Wells Fargo & Company Cuts Crescent Capital BDC (NASDAQ:CCAP) Price Target to $18.00

Crescent Capital BDC (NASDAQ:CCAP) had its price target lowered by Wells Fargo & Company from $19.00 to $18.00 in a research note released on Friday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Separately, Keefe, Bruyette & Woods increased their price target on shares of Crescent Capital BDC from $19.00 to $20.00 and gave the stock an “outperform” rating in a research note on Monday, November 25th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $19.17.

Crescent Capital BDC Stock Performance

NASDAQ:CCAP opened at $18.42 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.14. The company has a market cap of $682.50 million, a P/E ratio of 9.25 and a beta of 0.81. Crescent Capital BDC has a fifty-two week low of $16.58 and a fifty-two week high of $20.19. The firm’s 50 day moving average is $19.43 and its two-hundred day moving average is $18.87.

Crescent Capital BDC (NASDAQ:CCAP) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). The company had revenue of $46.40 million for the quarter, compared to analysts’ expectations of $47.27 million. Crescent Capital BDC had a return on equity of 11.86% and a net margin of 37.32%. Analysts expect that Crescent Capital BDC will post 2.09 EPS for the current year.

Crescent Capital BDC Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a $0.05 dividend. The ex-dividend date is Friday, February 28th. Crescent Capital BDC’s payout ratio is currently 84.42%.

Institutional Investors Weigh In On Crescent Capital BDC

Several large investors have recently made changes to their positions in CCAP. Sun Life Financial Inc. grew its holdings in Crescent Capital BDC by 20.7% during the 3rd quarter. Sun Life Financial Inc. now owns 2,226,308 shares of the company’s stock valued at $41,187,000 after purchasing an additional 382,542 shares in the last quarter. Kovitz Investment Group Partners LLC acquired a new stake in Crescent Capital BDC during the 3rd quarter valued at $4,878,000. Raymond James Financial Inc. acquired a new stake in Crescent Capital BDC during the 4th quarter valued at $3,750,000. International Assets Investment Management LLC acquired a new stake in Crescent Capital BDC during the 3rd quarter valued at $1,899,000. Finally, Franklin Resources Inc. grew its holdings in Crescent Capital BDC by 35.2% during the 3rd quarter. Franklin Resources Inc. now owns 256,279 shares of the company’s stock valued at $4,726,000 after purchasing an additional 66,713 shares in the last quarter. Institutional investors and hedge funds own 49.46% of the company’s stock.

Crescent Capital BDC Company Profile

Crescent Capital BDC, Inc is as a business development company private equity / buyouts and loan fund. It specializes in directly investing. It specializes in middle market. The fund seeks to invest in United States.