Palmer Square Capital BDC Inc. (NYSE:PSBD) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Palmer Square Capital BDC Inc. (NYSE:PSBD) have been assigned a consensus recommendation of “Moderate Buy” from the seven brokerages that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $16.93.

Separately, Royal Bank of Canada reiterated an “outperform” rating and issued a $17.00 target price on shares of Palmer Square Capital BDC in a research note on Tuesday, August 13th.

Palmer Square Capital BDC Stock Performance

Shares of PSBD opened at $15.94 on Friday. The stock’s fifty day moving average price is $16.19 and its two-hundred day moving average price is $16.36. Palmer Square Capital BDC has a 1 year low of $15.27 and a 1 year high of $17.12.

Palmer Square Capital BDC (NYSE:PSBD) last issued its earnings results on Thursday, August 8th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $36.27 million. As a group, analysts forecast that Palmer Square Capital BDC will post 1.97 EPS for the current year.

Palmer Square Capital BDC Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 14th. Shareholders of record on Friday, September 27th were given a dividend of $0.42 per share. The ex-dividend date was Friday, September 27th. This represents a $1.68 dividend on an annualized basis and a yield of 10.54%.

Institutional Investors Weigh In On Palmer Square Capital BDC

Several hedge funds have recently added to or reduced their stakes in the company. Confluence Investment Management LLC lifted its holdings in shares of Palmer Square Capital BDC by 22.1% in the 3rd quarter. Confluence Investment Management LLC now owns 104,082 shares of the company’s stock worth $1,697,000 after acquiring an additional 18,842 shares during the last quarter. Hennion & Walsh Asset Management Inc. bought a new stake in Palmer Square Capital BDC in the third quarter worth $792,000. Renaissance Technologies LLC purchased a new position in shares of Palmer Square Capital BDC in the second quarter worth about $173,000. Marble Harbor Investment Counsel LLC purchased a new stake in Palmer Square Capital BDC during the 2nd quarter valued at about $315,000. Finally, Apollo Management Holdings L.P. bought a new position in Palmer Square Capital BDC during the 1st quarter worth approximately $9,713,000. 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.