Palmer Square Capital BDC Inc. (NYSE:PSBD – Get Free Report) 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.
Get Our Latest Stock Analysis on Palmer Square Capital BDC
Palmer Square Capital BDC Stock Down 1.3 %
Palmer Square Capital BDC (NYSE:PSBD – Get Free Report) 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.
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