PNC Financial Services Group Inc. Buys 2,264 Shares of Main Street Capital Co. (NYSE:MAIN)

PNC Financial Services Group Inc. boosted its stake in shares of Main Street Capital Co. (NYSE:MAIN) by 23.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,974 shares of the financial services provider’s stock after purchasing an additional 2,264 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Main Street Capital were worth $701,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. US Bancorp DE boosted its position in shares of Main Street Capital by 8.4% in the fourth quarter. US Bancorp DE now owns 2,579 shares of the financial services provider’s stock valued at $151,000 after acquiring an additional 200 shares during the period. Widmann Financial Services Inc. boosted its position in shares of Main Street Capital by 0.9% in the third quarter. Widmann Financial Services Inc. now owns 22,990 shares of the financial services provider’s stock valued at $1,153,000 after acquiring an additional 202 shares during the period. IHT Wealth Management LLC boosted its position in shares of Main Street Capital by 0.3% in the third quarter. IHT Wealth Management LLC now owns 63,628 shares of the financial services provider’s stock valued at $3,190,000 after acquiring an additional 218 shares during the period. PFG Investments LLC boosted its position in shares of Main Street Capital by 1.6% in the fourth quarter. PFG Investments LLC now owns 13,642 shares of the financial services provider’s stock valued at $799,000 after acquiring an additional 219 shares during the period. Finally, Sunbelt Securities Inc. boosted its position in shares of Main Street Capital by 7.0% in the third quarter. Sunbelt Securities Inc. now owns 3,509 shares of the financial services provider’s stock valued at $176,000 after acquiring an additional 229 shares during the period. Institutional investors own 20.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Truist Financial lifted their price target on shares of Main Street Capital from $52.00 to $62.00 and gave the stock a “hold” rating in a research note on Monday, March 3rd.

Main Street Capital Stock Up 0.8 %

MAIN opened at $57.62 on Wednesday. Main Street Capital Co. has a fifty-two week low of $45.00 and a fifty-two week 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 fifty day moving average price is $59.81 and its two-hundred day moving average price is $55.30. The company has a market capitalization of $5.10 billion, a P/E ratio of 10.44 and a beta of 1.26.

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

Main Street Capital Increases Dividend

The business also recently disclosed a dividend, which will be paid on Thursday, March 27th. Shareholders of record on Friday, March 21st will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, March 20th. This is a boost from Main Street Capital’s previous dividend of $0.25. This represents a dividend yield of 7.24%. Main Street Capital’s dividend payout ratio (DPR) is presently 51.37%.

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.