Palmer Square Capital BDC Inc. (NYSE:PSBD) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Palmer Square Capital BDC Inc. (NYSE:PSBD) have been given an average recommendation of “Moderate Buy” by the seven brokerages that are presently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $16.93.

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

Institutional Trading of Palmer Square Capital BDC

Several hedge funds and other institutional investors have recently made changes to their positions in PSBD. Capstone Investment Advisors LLC bought a new stake in Palmer Square Capital BDC in the 1st quarter worth about $1,032,000. Dorsey & Whitney Trust CO LLC bought a new position in shares of Palmer Square Capital BDC during the 1st quarter valued at $170,000. Apollo Management Holdings L.P. purchased a new position in shares of Palmer Square Capital BDC in the 1st quarter worth $9,713,000. Confluence Investment Management LLC grew its holdings in shares of 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 worth $1,377,000 after acquiring an additional 35,240 shares during the period. Finally, Marble Harbor Investment Counsel LLC purchased a new stake in Palmer Square Capital BDC during the second quarter valued at $315,000. Hedge funds and other institutional investors own 6.52% of the company’s stock.

Palmer Square Capital BDC Stock Down 0.9 %

Shares of NYSE:PSBD opened at $15.94 on Friday. The company has a 50-day moving average price of $16.19 and a 200-day moving average price of $16.36. Palmer Square Capital BDC has a 12 month low of $15.27 and a 12 month high of $17.12.

Palmer Square Capital BDC (NYSE:PSBD) last released its quarterly earnings data 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). The business had revenue of $36.55 million during the quarter, compared to analysts’ expectations of $36.27 million. Palmer Square Capital BDC had a return on equity of 16.13% and a net margin of 64.65%. Equities analysts expect that Palmer Square Capital BDC will post 1.97 earnings per share for the current year.

Palmer Square Capital BDC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 14th. Investors of record on Friday, September 27th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 10.54%. The ex-dividend date of this dividend was Friday, September 27th.

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.