WhiteHorse Finance, Inc. Declares Quarterly Dividend of $0.39 (NASDAQ:WHF)

WhiteHorse Finance, Inc. (NASDAQ:WHF) declared a quarterly dividend on Thursday, August 8th, Zacks reports. Stockholders 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 13.68%. The ex-dividend date is Wednesday, September 18th.

WhiteHorse Finance has raised its dividend by an average of 8.4% annually over the last three years. WhiteHorse Finance has a dividend payout ratio of 93.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect WhiteHorse Finance to earn $1.67 per share next year, which means the company should continue to be able to cover its $1.54 annual dividend with an expected future payout ratio of 92.2%.

WhiteHorse Finance Stock Down 4.1 %

WhiteHorse Finance stock opened at $11.26 on Friday. WhiteHorse Finance has a 1-year low of $11.14 and a 1-year high of $13.52. The business has a fifty day moving average price of $12.37 and a 200-day moving average price of $12.57. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.39 and a quick ratio of 1.39. The stock has a market capitalization of $261.68 million, a price-to-earnings ratio of 13.73 and a beta of 1.30.

WhiteHorse Finance (NASDAQ:WHF) last announced its quarterly earnings data on Wednesday, May 8th. The investment management company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.46 by $0.01. The firm had revenue of $25.48 million during the quarter, compared to analyst estimates of $24.90 million. WhiteHorse Finance had a net margin of 18.40% and a return on equity of 13.40%. Equities research analysts forecast that WhiteHorse Finance will post 1.81 EPS for the current fiscal year.

Insiders Place Their Bets

In other WhiteHorse Finance news, major shareholder Anthony Tamer sold 1,000,000 shares of WhiteHorse Finance stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $12.15, for a total transaction of $12,150,000.00. Following the sale, the insider now owns 3,976,258 shares of the company’s stock, valued at approximately $48,311,534.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.30% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently commented on WHF. StockNews.com lowered WhiteHorse Finance from a “buy” rating to a “hold” rating in a research report on Saturday, May 11th. JPMorgan Chase & Co. cut their price objective on shares of WhiteHorse Finance from $12.50 to $11.50 and set an “underweight” rating on the stock in a research note on Monday, July 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $12.81.

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.