Cullen Frost Bankers Inc. Sells 1,420 Shares of Main Street Capital Corporation $MAIN

Cullen Frost Bankers Inc. cut its position in Main Street Capital Corporation (NYSE:MAIN) by 26.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,000 shares of the financial services provider’s stock after selling 1,420 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Main Street Capital were worth $236,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Financial Network Wealth Advisors LLC bought a new position in Main Street Capital in the first quarter worth about $39,000. Spire Wealth Management bought a new position in Main Street Capital in the first quarter worth about $40,000. Wellington Shields & Co. LLC bought a new position in Main Street Capital in the first quarter worth about $41,000. Quarry LP bought a new position in Main Street Capital in the first quarter worth about $48,000. Finally, Wealth Preservation Advisors LLC bought a new position in Main Street Capital in the first quarter worth about $58,000. 20.31% of the stock is currently owned by institutional investors.

Main Street Capital Price Performance

Shares of MAIN stock opened at $57.54 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.09 and a current ratio of 0.09. Main Street Capital Corporation has a fifty-two week low of $47.00 and a fifty-two week high of $67.77. The firm has a market capitalization of $5.15 billion, a price-to-earnings ratio of 9.48 and a beta of 0.87. The stock’s 50-day simple moving average is $63.07 and its 200-day simple moving average is $60.01.

Main Street Capital (NYSE:MAIN) last released its earnings results on Thursday, August 7th. The financial services provider reported $0.99 EPS for the quarter, hitting 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 during the quarter, compared to the consensus estimate of $137.23 million. As a group, equities analysts forecast that Main Street Capital Corporation will post 4.11 earnings per share for the current fiscal year.

Main Street Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, October 8th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, October 8th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.1%. Main Street Capital’s payout ratio is 50.41%.

Insider Activity at Main Street Capital

In related news, Director Nicholas Meserve sold 14,000 shares of Main Street Capital stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $67.15, for a total transaction of $940,100.00. Following the completion of the sale, the director owned 82,383 shares of the company’s stock, valued at $5,532,018.45. The trade was a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wall Street Zen upgraded shares of Main Street Capital from a “sell” rating to a “hold” rating in a report on Sunday, August 3rd. Royal Bank Of Canada boosted their target price on shares of Main Street Capital from $52.00 to $67.00 and gave the stock an “outperform” rating in a report on Thursday, August 28th. UBS Group restated a “neutral” rating and set a $58.00 price target (up previously from $56.00) on shares of Main Street Capital in a research note on Wednesday, July 16th. Truist Financial dropped their price target on Main Street Capital from $64.00 to $60.00 and set a “hold” rating on the stock in a research note on Wednesday, October 15th. Finally, Zacks Research lowered Main Street Capital from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 10th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $60.40.

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.