M&T Bank Corp Acquires New Stake in Blackrock Tcp Capital Corp. (NASDAQ:TCPC)

M&T Bank Corp acquired a new stake in Blackrock Tcp Capital Corp. (NASDAQ:TCPC) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 24,122 shares of the investment management company’s stock, valued at approximately $193,000.

Other institutional investors have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. lifted its position in Blackrock Tcp Capital by 6.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 593,485 shares of the investment management company’s stock worth $4,754,000 after buying an additional 34,670 shares in the last quarter. D.A. Davidson & CO. lifted its position in Blackrock Tcp Capital by 1.7% during the 1st quarter. D.A. Davidson & CO. now owns 475,460 shares of the investment management company’s stock worth $3,808,000 after buying an additional 7,954 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in Blackrock Tcp Capital by 9.4% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 260,862 shares of the investment management company’s stock worth $2,090,000 after buying an additional 22,430 shares in the last quarter. Mallini Complete Financial Planning LLC lifted its position in Blackrock Tcp Capital by 9.6% during the 1st quarter. Mallini Complete Financial Planning LLC now owns 22,505 shares of the investment management company’s stock worth $180,000 after buying an additional 1,971 shares in the last quarter. Finally, Transcend Capital Advisors LLC lifted its position in Blackrock Tcp Capital by 2.8% during the 1st quarter. Transcend Capital Advisors LLC now owns 1,472,609 shares of the investment management company’s stock worth $11,796,000 after buying an additional 40,153 shares in the last quarter.

Analysts Set New Price Targets

Several research firms have recently weighed in on TCPC. Keefe, Bruyette & Woods lowered their price objective on shares of Blackrock Tcp Capital from $8.50 to $7.50 and set a “market perform” rating on the stock in a research note on Tuesday, April 8th. Wells Fargo & Company lowered their price objective on shares of Blackrock Tcp Capital from $7.50 to $6.50 and set an “underweight” rating on the stock in a research note on Monday, April 28th. Finally, Wall Street Zen lowered shares of Blackrock Tcp Capital from a “buy” rating to a “hold” rating in a research note on Sunday, July 13th.

Blackrock Tcp Capital Stock Down 1.9%

Shares of TCPC opened at $7.69 on Friday. Blackrock Tcp Capital Corp. has a 52 week low of $6.27 and a 52 week high of $10.87. The firm has a market cap of $653.96 million, a P/E ratio of -13.26 and a beta of 1.02. The firm’s 50-day simple moving average is $7.71 and its 200 day simple moving average is $7.97. The company has a debt-to-equity ratio of 1.41, a quick ratio of 34.00 and a current ratio of 34.00.

Blackrock Tcp Capital (NASDAQ:TCPC) last announced its quarterly earnings results on Thursday, May 8th. The investment management company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. Blackrock Tcp Capital had a negative net margin of 18.22% and a positive return on equity of 15.51%. The business had revenue of $55.89 million for the quarter, compared to analyst estimates of $57.95 million. On average, analysts forecast that Blackrock Tcp Capital Corp. will post 1.65 earnings per share for the current year.

Blackrock Tcp Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $1.00 dividend on an annualized basis and a yield of 13.00%. Blackrock Tcp Capital’s dividend payout ratio (DPR) is currently -172.41%.

Blackrock Tcp Capital Company Profile

BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, small businesses, debt securities, senior secured loans, junior loans, originated loans, mezzanine, senior debt instruments, bonds, and secondary-market investments. It typically invests in communication services, public relations services, television, wireless telecommunication services, apparel, textile mills, restaurants, retailing, energy, oil and gas extraction, Patent owners and Lessors, Federal and Federally- Sponsored Credit agencies, insurance, hospital and healthcare centers, Biotechnology, engineering services, heavy electrical equipment, tax accounting, scientific and related consulting services, charter freight air transportation, Information technology consulting, application hosting services, software diagram and design, computer aided design, communication equipment, electronics manufacturing equipment, computer components, chemicals.