Palmer Square Capital BDC (NYSE:PSBD) Shares Gap Down to $16.38

Palmer Square Capital BDC Inc. (NYSE:PSBD) shares gapped down prior to trading on Friday . The stock had previously closed at $16.38, but opened at $16.04. Palmer Square Capital BDC shares last traded at $15.94, with a volume of 1,645 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada restated an “outperform” rating and set a $17.00 target price on shares of Palmer Square Capital BDC in a report on Tuesday, August 13th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $16.93.

Palmer Square Capital BDC Trading Up 1.0 %

The stock has a fifty day moving average of $16.35 and a 200-day moving average of $16.40.

Palmer Square Capital BDC (NYSE:PSBD) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.03). Palmer Square Capital BDC had a return on equity of 16.13% and a net margin of 64.65%. The business had revenue of $36.55 million for the quarter, compared to the consensus estimate of $36.27 million. On average, analysts anticipate that Palmer Square Capital BDC Inc. will post 1.97 EPS for the current year.

Palmer Square Capital BDC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 14th. Investors of record on Friday, September 27th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 10.45%. The ex-dividend date is Friday, September 27th.

Institutional Trading of Palmer Square Capital BDC

A number of hedge funds and other institutional investors have recently modified their holdings of PSBD. Renaissance Technologies LLC bought a new position in shares of Palmer Square Capital BDC in the second quarter valued at $173,000. Marble Harbor Investment Counsel LLC bought a new stake in Palmer Square Capital BDC during the second quarter worth $315,000. Confluence Investment Management LLC lifted its stake in Palmer Square Capital BDC by 70.5% in the second quarter. Confluence Investment Management LLC now owns 85,240 shares of the company’s stock valued at $1,377,000 after acquiring an additional 35,240 shares during the last quarter. Apollo Management Holdings L.P. bought a new position in shares of Palmer Square Capital BDC in the 1st quarter valued at about $9,713,000. Finally, Dorsey & Whitney Trust CO LLC bought a new position in shares of Palmer Square Capital BDC in the 1st quarter valued at about $170,000. Institutional investors and hedge funds own 6.52% of the company’s stock.

Palmer Square Capital BDC Company Profile

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.