Portman Ridge Finance Corp Plans Quarterly Dividend of $0.32 (NASDAQ:BCIC)

Portman Ridge Finance Corp (NASDAQ:BCIC) announced a quarterly dividend on Thursday, March 5th. Stockholders of record on Monday, March 16th will be paid a dividend of 0.32 per share on Friday, March 27th. This represents a c) annualized dividend and a dividend yield of 15.2%. The ex-dividend date of this dividend is Monday, March 16th.

Portman Ridge Finance Trading Down 1.2%

Shares of Portman Ridge Finance stock opened at $8.43 on Friday. The stock has a market cap of $104.45 million, a PE ratio of 14.79 and a beta of 0.39. Portman Ridge Finance has a 52-week low of $8.39 and a 52-week high of $16.42. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 1.47.

Analyst Ratings Changes

A number of equities research analysts have weighed in on BCIC shares. Keefe, Bruyette & Woods lowered their price objective on Portman Ridge Finance from $14.00 to $9.00 and set a “market perform” rating on the stock in a report on Tuesday. Wall Street Zen cut Portman Ridge Finance from a “buy” rating to a “sell” rating in a report on Tuesday. Zacks Research downgraded Portman Ridge Finance from a “hold” rating to a “strong sell” rating in a research note on Wednesday. Weiss Ratings lowered Portman Ridge Finance from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, February 23rd. Finally, LADENBURG THALM/SH SH cut Portman Ridge Finance from a “buy” rating to a “neutral” rating in a research report on Monday, March 9th. Two research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $9.00.

Portman Ridge Finance Company Profile

Portman Ridge Finance Corporation is a business development company specializing in investments in unitranche loans (including last out), first lien loans, second lien loans, subordinated debt, equity co-investment, buyout in middle market companies. It also makes acquisitions in businesses complementary to the firm’s business. It primarily invests in healthcare, cargo transport, manufacturing, industrial & environmental services, logistics & distribution, media & telecommunications, real estate, education, automotive, agriculture, aerospace/defense, packaging, electronics, finance, non-durable consumer, consumer products, business services, utilities, insurance, and food and beverage sectors.