Commerce Bank purchased a new position in FS Investment Corporation (NYSE:FSIC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 351,200 shares of the financial services provider’s stock, valued at approximately $3,213,000. Commerce Bank owned about 0.14% of FS Investment Corporation at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. increased its stake in shares of FS Investment Corporation by 16.8% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 201,985 shares of the financial services provider’s stock worth $1,979,000 after buying an additional 29,024 shares during the period. Independent Advisor Alliance increased its stake in shares of FS Investment Corporation by 624.0% in the first quarter. Independent Advisor Alliance now owns 248,905 shares of the financial services provider’s stock worth $2,414,000 after buying an additional 214,527 shares during the period. Conservest Capital Advisors Inc. purchased a new stake in shares of FS Investment Corporation during the first quarter worth approximately $221,000. Eagle Global Advisors LLC increased its stake in shares of FS Investment Corporation by 131.7% in the first quarter. Eagle Global Advisors LLC now owns 47,149 shares of the financial services provider’s stock worth $462,000 after buying an additional 26,800 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC increased its stake in shares of FS Investment Corporation by 11.5% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 559,690 shares of the financial services provider’s stock worth $5,429,000 after buying an additional 57,796 shares during the period. Institutional investors and hedge funds own 32.49% of the company’s stock.

Shares of FS Investment Corporation (NYSE FSIC) opened at 8.30 on Friday. FS Investment Corporation has a 12-month low of $8.02 and a 12-month high of $10.80. The company has a 50-day moving average of $8.70 and a 200-day moving average of $9.36.

FS Investment Corporation (NYSE:FSIC) last posted its quarterly earnings results on Wednesday, August 9th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by $0.01. The company had revenue of $98.70 million during the quarter, compared to analysts’ expectations of $103.14 million. FS Investment Corporation had a return on equity of 8.92% and a net margin of 59.88%. Equities analysts forecast that FS Investment Corporation will post $0.74 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Wednesday, September 20th will be issued a $0.2228 dividend. The ex-dividend date of this dividend is Tuesday, September 19th. This represents a $0.89 dividend on an annualized basis and a yield of 10.73%. FS Investment Corporation’s dividend payout ratio is currently 87.26%.

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A number of equities research analysts recently issued reports on the stock. National Securities restated a “neutral” rating and issued a $10.00 target price on shares of FS Investment Corporation in a report on Monday, May 15th. Zacks Investment Research downgraded shares of FS Investment Corporation from a “buy” rating to a “hold” rating in a report on Friday, May 12th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $10.00 target price on shares of FS Investment Corporation in a report on Tuesday, July 25th. Finally, BidaskClub upgraded shares of FS Investment Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, June 28th. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. FS Investment Corporation has a consensus rating of “Hold” and an average price target of $9.80.

In other news, CEO Michael C. Forman acquired 22,320 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The shares were purchased at an average price of $8.88 per share, for a total transaction of $198,201.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David J. Adelman acquired 11,160 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The stock was purchased at an average price of $8.88 per share, for a total transaction of $99,100.80. Following the acquisition, the director now directly owns 34,063 shares of the company’s stock, valued at approximately $302,479.44. The disclosure for this purchase can be found here. Insiders purchased 56,855 shares of company stock worth $494,554 in the last 90 days. 1.00% of the stock is currently owned by corporate insiders.

FS Investment Corporation Company Profile

FS Investment Corporation is an externally managed, non-diversified, closed-end management investment company. The Company’s investment objectives are to generate current income and long-term capital appreciation. Its portfolio consists primarily of investments in senior secured loans and second lien secured loans of the private United States middle market companies and subordinated loans of the private United States companies.

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Institutional Ownership by Quarter for FS Investment Corporation (NYSE:FSIC)

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