s stock valued at $2,951,000 after purchasing an additional 6,856 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its position in Main Street Capital by 9.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 209,924 shares of the financial services provider’s stock valued at $10,526,000 after purchasing an additional 18,059 shares during the period. Finally, Janney Montgomery Scott LLC raised its holdings in shares of Main Street Capital by 188.3% in the 3rd quarter. Janney Montgomery Scott LLC now owns 20,176 shares of the financial services provider’s stock valued at $1,012,000 after buying an additional 13,177 shares during the period. Institutional investors and hedge funds own 20.31% of the company’s stock.

About Main Street Capital

Main Street Capital Corporation is a business development company specializes in equity capital to lower middle market companies. The firm specializing in recapitalizations, management buyouts, refinancing, family estate planning, management buyouts, refinancing, industry consolidation, mature, later stage emerging growth.