Palmer Square Capital BDC Inc. (NYSE:PSBD) Receives $16.93 Average PT from Brokerages

Palmer Square Capital BDC Inc. (NYSE:PSBD) has received a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $16.93.

Separately, Royal Bank of Canada restated an “outperform” rating and set a $17.00 price objective on shares of Palmer Square Capital BDC in a report on Tuesday, August 13th.

Palmer Square Capital BDC Stock Performance

Shares of NYSE:PSBD opened at $15.93 on Friday. Palmer Square Capital BDC has a 1-year low of $15.27 and a 1-year high of $17.12. The company has a 50 day moving average price of $16.18 and a 200 day moving average price of $16.36.

Palmer Square Capital BDC (NYSE:PSBD) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.03). The company had revenue of $36.55 million for the quarter, compared to the consensus estimate of $36.27 million. Palmer Square Capital BDC had a return on equity of 16.13% and a net margin of 64.65%. Sell-side analysts predict that Palmer Square Capital BDC will post 1.97 earnings per share for the current year.

Palmer Square Capital BDC Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 14th. Shareholders of record on Friday, September 27th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $1.68 dividend on an annualized basis and a yield of 10.55%.

Hedge Funds Weigh In On Palmer Square Capital BDC

A number of large investors have recently made changes to their positions in the business. Dorsey & Whitney Trust CO LLC purchased a new position in shares of Palmer Square Capital BDC during the 1st quarter valued at $170,000. Renaissance Technologies LLC acquired a new stake in Palmer Square Capital BDC during the second quarter valued at $173,000. Marble Harbor Investment Counsel LLC purchased a new position in Palmer Square Capital BDC in the second quarter valued at about $315,000. Hennion & Walsh Asset Management Inc. acquired a new position in Palmer Square Capital BDC in the 3rd quarter worth about $792,000. Finally, Capstone Investment Advisors LLC purchased a new stake in shares of Palmer Square Capital BDC during the 1st quarter worth about $1,032,000. Institutional investors and hedge funds own 6.52% of the company’s stock.

About Palmer Square Capital BDC

Palmer Square Capital BDC Inc is an externally managed, non-diversified closed-end management investment company which primarily lends to and invests in corporate debt securities, including small to large private U.S. companies and has elected to be regulated as a business development company. Palmer Square Capital BDC Inc is based in MISSION WOODS, Kan.