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

Main Street Capital (NYSE:MAIN) had its price target lifted by Truist Financial from $52.00 to $62.00 in a report released on Monday,Benzinga reports. Truist Financial currently has a hold rating on the financial services provider’s stock.

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

Main Street Capital Price Performance

Shares of MAIN stock opened at $58.10 on Monday. Main Street Capital has a 1-year low of $45.00 and a 1-year high of $63.32. The stock’s 50-day moving average is $60.14 and its 200 day moving average is $54.79. The company has a market cap of $5.12 billion, a P/E ratio of 10.53 and a beta of 1.28. 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 issued its quarterly earnings results on Thursday, February 27th. The financial services provider reported $1.02 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.06). The business had revenue of $140.44 million during the quarter, compared to analyst estimates of $141.40 million. Main Street Capital had a return on equity of 13.83% and a net margin of 89.25%. Research analysts predict that Main Street Capital will post 4.11 earnings per share for the current fiscal year.

Main Street Capital Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, June 6th will be paid a $0.25 dividend. This represents a $3.00 annualized dividend and a dividend yield of 5.16%. The ex-dividend date of this dividend is Friday, June 6th. Main Street Capital’s payout ratio is 51.37%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Wealthstar Advisors LLC purchased a new position in Main Street Capital during the fourth quarter valued at approximately $1,326,000. Franklin Resources Inc. raised its position in Main Street Capital by 19.3% during the third quarter. Franklin Resources Inc. now owns 217,461 shares of the financial services provider’s stock valued at $11,119,000 after acquiring an additional 35,227 shares in the last quarter. Segment Wealth Management LLC raised its position in Main Street Capital by 15.8% during 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 acquiring an additional 6,856 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in Main Street Capital by 9.4% during 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 acquiring an additional 18,059 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its position in Main Street Capital by 188.3% during the third quarter. Janney Montgomery Scott LLC now owns 20,176 shares of the financial services provider’s stock valued at $1,012,000 after acquiring an additional 13,177 shares in the last quarter. 20.31% of the stock is currently owned by hedge funds and other institutional investors.

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.