Palmer Square Capital BDC (NYSE:PSBD) Stock Price Down 2.2%

Palmer Square Capital BDC Inc. (NYSE:PSBD) dropped 2.2% during trading on Friday . The company traded as low as $16.08 and last traded at $16.08. Approximately 829 shares traded hands during mid-day trading, a decline of 99% from the average daily volume of 58,616 shares. The stock had previously closed at $16.45.

Analysts Set New Price Targets

Separately, Janney Montgomery Scott initiated coverage on shares of Palmer Square Capital BDC in a report on Monday, April 22nd. They set a “neutral” rating and a $17.50 price objective for the company. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Palmer Square Capital BDC currently has an average rating of “Moderate Buy” and a consensus price target of $16.93.

Palmer Square Capital BDC Stock Up 1.1 %

The company’s 50 day simple moving average is $16.56.

Palmer Square Capital BDC (NYSE:PSBD) last posted its earnings results on Tuesday, May 7th. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. Palmer Square Capital BDC had a net margin of 84.94% and a return on equity of 18.90%. The business had revenue of $34.79 million for the quarter, compared to the consensus estimate of $30.34 million. As a group, analysts forecast that Palmer Square Capital BDC Inc. will post 2.01 earnings per share for the current fiscal year.

Palmer Square Capital BDC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 16th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.42 per share. The ex-dividend date is Friday, June 28th. This represents a $1.68 dividend on an annualized basis and a yield of 10.40%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PSBD. Dorsey & Whitney Trust CO LLC purchased a new stake in shares of Palmer Square Capital BDC during the 1st quarter worth $170,000. Capstone Investment Advisors LLC bought a new position in Palmer Square Capital BDC in the first quarter worth about $1,032,000. Finally, Apollo Management Holdings L.P. purchased a new stake in shares of Palmer Square Capital BDC during the first quarter valued at about $9,713,000. 6.52% of the stock is currently owned by hedge funds and other institutional investors.

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.