Cullen Frost Bankers Inc. Buys 618 Shares of Main Street Capital Co. (NYSE:MAIN)

Cullen Frost Bankers Inc. grew its stake in shares of Main Street Capital Co. (NYSE:MAIN) by 15.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,618 shares of the financial services provider’s stock after buying an additional 618 shares during the period. Cullen Frost Bankers Inc.’s holdings in Main Street Capital were worth $271,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of MAIN. Benjamin Edwards Inc. increased its position in shares of Main Street Capital by 971.3% during the third quarter. Benjamin Edwards Inc. now owns 141,165 shares of the financial services provider’s stock valued at $7,078,000 after buying an additional 127,988 shares during the period. Morgan Dempsey Capital Management LLC bought a new position in shares of Main Street Capital in the fourth quarter worth approximately $6,007,000. Van ECK Associates Corp increased its position in shares of Main Street Capital by 7.8% in the fourth quarter. Van ECK Associates Corp now owns 1,288,309 shares of the financial services provider’s stock worth $75,469,000 after purchasing an additional 92,833 shares during the last quarter. Strategic Financial Concepts LLC bought a new position in shares of Main Street Capital in the fourth quarter worth approximately $2,626,000. Finally, Atom Investors LP bought a new position in shares of Main Street Capital in the third quarter worth approximately $2,233,000. 20.31% of the stock is currently owned by institutional investors.

Main Street Capital Stock Up 3.1 %

Shares of NYSE MAIN opened at $58.68 on Friday. Main Street Capital Co. has a one year low of $45.00 and a one year high of $63.32. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.08 and a quick ratio of 0.08. The firm’s 50 day simple moving average is $60.15 and its two-hundred day simple moving average is $54.91. The stock has a market capitalization of $5.20 billion, a P/E ratio of 10.63 and a beta of 1.26.

Main Street Capital (NYSE:MAIN) last issued its quarterly earnings results on Thursday, February 27th. The financial services provider reported $1.02 EPS 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 business had revenue of $140.44 million for the quarter, compared to the consensus estimate of $141.40 million. As a group, analysts expect that Main Street Capital Co. will post 4.11 EPS for the current fiscal year.

Main Street Capital Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, June 6th will be given a dividend of $0.25 per share. This represents a $3.00 dividend on an annualized basis and a yield of 5.11%. The ex-dividend date of this dividend is Friday, June 6th. Main Street Capital’s payout ratio is currently 51.37%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. B. Riley upped their price objective on shares of Main Street Capital from $49.00 to $51.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. Truist Financial upped their price objective on shares of Main Street Capital from $52.00 to $62.00 and gave the stock a “hold” rating in a research report on Monday, March 3rd.

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.