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

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

Separately, Janney Montgomery Scott initiated coverage on Palmer Square Capital BDC in a research report on Monday, April 22nd. They set a “neutral” rating and a $17.50 price target for the company.

Institutional Trading of Palmer Square Capital BDC

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PSBD. Dorsey & Whitney Trust CO LLC acquired a new stake in shares of Palmer Square Capital BDC during the 1st quarter worth $170,000. Capstone Investment Advisors LLC purchased a new position in shares of Palmer Square Capital BDC in the 1st quarter worth about $1,032,000. Confluence Investment Management LLC lifted its stake in shares of Palmer Square Capital BDC by 70.5% in the 2nd quarter. Confluence Investment Management LLC now owns 85,240 shares of the company’s stock valued at $1,377,000 after purchasing an additional 35,240 shares in the last quarter. Finally, Apollo Management Holdings L.P. purchased a new stake in shares of Palmer Square Capital BDC during the 1st quarter worth about $9,713,000. Hedge funds and other institutional investors own 6.52% of the company’s stock.

Palmer Square Capital BDC Price Performance

PSBD stock opened at $16.10 on Thursday. The firm’s 50 day moving average is $16.50. 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 announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. Palmer Square Capital BDC had a return on equity of 18.90% and a net margin of 84.94%. The business had revenue of $34.79 million during the quarter, compared to analysts’ expectations of $30.34 million. On average, analysts forecast that Palmer Square Capital BDC will post 2.01 earnings per share for the current year.

Palmer Square Capital BDC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 16th. Stockholders of record on Friday, June 28th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 10.43%. The ex-dividend date is Friday, June 28th.

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.