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

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

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

Main Street Capital Stock Performance

Shares of NYSE:MAIN opened at $60.53 on Monday. The business’s fifty day moving average price is $60.08 and its two-hundred day moving average price is $54.70. Main Street Capital has a fifty-two week low of $45.00 and a fifty-two week high of $63.32. The stock has a market capitalization of $5.34 billion, a price-to-earnings ratio of 10.97 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 announced its quarterly earnings results on Thursday, February 27th. The financial services provider reported $1.02 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.06). Main Street Capital had a net margin of 89.25% and a return on equity of 13.83%. The company had revenue of $140.44 million during the quarter, compared to the consensus estimate of $141.40 million. As a group, analysts predict that Main Street Capital will post 4.11 EPS for the current fiscal year.

Main Street Capital Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, June 6th will be paid a $0.25 dividend. This represents a $3.00 annualized dividend and a yield of 4.96%. The ex-dividend date is Friday, June 6th. Main Street Capital’s payout ratio is 51.37%.

Hedge Funds Weigh In On Main Street Capital

Several hedge funds have recently added to or reduced their stakes in the stock. US Bancorp DE lifted its stake in Main Street Capital by 8.4% in the fourth quarter. US Bancorp DE now owns 2,579 shares of the financial services provider’s stock valued at $151,000 after buying an additional 200 shares during the period. Widmann Financial Services Inc. lifted its stake in Main Street Capital by 0.9% in the third quarter. Widmann Financial Services Inc. now owns 22,990 shares of the financial services provider’s stock valued at $1,153,000 after buying an additional 202 shares during the period. IHT Wealth Management LLC lifted its stake in Main Street Capital by 0.3% in the third quarter. IHT Wealth Management LLC now owns 63,628 shares of the financial services provider’s stock valued at $3,190,000 after buying an additional 218 shares during the period. PFG Investments LLC lifted its stake in Main Street Capital by 1.6% in the fourth quarter. PFG Investments LLC now owns 13,642 shares of the financial services provider’s stock valued at $799,000 after buying an additional 219 shares during the period. Finally, Harbour Investments Inc. lifted its stake in Main Street Capital by 6.9% in the fourth quarter. Harbour Investments Inc. now owns 3,512 shares of the financial services provider’s stock valued at $206,000 after buying an additional 228 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.