Cullen Frost Bankers Inc. Cuts Stock Position in Main Street Capital Corporation $MAIN

Cullen Frost Bankers Inc. cut its holdings in Main Street Capital Corporation (NYSE:MAIN) by 26.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,000 shares of the financial services provider’s stock after selling 1,420 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Main Street Capital were worth $236,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nations Financial Group Inc. IA ADV lifted its position in Main Street Capital by 2.4% in the first quarter. Nations Financial Group Inc. IA ADV now owns 9,520 shares of the financial services provider’s stock worth $538,000 after buying an additional 221 shares during the last quarter. Uncommon Cents Investing LLC lifted its position in Main Street Capital by 1.4% in the second quarter. Uncommon Cents Investing LLC now owns 16,437 shares of the financial services provider’s stock worth $971,000 after buying an additional 231 shares during the last quarter. Sigma Planning Corp lifted its position in Main Street Capital by 0.5% in the first quarter. Sigma Planning Corp now owns 44,942 shares of the financial services provider’s stock worth $2,542,000 after buying an additional 236 shares during the last quarter. US Bancorp DE lifted its position in Main Street Capital by 9.4% in the first quarter. US Bancorp DE now owns 2,822 shares of the financial services provider’s stock worth $160,000 after buying an additional 243 shares during the last quarter. Finally, Erste Asset Management GmbH lifted its position in Main Street Capital by 8.4% in the first quarter. Erste Asset Management GmbH now owns 3,283 shares of the financial services provider’s stock worth $186,000 after buying an additional 255 shares during the last quarter. 20.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on MAIN shares. B. Riley lifted their target price on Main Street Capital from $60.00 to $64.00 and gave the stock a “neutral” rating in a research report on Monday, August 18th. UBS Group reiterated a “neutral” rating and set a $58.00 target price (up from $56.00) on shares of Main Street Capital in a research report on Wednesday, July 16th. Weiss Ratings reiterated a “buy (b+)” rating on shares of Main Street Capital in a research report on Tuesday, October 14th. Zacks Research downgraded Main Street Capital from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 10th. Finally, Wall Street Zen upgraded Main Street Capital from a “sell” rating to a “hold” rating in a research report on Sunday, August 3rd. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $60.40.

Main Street Capital Stock Performance

Shares of Main Street Capital stock opened at $57.54 on Friday. The firm has a market cap of $5.15 billion, a P/E ratio of 9.48 and a beta of 0.87. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.12. Main Street Capital Corporation has a 12 month low of $47.00 and a 12 month high of $67.77. The stock’s fifty day moving average price is $63.07 and its 200-day moving average price is $60.01.

Main Street Capital (NYSE:MAIN) last announced its quarterly earnings results on Thursday, August 7th. The financial services provider reported $0.99 EPS for the quarter, meeting the consensus estimate of $0.99. The firm had revenue of $143.97 million for the quarter, compared to analyst estimates of $137.23 million. Main Street Capital had a return on equity of 12.70% and a net margin of 96.16%. On average, equities research analysts expect that Main Street Capital Corporation will post 4.11 earnings per share for the current fiscal year.

Main Street Capital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 8th were paid a dividend of $0.30 per share. The ex-dividend date was Wednesday, October 8th. This represents a $1.20 annualized dividend and a dividend yield of 2.1%. Main Street Capital’s dividend payout ratio (DPR) is currently 50.41%.

Insider Activity at Main Street Capital

In other news, Director Nicholas Meserve sold 14,000 shares of the firm’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $67.15, for a total transaction of $940,100.00. Following the transaction, the director owned 82,383 shares in the company, valued at approximately $5,532,018.45. This trade represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 4.00% of the company’s stock.

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.