KCAP Financial’s (KCAP) “Hold” Rating Reaffirmed at Keefe, Bruyette & Woods
Keefe, Bruyette & Woods reaffirmed their hold rating on shares of KCAP Financial, Inc. (NASDAQ:KCAP) in a report published on Tuesday morning. They currently have a $3.50 price target on the financial services provider’s stock.
A number of other analysts have also recently issued reports on KCAP. Zacks Investment Research cut KCAP Financial from a hold rating to a sell rating in a research report on Tuesday, August 15th. ValuEngine raised KCAP Financial from a hold rating to a buy rating in a research report on Friday, September 1st. Finally, Ladenburg Thalmann Financial Services began coverage on KCAP Financial in a research report on Monday, September 25th. They issued a neutral rating for the company. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $9.75.
Shares of KCAP Financial (NASDAQ KCAP) traded up 0.2853% on Tuesday, reaching $3.4799. The company’s stock had a trading volume of 7,996 shares. KCAP Financial has a 1-year low of $3.30 and a 1-year high of $4.38. The firm has a market cap of $128.76 million, a price-to-earnings ratio of 23.1993 and a beta of 1.69. The company’s 50 day moving average is $3.54 and its 200-day moving average is $3.51.
KCAP Financial (NASDAQ:KCAP) last released its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $0.07 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.03). KCAP Financial had a net margin of 17.53% and a return on equity of 7.44%. The business had revenue of $7.66 million during the quarter, compared to analyst estimates of $7.95 million. Equities research analysts expect that KCAP Financial will post $0.31 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 26th. Stockholders of record on Tuesday, October 10th will be given a $0.12 dividend. The ex-dividend date of this dividend is Friday, October 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 13.83%. KCAP Financial’s payout ratio is 320.00%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its position in shares of KCAP Financial by 43.9% in the first quarter. Goldman Sachs Group Inc. now owns 55,589 shares of the financial services provider’s stock valued at $226,000 after buying an additional 16,970 shares during the last quarter. Private Management Group Inc. lifted its position in shares of KCAP Financial by 14.9% in the second quarter. Private Management Group Inc. now owns 1,080,064 shares of the financial services provider’s stock valued at $3,813,000 after buying an additional 139,997 shares during the last quarter. Credit Suisse AG acquired a new stake in shares of KCAP Financial in the first quarter valued at approximately $3,352,000. Diversified Trust Co lifted its position in shares of KCAP Financial by 3.0% in the second quarter. Diversified Trust Co now owns 219,655 shares of the financial services provider’s stock valued at $775,000 after buying an additional 6,319 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in shares of KCAP Financial by 3.0% in the first quarter. Legal & General Group Plc now owns 85,400 shares of the financial services provider’s stock valued at $346,000 after buying an additional 2,505 shares during the last quarter. 20.18% of the stock is owned by institutional investors.
KCAP Financial Company Profile
KCAP Financial, Inc is an internally managed, non-diversified closed-end investment company. The Company has approximately three principal areas of investments. First, the Company originates, structures and invests in senior secured term loans and mezzanine debt primarily in privately-held middle market companies (the debt securities portfolio).
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