Crescent Capital BDC (NASDAQ:CCAP) Sees Strong Trading Volume After Dividend Announcement

Shares of Crescent Capital BDC, Inc. (NASDAQ:CCAP) saw an uptick in trading volume on Monday after the company announced a dividend. 40,414 shares were traded during trading, a decline of 71% from the previous session’s volume of 141,219 shares.The stock last traded at $18.75 and had previously closed at $18.78.

The newly announced dividend which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a $0.42 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 8.96%. This is an increase from Crescent Capital BDC’s previous quarterly dividend of $0.41. Crescent Capital BDC’s payout ratio is presently 59.79%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Crescent Capital BDC from $18.50 to $19.00 and gave the stock an “outperform” rating in a research report on Thursday, May 23rd. Wells Fargo & Company boosted their target price on shares of Crescent Capital BDC from $16.50 to $18.00 and gave the stock an “equal weight” rating in a research report on Monday, May 13th. Finally, Raymond James boosted their target price on shares of Crescent Capital BDC from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Friday, May 10th.

Crescent Capital BDC Price Performance

The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 1.11. The stock’s 50-day simple moving average is $18.15 and its two-hundred day simple moving average is $17.37. The company has a market capitalization of $694.88 million, a price-to-earnings ratio of 6.67 and a beta of 0.81.

Crescent Capital BDC (NASDAQ:CCAP) last released its earnings results on Wednesday, May 8th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. Crescent Capital BDC had a net margin of 53.32% and a return on equity of 11.99%. The business had revenue of $50.36 million during the quarter, compared to analyst estimates of $48.31 million. Equities research analysts predict that Crescent Capital BDC, Inc. will post 2.34 earnings per share for the current year.

Institutional Investors Weigh In On Crescent Capital BDC

Large investors have recently modified their holdings of the business. Confluence Investment Management LLC purchased a new stake in shares of Crescent Capital BDC during the first quarter worth $1,200,000. Muzinich & Co. Inc. purchased a new stake in shares of Crescent Capital BDC during the fourth quarter worth $843,000. International Assets Investment Management LLC purchased a new stake in shares of Crescent Capital BDC in the fourth quarter valued at about $1,254,000. Mmbg Investment Advisors CO. purchased a new stake in shares of Crescent Capital BDC in the fourth quarter valued at about $612,000. Finally, Anchor Investment Management LLC purchased a new stake in shares of Crescent Capital BDC in the fourth quarter valued at about $342,000. Hedge funds and other institutional investors 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.