Bank of America Corp DE Makes New $1.62 Million Investment in FS KKR Capital Corp. $FSK

Key Points

• Bank of America acquired 154,396 shares of FS KKR Capital in the second quarter, valued at approximately $1.62 million and representing about 0.06% of the company. Institutional investors collectively own 36.26% of FSK.
• Analyst sentiment remains cautious: six analysts rate FSK “Hold” and two rate it “Sell,” producing an average rating of “Reduce” and a consensus price target of $11.43.
• FS KKR Capital raised its quarterly dividend to $0.44 per share, equivalent to a $1.76 annualized payout and a 15.8% yield. The company also exceeded quarterly earnings and revenue expectations, reporting $0.43 EPS and $290 million in revenue.

Bank of America Corp DE bought a new stake in FS KKR Capital Corp. (NYSE:FSK - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 154,396 shares of the company's stock, valued at approximately $1,621,000. Bank of America Corp DE owned about 0.06% of FS KKR Capital as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Titan Investment Management LLC purchased a new position in FS KKR Capital during the 4th quarter worth $1,863,000. BlackRock Inc. purchased a new stake in shares of FS KKR Capital in the second quarter valued at about $11,115,000. OMERS ADMINISTRATION Corp purchased a new stake in shares of FS KKR Capital in the second quarter valued at about $7,548,000. Lido Advisors LLC increased its stake in shares of FS KKR Capital by 452.0% during the fourth quarter. Lido Advisors LLC now owns 589,139 shares of the company's stock worth $8,725,000 after acquiring an additional 482,412 shares during the period. Finally, SummitTX Capital L.P. acquired a new position in shares of FS KKR Capital during the first quarter worth about $1,650,000. Institutional investors and hedge funds own 36.26% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on FSK shares. Truist Financial boosted their target price on FS KKR Capital from $11.00 to $12.00 and gave the stock a "hold" rating in a research report on Friday, August 7th. Zacks Research upgraded FS KKR Capital from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 11th. JPMorgan Chase & Co. upped their price objective on FS KKR Capital from $9.50 to $11.00 and gave the stock a "neutral" rating in a report on Wednesday, August 19th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $13.00 price objective (up from $11.00) on shares of FS KKR Capital in a research report on Wednesday, August 12th. Finally, Capital One Financial set a $12.00 price objective on FS KKR Capital in a research report on Friday, August 7th. Six equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, FS KKR Capital presently has an average rating of "Reduce" and a consensus price target of $11.43.

FS KKR Capital Price Performance

NYSE:FSK opened at $11.12 on Friday. FS KKR Capital Corp. has a 12-month low of $9.72 and a 12-month high of $16.31. The firm has a market cap of $3.07 billion, a price-to-earnings ratio of -8.23 and a beta of 0.86. The company's 50-day moving average is $11.72 and its two-hundred day moving average is $11.02. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 1.26.

FS KKR Capital (NYSE:FSK - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.43 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.01. The business had revenue of $290.00 million during the quarter, compared to the consensus estimate of $286.75 million. FS KKR Capital had a negative net margin of 28.52% and a positive return on equity of 9.70%. During the same period in the previous year, the firm posted ($0.75) earnings per share. Research analysts expect that FS KKR Capital Corp. will post 1.64 EPS for the current year.

FS KKR Capital Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Wednesday, September 16th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 15.8%. This is a positive change from FS KKR Capital's previous quarterly dividend of $0.42. The ex-dividend date is Wednesday, September 16th. FS KKR Capital's payout ratio is -130.37%.

FS KKR Capital Company Profile

FS KKR Capital Corp. NYSE: FSK is a business development company that provides financing to privately owned middle-market companies. The company primarily invests in senior secured loans, including first-lien and second-lien debt, and may also make select equity investments. Its portfolio companies operate across a range of industries and are generally located in the United States.

FSK seeks to generate income and long-term capital appreciation by partnering with companies that require financing for acquisitions, recapitalizations, growth initiatives, refinancing and other corporate purposes.

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