OFS Capital Co. (OFS) To Go Ex-Dividend on March 21st

OFS Capital Co. (NASDAQ:OFS) declared a quarterly dividend on Wednesday, February 26th, Wall Street Journal reports. Shareholders of record on Friday, March 21st will be given a dividend of 0.34 per share by the investment management company on Monday, March 31st. This represents a $1.36 annualized dividend and a yield of 14.30%. The ex-dividend date of this dividend is Friday, March 21st.

OFS Capital has increased its dividend by an average of 20.3% annually over the last three years. OFS Capital has a dividend payout ratio of 138.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect OFS Capital to earn $1.01 per share next year, which means the company may not be able to cover its $1.36 annual dividend with an expected future payout ratio of 134.7%.

OFS Capital Trading Up 0.1 %

Shares of NASDAQ OFS opened at $9.51 on Wednesday. The stock has a market cap of $127.43 million, a price-to-earnings ratio of -105.65 and a beta of 1.76. The business has a 50 day simple moving average of $8.38 and a 200 day simple moving average of $8.29. OFS Capital has a 52 week low of $7.75 and a 52 week high of $10.14. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.12 and a current ratio of 0.12.

OFS Capital (NASDAQ:OFS) last announced its quarterly earnings results on Monday, March 3rd. The investment management company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.25 by $0.05. The business had revenue of $11.65 million during the quarter, compared to analysts’ expectations of $10.30 million. OFS Capital had a positive return on equity of 11.26% and a negative net margin of 2.29%. On average, research analysts predict that OFS Capital will post 1.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com cut OFS Capital from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 13th.

Institutional Inflows and Outflows

An institutional investor recently raised its position in OFS Capital stock. Bank of America Corp DE raised its holdings in shares of OFS Capital Co. (NASDAQ:OFS) by 245.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,079 shares of the investment management company’s stock after buying an additional 5,029 shares during the quarter. Bank of America Corp DE owned about 0.05% of OFS Capital worth $57,000 as of its most recent SEC filing. 10.81% of the stock is currently owned by institutional investors and hedge funds.

OFS Capital Company Profile

OFS Capital Corporation is a business development company specializing in direct and fund investments as well as add-on acquisitions. It provides flexible capital solutions primarily through debt capital and to a lesser extent, minority equity investments serving the needs of U.S.-based middle-market companies across a broad array of industries.