Main Street Capital (NYSE:MAIN) Upgraded to “Hold” at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Main Street Capital (NYSE:MAIN) to a hold rating in a research report report published on Friday,Zacks.com reports.

Several other brokerages have also recently commented on MAIN. Weiss Ratings cut shares of Main Street Capital from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Truist Financial reduced their target price on shares of Main Street Capital from $60.00 to $53.00 and set a “hold” rating for the company in a report on Tuesday. Citizens Jmp cut their price target on shares of Main Street Capital from $74.00 to $70.00 and set a “market outperform” rating for the company in a research note on Wednesday, April 22nd. Citigroup reiterated an “outperform” rating on shares of Main Street Capital in a research note on Tuesday, January 27th. Finally, Wall Street Zen cut shares of Main Street Capital from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Four investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, Main Street Capital has a consensus rating of “Hold” and a consensus target price of $59.14.

Main Street Capital Stock Performance

Shares of MAIN opened at $49.59 on Friday. Main Street Capital has a 12 month low of $48.95 and a 12 month high of $67.77. The firm has a fifty day simple moving average of $53.77 and a 200 day simple moving average of $57.82. The stock has a market capitalization of $4.61 billion, a price-to-earnings ratio of 10.44 and a beta of 0.76. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.11.

Main Street Capital (NYSE:MAIN) last announced its earnings results on Thursday, May 7th. The financial services provider reported $0.93 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.11). Main Street Capital had a return on equity of 12.01% and a net margin of 74.86%.The business had revenue of $73.44 million for the quarter, compared to analyst estimates of $145.23 million. Research analysts forecast that Main Street Capital will post 3.96 EPS for the current fiscal year.

Main Street Capital Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 8th will be paid a $0.265 dividend. The ex-dividend date is Tuesday, September 8th. This represents a c) dividend on an annualized basis and a yield of 6.4%. Main Street Capital’s dividend payout ratio (DPR) is currently 65.68%.

Institutional Trading of Main Street Capital

A number of large investors have recently added to or reduced their stakes in the company. Segall Bryant & Hamill LLC acquired a new stake in Main Street Capital in the first quarter valued at $395,000. Compass Capital Management Inc. bought a new position in shares of Main Street Capital in the first quarter valued at about $335,000. Vestor Capital LLC raised its position in shares of Main Street Capital by 3,675.4% in the first quarter. Vestor Capital LLC now owns 48,400 shares of the financial services provider’s stock valued at $2,563,000 after purchasing an additional 47,118 shares during the period. Arete Wealth Advisors LLC raised its position in shares of Main Street Capital by 6.0% in the first quarter. Arete Wealth Advisors LLC now owns 21,664 shares of the financial services provider’s stock valued at $1,147,000 after purchasing an additional 1,233 shares during the period. Finally, Western Wealth Management LLC bought a new position in shares of Main Street Capital in the first quarter valued at about $139,000. Institutional investors and hedge funds own 20.31% of the company’s stock.

About Main Street Capital

Main Street Capital Corporation (NYSE: MAIN) is a publicly traded business development company that provides flexible debt and equity capital to lower middle market companies in the United States. Headquartered in Houston, Texas, Main Street Capital was formed in 2007 and operates under the Investment Company Act of 1940. The firm’s management services are provided by Main Street Capital Management, L.P., which focuses on identifying growing private companies with enterprise values typically between $10 million and $150 million.

Main Street Capital’s primary offerings include first-lien senior secured loans, second-lien loans, subordinated debt, and equity co-investments or minority equity positions.