Palmer Square Capital BDC Inc. (NYSE:PSBD) Receives Consensus Rating of “Moderate Buy” from Brokerages

Palmer Square Capital BDC Inc. (NYSE:PSBD) has been assigned an average recommendation of “Moderate Buy” from the seven brokerages that are currently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $16.93.

Separately, Royal Bank of Canada reissued an “outperform” rating and issued 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 Down 1.3 %

Shares of Palmer Square Capital BDC stock opened at $16.08 on Wednesday. The company has a 50-day moving average of $16.33 and a two-hundred day moving average of $16.40. Palmer Square Capital BDC has a 12-month low of $15.27 and a 12-month high of $17.12.

Palmer Square Capital BDC (NYSE:PSBD) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.03). Palmer Square Capital BDC had a net margin of 64.65% and a return on equity of 16.13%. The business had revenue of $36.55 million during the quarter, compared to analyst estimates of $36.27 million. As a group, equities research analysts forecast that Palmer Square Capital BDC will post 1.97 earnings per share for the current year.

Palmer Square Capital BDC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 14th. Shareholders of record on Friday, September 27th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 10.45%. The ex-dividend date is Friday, September 27th.

Hedge Funds Weigh In On Palmer Square Capital BDC

A number of institutional investors have recently added to or reduced their stakes in the company. Apollo Management Holdings L.P. bought a new stake in shares of Palmer Square Capital BDC in the 1st quarter worth about $9,713,000. Confluence Investment Management LLC raised its stake in Palmer Square Capital BDC by 70.5% during the second quarter. Confluence Investment Management LLC now owns 85,240 shares of the company’s stock valued at $1,377,000 after buying an additional 35,240 shares in the last quarter. Capstone Investment Advisors LLC bought a new position in Palmer Square Capital BDC during the 1st quarter worth approximately $1,032,000. Marble Harbor Investment Counsel LLC acquired a new position in shares of Palmer Square Capital BDC in the 2nd quarter worth approximately $315,000. Finally, Renaissance Technologies LLC bought a new stake in shares of Palmer Square Capital BDC in the 2nd quarter valued at approximately $173,000. 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.