Bain Capital Specialty Finance (NYSE:BCSF) Reaches New 1-Year High After Dividend Announcement

Shares of Bain Capital Specialty Finance, Inc. (NYSE:BCSF) hit a new 52-week high during 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 changing hands. The stock had previously closed at $19.07.

The newly announced dividend which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 16th will be paid a $0.03 dividend. The ex-dividend date is Tuesday, December 16th. This represents a $0.12 annualized dividend and a dividend yield of 0.65%. Bain Capital Specialty Finance’s dividend payout ratio (DPR) is presently 90.81%.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company lifted their price target on shares of Bain Capital Specialty Finance from $18.00 to $19.00 and gave the stock an “overweight” rating in a research note on Monday.

Bain Capital Specialty Finance Trading Down 2.6 %

The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 1.13. The business has a 50 day simple moving average of $17.89 and a two-hundred day simple moving average of $17.21. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of 9.33 and a beta of 1.10.

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

Institutional Investors Weigh In On Bain Capital Specialty Finance

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Mascoma Wealth Management LLC bought a new position in shares of Bain Capital Specialty Finance during the fourth quarter worth about $29,000. Aquatic Capital Management LLC bought a new position in Bain Capital Specialty Finance during the 4th quarter worth approximately $67,000. Quantbot Technologies LP acquired a new position in shares of Bain Capital Specialty Finance in the 3rd quarter worth approximately $136,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Bain Capital Specialty Finance in the 4th quarter worth approximately $151,000. Finally, Lazard Asset Management LLC increased its holdings in shares of Bain Capital Specialty Finance by 14.5% in the 4th quarter. Lazard Asset Management LLC now owns 9,361 shares of the company’s stock valued at $164,000 after acquiring an additional 1,189 shares during the last quarter.

About Bain Capital Specialty Finance

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.