Brokerages Set Palmer Square Capital BDC Inc. (NYSE:PSBD) Price Target at $16.93

Palmer Square Capital BDC Inc. (NYSE:PSBD) has received an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the stock, Marketbeat.com 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 1 year price target among brokerages that have issued a report on the stock in the last year is $16.93.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Apollo Management Holdings L.P. bought a new position in shares of Palmer Square Capital BDC in the 1st quarter valued at $9,713,000. Capstone Investment Advisors LLC bought a new position in shares of Palmer Square Capital BDC in the 1st quarter valued at $1,032,000. Finally, Dorsey & Whitney Trust CO LLC bought a new position in shares of Palmer Square Capital BDC in the 1st quarter valued at $170,000. 6.52% of the stock is currently owned by institutional investors.

Palmer Square Capital BDC Price Performance

Shares of PSBD stock opened at $16.68 on Friday. The company has a 50 day moving average of $16.53. 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 quarterly earnings results on Tuesday, May 7th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.03. The business had revenue of $34.79 million during the quarter, compared to analysts’ expectations of $30.34 million. Palmer Square Capital BDC had a return on equity of 18.90% and a net margin of 84.94%. As a group, analysts predict that Palmer Square Capital BDC will post 2.01 earnings per share for the current year.

Palmer Square Capital BDC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 16th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 10.07%. 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.