Portman Ridge Finance Corp (NASDAQ:BCIC) Announces Monthly Dividend of $0.09

Portman Ridge Finance Corp (NASDAQ:BCIC) declared a monthly dividend on Wednesday, November 11th. Stockholders of record on Friday, January 15th will be paid a dividend of $0.09 per share on Friday, January 29th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 16.4%. The ex-dividend date is Friday, January 15th.

Portman Ridge Finance Stock Down 4.6%

Shares of NASDAQ:BCIC opened at $6.57 on Thursday. The stock’s 50-day moving average price is $6.69 and its 200-day moving average price is $7.97. Portman Ridge Finance has a 12-month low of $5.78 and a 12-month high of $13.50. The stock has a market capitalization of $81.34 million, a P/E ratio of 3.05 and a beta of 0.55. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 1.56.

Analysts Set New Price Targets

Several brokerages recently weighed in on BCIC. Zacks Research upgraded Portman Ridge Finance from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 3rd. Oppenheimer reduced their price target on Portman Ridge Finance from $12.00 to $11.00 and set a “market perform” rating on the stock in a research report on Monday, August 10th. Weiss Ratings raised Portman Ridge Finance from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, October 28th. Finally, Keefe, Bruyette & Woods lowered their price objective on Portman Ridge Finance from $9.00 to $7.50 and set a “market perform” rating for the company in a research report on Monday, August 10th. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $9.25.

About Portman Ridge Finance

Portman Ridge Finance Corporation is a business development company that provides financing to privately owned, primarily middle-market companies in the United States. The company invests across the capital structure, with a focus on senior secured loans, subordinated debt and, in some cases, equity securities. Through its investment portfolio, Portman Ridge seeks to support companies with acquisition financing, recapitalizations, refinancing and general corporate funding. Its investments may include first-lien and second-lien loans, unitranche facilities and other structured credit instruments.