Cullen Frost Bankers Inc. Grows Position in 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% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,618 shares of the financial services provider’s stock after purchasing an additional 618 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Main Street Capital were worth $271,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in MAIN. Asset Planning Inc purchased a new stake in Main Street Capital in the fourth quarter worth $29,000. Truvestments Capital LLC purchased a new stake in Main Street Capital in the third quarter worth $39,000. Prospera Private Wealth LLC purchased a new stake in Main Street Capital in the third quarter worth $50,000. Wilmington Savings Fund Society FSB purchased a new stake in Main Street Capital in the third quarter worth $50,000. Finally, AdvisorNet Financial Inc lifted its stake in Main Street Capital by 145.8% in the fourth quarter. AdvisorNet Financial Inc now owns 1,229 shares of the financial services provider’s stock worth $72,000 after acquiring an additional 729 shares during the period. Hedge funds and other institutional investors own 20.31% of the company’s stock.

Main Street Capital Price Performance

MAIN opened at $58.68 on Friday. The stock has a fifty day simple moving average of $60.15 and a two-hundred day simple moving average of $54.91. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.13. The company has a market cap of $5.20 billion, a price-to-earnings ratio of 10.63 and a beta of 1.26. Main Street Capital Co. has a 12-month low of $45.00 and a 12-month high of $63.32.

Main Street Capital (NYSE:MAIN) last posted its quarterly earnings data on Thursday, February 27th. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.06). Main Street Capital had a return on equity of 13.83% and a net margin of 89.25%. The firm had revenue of $140.44 million during the quarter, compared to the consensus estimate of $141.40 million. Research analysts predict that Main Street Capital Co. will post 4.11 earnings per share for the current fiscal year.

Main Street Capital Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MAIN. B. Riley raised their price target on Main Street Capital from $49.00 to $51.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. Truist Financial increased their price objective on Main Street Capital from $52.00 to $62.00 and gave the stock a “hold” rating in a 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.