Keefe, Bruyette & Woods reissued their hold rating on shares of FS Investment Corporation (NYSE:FSIC) in a report published on Tuesday, July 25th. The brokerage currently has a $10.00 target price on the financial services provider’s stock.
A number of other research analysts have also recently issued reports on the stock. Zacks Investment Research raised shares of FS Investment Corporation from a sell rating to a buy rating and set a $11.00 price objective on the stock in a research note on Wednesday, May 3rd. BidaskClub cut shares of FS Investment Corporation from a hold rating to a sell rating in a research note on Monday, July 17th. National Securities reaffirmed a neutral rating and set a $10.00 target price on shares of FS Investment Corporation in a research note on Monday, May 15th. Finally, TheStreet raised shares of FS Investment Corporation from a c rating to a b rating in a research note on Monday, April 17th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. FS Investment Corporation currently has a consensus rating of Hold and a consensus target price of $9.83.
FS Investment Corporation (NYSE:FSIC) remained flat at $8.40 during midday trading on Tuesday. 1,511,821 shares of the company traded hands. FS Investment Corporation has a 1-year low of $8.30 and a 1-year high of $10.80. The firm’s 50-day moving average price is $9.03 and its 200 day moving average price is $9.59.
FS Investment Corporation (NYSE:FSIC) last released its quarterly earnings results on Wednesday, August 9th. The financial services provider reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by $0.01. FS Investment Corporation had a net margin of 59.88% and a return on equity of 8.92%. The business had revenue of $98.70 million during the quarter, compared to analyst estimates of $103.14 million. Analysts expect that FS Investment Corporation will post $0.78 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Wednesday, September 20th will be issued a dividend of $0.2228 per share. The ex-dividend date is Tuesday, September 19th. This represents a $0.89 annualized dividend and a dividend yield of 10.61%. FS Investment Corporation’s dividend payout ratio is currently 87.26%.
In other news, Director David J. Adelman acquired 11,160 shares of FS Investment Corporation stock in a transaction on Thursday, June 22nd. The stock was acquired at an average cost of $8.88 per share, with a total value of $99,100.80. Following the transaction, the director now owns 34,063 shares of the company’s stock, valued at approximately $302,479.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael C. Forman acquired 22,320 shares of FS Investment Corporation stock in a transaction on Thursday, June 22nd. The stock was purchased at an average cost of $8.88 per share, with a total value of $198,201.60. The disclosure for this purchase can be found here. Insiders have bought 55,980 shares of company stock worth $489,371 in the last quarter. Company insiders own 1.00% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisory Services Network LLC bought a new position in FS Investment Corporation during the first quarter worth $110,000. BDO Wealth Advisors LLC bought a new position in FS Investment Corporation during the second quarter worth $103,000. Wayne Hummer Investments L.L.C. bought a new position in FS Investment Corporation during the first quarter worth $112,000. BLB&B Advisors LLC bought a new position in FS Investment Corporation during the first quarter worth $113,000. Finally, JPMorgan Chase & Co. bought a new position in FS Investment Corporation during the first quarter worth $122,000. 31.84% of the stock is owned by hedge funds and other institutional investors.
FS Investment Corporation Company Profile
FS Investment Corporation is an externally managed, non-diversified, closed-end management investment company. The Company’s investment objectives are to generate current income and long-term capital appreciation. Its portfolio consists primarily of investments in senior secured loans and second lien secured loans of the private United States middle market companies and subordinated loans of the private United States companies.
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