Bain Capital Specialty Finance (NYSE:BCSF) Sets New 12-Month High After Dividend Announcement

Bain Capital Specialty Finance, Inc. (NYSE:BCSF) hit a new 52-week high during mid-day trading on Tuesday following a dividend announcement from the company. The stock traded as high as $19.21 and last traded at $18.57, with a volume of 586641 shares traded. The stock had previously closed at $19.07.

The newly announced dividend which will be paid on Tuesday, December 30th. Investors of record on Tuesday, December 16th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $0.12 annualized dividend and a dividend yield of 0.68%. Bain Capital Specialty Finance’s dividend payout ratio is presently 90.81%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on BCSF shares. Wells Fargo & Company raised their target price on Bain Capital Specialty Finance from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Monday. Keefe, Bruyette & Woods boosted their target price on shares of Bain Capital Specialty Finance from $17.00 to $18.00 and gave the stock a “market perform” rating in a research report on Tuesday.

Bain Capital Specialty Finance Price Performance

The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 8.87 and a beta of 1.10. The stock’s 50-day moving average price is $17.90 and its 200 day moving average price is $17.23. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 1.13.

Bain Capital Specialty Finance (NYSE:BCSF) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. Bain Capital Specialty Finance had a return on equity of 11.90% and a net margin of 43.62%. The company had revenue of $73.30 million during the quarter, compared to the consensus estimate of $67.50 million. Equities research analysts predict that Bain Capital Specialty Finance, Inc. will post 2.06 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in shares of Bain Capital Specialty Finance by 47.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 224,528 shares of the company’s stock valued at $3,727,000 after buying an additional 71,806 shares in the last quarter. Franklin Resources Inc. increased its stake in Bain Capital Specialty Finance by 14.6% in the third quarter. Franklin Resources Inc. now owns 287,890 shares of the company’s stock valued at $4,779,000 after acquiring an additional 36,585 shares during the period. First National Trust Co raised its position in Bain Capital Specialty Finance by 189.6% in the third quarter. First National Trust Co now owns 91,690 shares of the company’s stock worth $1,522,000 after purchasing an additional 60,024 shares in the last quarter. Jane Street Group LLC lifted its stake in Bain Capital Specialty Finance by 136.2% during the third quarter. Jane Street Group LLC now owns 24,092 shares of the company’s stock worth $400,000 after purchasing an additional 13,892 shares during the period. Finally, Columbus Macro LLC acquired a new stake in Bain Capital Specialty Finance during the fourth quarter valued at approximately $5,544,000.

Bain Capital Specialty Finance Company Profile

Bain Capital Specialty Finance, Inc is business development company specializing in direct loans to middle-market companies. The fund seeks to invest in senior investments with a first or second lien on collateral, senior first lien, stretch senior, senior second lien, unitranche, mezzanine debt, junior securities, other junior investments, and secondary purchases of assets or portfolios that primarily consist of middle-market corporate debt.