FS Investment Co. (NYSE:FSIC) announced a quarterly dividend on Thursday, November 8th, Wall Street Journal reports. Shareholders of record on Wednesday, December 12th will be paid a dividend of 0.19 per share by the financial services provider on Wednesday, January 2nd. This represents a $0.76 annualized dividend and a yield of 11.53%. The ex-dividend date is Tuesday, December 11th.
FS Investment has increased its dividend by an average of 3.2% per year over the last three years and has increased its dividend annually for the last 2 consecutive years. FS Investment has a payout ratio of 97.4% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect FS Investment to earn $0.78 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 97.4%.
Shares of NYSE FSIC opened at $6.59 on Friday. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of 7.94, a PEG ratio of 2.84 and a beta of 0.96. FS Investment has a 1 year low of $6.22 and a 1 year high of $8.30.
An institutional investor recently raised its position in FS Investment stock. Bank of New York Mellon Corp grew its stake in shares of FS Investment Co. (NYSE:FSIC) by 206.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 155,778 shares of the financial services provider’s stock after acquiring an additional 104,984 shares during the period. Bank of New York Mellon Corp owned about 0.07% of FS Investment worth $1,145,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 29.11% of the company’s stock.
FSIC has been the subject of several analyst reports. National Securities reissued a “buy” rating and issued a $11.00 price objective on shares of FS Investment in a research note on Monday, August 13th. Zacks Investment Research raised shares of FS Investment from a “hold” rating to a “buy” rating and set a $7.75 price objective for the company in a research note on Wednesday, October 10th. ValuEngine downgraded shares of FS Investment from a “sell” rating to a “strong sell” rating in a research note on Tuesday, September 18th. Wells Fargo & Co downgraded shares of FS Investment from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 4th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $8.00 price objective on shares of FS Investment in a research note on Friday, August 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. FS Investment has a consensus rating of “Hold” and a consensus target price of $8.92.
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FS Investment Company Profile
FS Investment Corporation is a business development company specializing in investments in debt securities. It seeks to purchase interests in loans through secondary market transactions or directly from the target companies as primary market investments. It also seeks to invest in first lien senior secured loans, second lien secured loans and, to a lesser extent, subordinated loans, or mezzanine loans.
Read More: Diversification
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