Truist Financial Issues Positive Forecast for Main Street Capital (NYSE:MAIN) Stock Price

Main Street Capital (NYSE:MAIN) had its price objective raised by Truist Financial from $54.00 to $64.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a hold rating on the financial services provider’s stock.

Other analysts have also issued research reports about the company. Oppenheimer reissued a “market perform” rating on shares of Main Street Capital in a research report on Tuesday, May 13th. UBS Group reissued a “neutral” rating and issued a $58.00 target price (up previously from $56.00) on shares of Main Street Capital in a research report on Wednesday, July 16th. B. Riley raised Main Street Capital to a “hold” rating in a research report on Monday, June 16th. Finally, Wall Street Zen raised Main Street Capital from a “sell” rating to a “hold” rating in a research report on Sunday, August 3rd. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Main Street Capital has a consensus rating of “Hold” and a consensus target price of $55.60.

Main Street Capital Trading Up 1.3%

MAIN opened at $67.56 on Monday. Main Street Capital has a one year low of $47.00 and a one year high of $67.68. The stock has a market capitalization of $6.04 billion, a PE ratio of 11.13 and a beta of 0.85. The business’s 50 day moving average price is $61.74 and its 200 day moving average price is $58.43. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.10 and a current ratio of 0.09.

Main Street Capital (NYSE:MAIN) last released its quarterly earnings data on Thursday, August 7th. The financial services provider reported $0.99 EPS for the quarter, meeting analysts’ consensus estimates of $0.99. Main Street Capital had a return on equity of 12.70% and a net margin of 96.16%. The firm had revenue of $143.97 million for the quarter, compared to analysts’ expectations of $137.23 million. As a group, equities research analysts expect that Main Street Capital will post 4.11 EPS for the current year.

Main Street Capital Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be given a dividend of $0.255 per share. The ex-dividend date of this dividend is Monday, December 8th. This represents a c) dividend on an annualized basis and a dividend yield of 4.5%. Main Street Capital’s dividend payout ratio is currently 50.41%.

Insider Buying and Selling at Main Street Capital

In other news, EVP Jason B. Beauvais sold 13,664 shares of the company’s stock in a transaction on Friday, June 27th. The stock was sold at an average price of $59.37, for a total transaction of $811,231.68. Following the sale, the executive vice president owned 181,526 shares of the company’s stock, valued at approximately $10,777,198.62. This represents a 7.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.00% of the company’s stock.

Institutional Trading of Main Street Capital

Large investors have recently modified their holdings of the stock. Financial Network Wealth Advisors LLC purchased a new stake in shares of Main Street Capital during the first quarter worth $39,000. Spire Wealth Management acquired a new position in shares of Main Street Capital during the first quarter worth $40,000. Wellington Shields & Co. LLC acquired a new position in shares of Main Street Capital during the first quarter worth $41,000. Kapitalo Investimentos Ltda acquired a new position in shares of Main Street Capital during the fourth quarter worth $45,000. Finally, Quarry LP acquired a new position in shares of Main Street Capital during the first quarter worth $48,000. Hedge funds and other institutional investors own 20.31% of the company’s stock.

Main Street Capital Company Profile

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.