Bank of America Corp DE Sells 91,957 Shares of Main Street Capital Co. (NYSE:MAIN)

Bank of America Corp DE lowered its position in shares of Main Street Capital Co. (NYSE:MAIN - Free Report) by 49.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 95,817 shares of the financial services provider's stock after selling 91,957 shares during the quarter. Bank of America Corp DE owned about 0.11% of Main Street Capital worth $5,613,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of MAIN. Barclays PLC lifted its holdings in shares of Main Street Capital by 75.6% during the third quarter. Barclays PLC now owns 72,265 shares of the financial services provider's stock worth $3,624,000 after buying an additional 31,110 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in Main Street Capital by 2.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 20,670 shares of the financial services provider's stock valued at $1,211,000 after purchasing an additional 494 shares in the last quarter. Brighton Jones LLC acquired a new position in Main Street Capital in the fourth quarter valued at about $304,000. Geneos Wealth Management Inc. raised its stake in Main Street Capital by 37.6% in the fourth quarter. Geneos Wealth Management Inc. now owns 1,831 shares of the financial services provider's stock valued at $107,000 after purchasing an additional 500 shares in the last quarter. Finally, PFG Investments LLC raised its stake in 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 purchasing an additional 219 shares in the last quarter. Institutional investors and hedge funds own 20.31% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. UBS Group dropped their price target on Main Street Capital from $55.00 to $54.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. Truist Financial dropped their price target on Main Street Capital from $62.00 to $54.00 and set a "hold" rating for the company in a research note on Monday, May 12th. Oppenheimer reissued a "market perform" rating on shares of Main Street Capital in a research note on Tuesday, May 13th. Finally, Wall Street Zen downgraded Main Street Capital from a "hold" rating to a "sell" rating in a research note on Saturday. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, Main Street Capital currently has a consensus rating of "Hold" and an average target price of $52.80.

Insider Activity at Main Street Capital

In related news, insider David L. Magdol sold 100,000 shares of the company's stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $58.05, for a total value of $5,805,000.00. Following the sale, the insider now directly owns 377,182 shares in the company, valued at $21,895,415.10. This represents a 20.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Dwayne L. Hyzak sold 120,000 shares of the stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $58.05, for a total value of $6,966,000.00. Following the transaction, the chief executive officer now owns 402,371 shares in the company, valued at $23,357,636.55. The trade was a 22.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by company insiders.

Main Street Capital Trading Up 0.5%

Shares of Main Street Capital stock traded up $0.27 on Friday, hitting $56.94. The stock had a trading volume of 345,238 shares, compared to its average volume of 466,357. The stock has a 50 day moving average of $54.17 and a 200 day moving average of $56.73. Main Street Capital Co. has a twelve month low of $45.00 and a twelve month high of $63.32. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.08 and a current ratio of 0.08. The firm has a market capitalization of $5.07 billion, a P/E ratio of 10.31 and a beta of 0.86.

Main Street Capital (NYSE:MAIN - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.01. Main Street Capital had a return on equity of 13.83% and a net margin of 89.25%. The company had revenue of $137.05 million during the quarter, compared to the consensus estimate of $137.50 million. Sell-side analysts expect that Main Street Capital Co. will post 4.11 earnings per share for the current fiscal year.

Main Street Capital Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be issued a $0.255 dividend. The ex-dividend date is Monday, September 8th. This is a boost from Main Street Capital's previous monthly dividend of $0.25. This represents a $3.06 annualized dividend and a yield of 5.37%. Main Street Capital's dividend payout ratio is presently 50.93%.

Main Street Capital Company Profile

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.