Bank of America Corp DE Has $33.95 Million Holdings in Bain Capital Specialty Finance, Inc. $BCSF

Key Points

• Bank of America reduced its BCSF stake by 14.5% in the first quarter, selling 465,464 shares but retaining 2.74 million shares valued at approximately $33.95 million, or a 4.22% ownership position.
• Bain Capital Specialty Finance reported quarterly EPS of $0.44, exceeding analyst estimates of $0.42, while revenue of $47.8 million fell short of the $64.44 million consensus estimate.
• The company declared a quarterly dividend of $0.42 per share, equivalent to a $1.68 annualized payout and a 13.4% yield. Analysts maintain a consensus “Hold” rating, with an average price target of $13.50.

Bank of America Corp DE lowered its holdings in shares of Bain Capital Specialty Finance, Inc. (NYSE:BCSF - Free Report) by 14.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,737,475 shares of the company's stock after selling 465,464 shares during the quarter. Bank of America Corp DE owned 4.22% of Bain Capital Specialty Finance worth $33,945,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Entropy Technologies LP acquired a new stake in shares of Bain Capital Specialty Finance in the 1st quarter valued at about $266,000. Lido Advisors LLC lifted its stake in Bain Capital Specialty Finance by 5.5% in the 1st quarter. Lido Advisors LLC now owns 54,238 shares of the company's stock valued at $673,000 after purchasing an additional 2,813 shares during the last quarter. Spartan Wealth Advisory Services LLC bought a new position in shares of Bain Capital Specialty Finance during the 1st quarter worth approximately $598,000. Independent Financial Group LLC bought a new position in Bain Capital Specialty Finance during the first quarter worth $415,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of Bain Capital Specialty Finance during the 1st quarter worth about $126,000.

Bain Capital Specialty Finance Price Performance

Shares of NYSE:BCSF opened at $12.53 on Friday. The firm's fifty day moving average is $12.62 and its 200-day moving average is $12.89. Bain Capital Specialty Finance, Inc. has a 52 week low of $11.82 and a 52 week high of $15.84. The firm has a market cap of $812.81 million, a PE ratio of 12.66 and a beta of 0.58. The company has a debt-to-equity ratio of 1.39, a quick ratio of 2.17 and a current ratio of 7.20.

Bain Capital Specialty Finance (NYSE:BCSF - Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.42 by $0.02. The firm had revenue of $47.80 million for the quarter, compared to the consensus estimate of $64.44 million. Bain Capital Specialty Finance had a net margin of 24.22% and a return on equity of 10.40%. Sell-side analysts predict that Bain Capital Specialty Finance, Inc. will post 1.67 earnings per share for the current year.

Bain Capital Specialty Finance Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be paid a $0.42 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $1.68 annualized dividend and a dividend yield of 13.4%. Bain Capital Specialty Finance's payout ratio is currently 169.70%.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company decreased their price objective on Bain Capital Specialty Finance from $13.00 to $12.00 and set an "equal weight" rating on the stock in a report on Wednesday. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Bain Capital Specialty Finance has a consensus rating of "Hold" and an average target price of $13.50.

Bain Capital Specialty Finance Company Profile

Bain Capital Specialty Finance NYSE: BCSF is a closed-end interval fund organized as a specialty finance company. Since commencing operations in March 2017, the company has focused on originating and acquiring debt and equity investments in middle-market companies. It is structured to offer investors access to private credit and special situations strategies that are typically unavailable through traditional public debt markets.

The firm's core business activities include direct lending to U.S.

Want to see what other hedge funds are holding BCSF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bain Capital Specialty Finance, Inc. (NYSE:BCSF - Free Report).

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