Bain Capital Specialty Finance (NYSE:BCSF) Sets New 52-Week High After Dividend Announcement

Shares of Bain Capital Specialty Finance, Inc. (NYSE:BCSF) hit a new 52-week high 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. Stockholders of record on Tuesday, December 16th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.68%. Bain Capital Specialty Finance’s dividend payout ratio is 90.81%.

Wall Street Analysts Forecast Growth

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

Bain Capital Specialty Finance Trading Down 1.7 %

The business has a 50-day moving average of $17.90 and a 200-day moving average of $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. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 8.87 and a beta of 1.10.

Bain Capital Specialty Finance (NYSE:BCSF) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $73.30 million during the quarter, compared to analyst estimates of $67.50 million. As a group, research analysts forecast that Bain Capital Specialty Finance, Inc. will post 2.06 earnings per share for the current year.

Institutional Trading of Bain Capital Specialty Finance

Several large investors have recently added to or reduced their stakes in BCSF. Cresset Asset Management LLC bought a new position in shares of Bain Capital Specialty Finance during the 4th quarter valued at $25,006,000. Starr Indemnity & Liability Co bought a new position in Bain Capital Specialty Finance during the fourth quarter valued at about $10,477,000. Lake Street Advisors Group LLC acquired a new stake in shares of Bain Capital Specialty Finance in the fourth quarter worth about $6,886,000. Cetera Investment Advisers bought a new stake in shares of Bain Capital Specialty Finance during the 4th quarter worth about $5,560,000. Finally, Columbus Macro LLC acquired a new position in shares of Bain Capital Specialty Finance during the 4th quarter valued at about $5,544,000.

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.