Royal Bank of Canada Raises Main Street Capital (NYSE:MAIN) Price Target to $52.00

Main Street Capital (NYSE:MAIN) had its target price boosted by Royal Bank of Canada from $48.00 to $52.00 in a research note issued to investors on Tuesday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the financial services provider’s stock.

A number of other analysts have also recently commented on the stock. Truist Financial boosted their target price on shares of Main Street Capital from $43.00 to $45.00 and gave the company a hold rating in a report on Monday, February 26th. Oppenheimer raised their target price on shares of Main Street Capital from $41.00 to $43.00 and gave the company a market perform rating in a research note on Monday, February 26th. B. Riley cut Main Street Capital from a buy rating to a neutral rating and set a $47.00 price target on the stock. in a research report on Monday, January 8th. Finally, UBS Group raised their price objective on Main Street Capital from $43.00 to $45.00 and gave the company a neutral rating in a research report on Friday, March 1st. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $46.17.

Main Street Capital Trading Up 1.0 %

MAIN stock traded up $0.48 during trading on Tuesday, reaching $50.37. The company had a trading volume of 311,680 shares, compared to its average volume of 349,622. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.09 and a quick ratio of 0.09. Main Street Capital has a 52 week low of $37.70 and a 52 week high of $50.52. The business has a 50 day moving average of $47.07 and a 200 day moving average of $44.14. The company has a market cap of $4.28 billion, a P/E ratio of 9.65 and a beta of 1.25.

Main Street Capital (NYSE:MAIN) last announced its earnings results on Thursday, February 22nd. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.06. Main Street Capital had a return on equity of 14.99% and a net margin of 85.62%. The firm had revenue of $129.31 million during the quarter, compared to analyst estimates of $125.52 million. As a group, sell-side analysts forecast that Main Street Capital will post 4.07 earnings per share for the current fiscal year.

Main Street Capital Increases Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 20th were given a $0.30 dividend. The ex-dividend date was Tuesday, March 19th. This is a boost from Main Street Capital’s previous dividend of $0.24. This represents a yield of 8.37%. Main Street Capital’s dividend payout ratio is 55.17%.

Institutional Investors Weigh In On Main Street Capital

Several institutional investors have recently modified their holdings of the business. LifeSteps Financial Inc. bought a new position in Main Street Capital in the first quarter valued at about $35,000. Nomura Asset Management Co. Ltd. lifted its stake in shares of Main Street Capital by 73.6% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,139 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 483 shares during the period. Signaturefd LLC boosted its holdings in shares of Main Street Capital by 157.9% in the third quarter. Signaturefd LLC now owns 1,220 shares of the financial services provider’s stock worth $50,000 after buying an additional 747 shares during the last quarter. Scarborough Advisors LLC bought a new stake in Main Street Capital during the fourth quarter valued at approximately $72,000. Finally, Newbridge Financial Services Group Inc. increased its holdings in Main Street Capital by 32.0% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 1,733 shares of the financial services provider’s stock valued at $75,000 after buying an additional 420 shares during the last quarter. 20.31% of the stock is owned by hedge funds and other institutional investors.

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.