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

Shares of Palmer Square Capital BDC Inc. (NYSE:PSBD) have been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price target among brokers that have issued ratings 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 target on shares of Palmer Square Capital BDC in a research note on Tuesday, August 13th.

Palmer Square Capital BDC Stock Performance

Shares of NYSE:PSBD opened at $16.35 on Friday. Palmer Square Capital BDC has a 1 year low of $15.27 and a 1 year high of $17.12. The business has a fifty day moving average price of $16.33 and a two-hundred day moving average price of $16.39.

Palmer Square Capital BDC (NYSE:PSBD) last posted its quarterly earnings results 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 net margin of 64.65% and a return on equity of 16.13%. As a group, sell-side analysts anticipate that Palmer Square Capital BDC will post 1.97 EPS for the current fiscal year.

Palmer Square Capital BDC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 14th. Investors of record on Friday, September 27th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 10.28%. The ex-dividend date is Friday, September 27th.

Institutional Trading of Palmer Square Capital BDC

Institutional investors and hedge funds have recently made changes to their positions in the stock. Capstone Investment Advisors LLC purchased a new stake in Palmer Square Capital BDC during the first quarter valued at about $1,032,000. Dorsey & Whitney Trust CO LLC purchased a new position in shares of Palmer Square Capital BDC during the 1st quarter valued at about $170,000. Apollo Management Holdings L.P. bought a new stake in Palmer Square Capital BDC in the 1st quarter worth approximately $9,713,000. Confluence Investment Management LLC boosted its stake in Palmer Square Capital BDC by 70.5% in the second quarter. Confluence Investment Management LLC now owns 85,240 shares of the company’s stock worth $1,377,000 after buying an additional 35,240 shares in the last quarter. Finally, Marble Harbor Investment Counsel LLC bought a new position in Palmer Square Capital BDC during the second quarter valued at approximately $315,000. Hedge funds and other institutional investors 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.