WhiteHorse Finance, Inc. (WHF) to Issue Quarterly Dividend of $0.39 on October 2nd

WhiteHorse Finance, Inc. (NASDAQ:WHF) declared a quarterly dividend on Thursday, August 8th, Zacks reports. Investors of record on Wednesday, September 18th will be paid a dividend of 0.385 per share by the investment management company on Wednesday, October 2nd. This represents a $1.54 dividend on an annualized basis and a dividend yield of 12.80%. The ex-dividend date of this dividend is Wednesday, September 18th.

WhiteHorse Finance has raised its dividend by an average of 8.4% per year over the last three years. WhiteHorse Finance has a payout ratio of 101.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect WhiteHorse Finance to earn $1.53 per share next year, which means the company may not be able to cover its $1.54 annual dividend with an expected future payout ratio of 100.7%.

WhiteHorse Finance Stock Performance

WHF opened at $12.03 on Monday. The firm has a market cap of $279.58 million, a P/E ratio of 14.67 and a beta of 1.29. WhiteHorse Finance has a 1-year low of $10.95 and a 1-year high of $13.52. The company has a 50 day simple moving average of $11.90 and a two-hundred day simple moving average of $12.40. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.47 and a quick ratio of 1.47.

WhiteHorse Finance (NASDAQ:WHF) last issued its quarterly earnings results on Thursday, August 8th. The investment management company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.05). The business had revenue of $23.48 million during the quarter, compared to analysts’ expectations of $24.72 million. WhiteHorse Finance had a return on equity of 13.12% and a net margin of 22.73%. During the same quarter in the previous year, the company posted $0.46 EPS. Equities analysts forecast that WhiteHorse Finance will post 1.7 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on WHF shares. JPMorgan Chase & Co. cut their price objective on shares of WhiteHorse Finance from $12.50 to $11.50 and set an “underweight” rating for the company in a report on Monday, July 29th. StockNews.com upgraded WhiteHorse Finance from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $12.75.

Insider Buying and Selling

In other WhiteHorse Finance news, Director John Bolduc acquired 12,673 shares of the stock in a transaction on Monday, August 12th. The stock was acquired at an average price of $11.48 per share, for a total transaction of $145,486.04. Following the completion of the transaction, the director now directly owns 224,326 shares of the company’s stock, valued at $2,575,262.48. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.30% of the stock is currently owned by company insiders.

About WhiteHorse Finance

WhiteHorse Finance, Inc is business development company, non-diversified, closed end management company specializing in originating senior secured loans, lower middle market, growth capital industries. It invests in broadline retail, office services and supplies, building products, health care services, health care supplies, research and consulting services, application software, home furnishings, specialized consumer services, data processing and outsourced services, leisure facilities, cable, and satellite.