Portman Ridge Finance Corp (NASDAQ:BCIC) Shares Will Pay Monthly Dividend of $0.09

Portman Ridge Finance Corp (NASDAQ:BCIC) declared a monthly dividend on Wednesday, November 11th. Shareholders of record on Tuesday, February 16th will be paid a dividend of $0.09 per share on Tuesday, March 2nd. This represents a $1.08 annualized dividend and a yield of 16.4%. The ex-dividend date is Tuesday, February 16th.

Portman Ridge Finance Trading Down 4.6%

Shares of Portman Ridge Finance stock opened at $6.57 on Thursday. Portman Ridge Finance has a fifty-two week low of $5.78 and a fifty-two week high of $13.50. The firm has a market cap of $81.34 million, a PE ratio of -11.95 and a beta of 0.55. The business’s fifty day moving average is $6.69 and its two-hundred day moving average is $7.97. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 1.56.

Analyst Ratings Changes

A number of brokerages have recently commented on BCIC. Oppenheimer lowered their price objective on Portman Ridge Finance from $12.00 to $11.00 and set a “market perform” rating for the company in a research report on Monday, August 10th. Weiss Ratings upgraded Portman Ridge Finance from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, October 28th. Zacks Research upgraded Portman Ridge Finance from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 3rd. Finally, Keefe, Bruyette & Woods decreased their price target on Portman Ridge Finance from $9.00 to $7.50 and set a “market perform” rating on the stock in a research note on Monday, August 10th. Four analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Portman Ridge Finance currently has an average rating of “Reduce” and a consensus target price of $9.25.

Portman Ridge Finance Company Profile

Portman Ridge Finance Corporation is a business development company that provides financing to privately owned, primarily middle-market companies in the United States. The company invests across the capital structure, with a focus on senior secured loans, subordinated debt and, in some cases, equity securities. Through its investment portfolio, Portman Ridge seeks to support companies with acquisition financing, recapitalizations, refinancing and general corporate funding. Its investments may include first-lien and second-lien loans, unitranche facilities and other structured credit instruments.