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

Palmer Square Capital BDC Inc. (NYSE:PSBD) has been given an average recommendation of “Moderate Buy” by the seven analysts that are presently covering the firm, MarketBeat reports. Three 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 brokerages that have issued ratings on the stock in the last year is $16.93.

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

Institutional Trading of Palmer Square Capital BDC

A number of hedge funds and other institutional investors have recently made changes to their positions in PSBD. Dorsey & Whitney Trust CO LLC bought a new position in shares of Palmer Square Capital BDC in the first quarter valued at approximately $170,000. Renaissance Technologies LLC acquired a new stake in Palmer Square Capital BDC in the second quarter worth approximately $173,000. Marble Harbor Investment Counsel LLC bought a new position in Palmer Square Capital BDC during the 2nd quarter valued at $315,000. Confluence Investment Management LLC increased its position in shares of Palmer Square Capital BDC by 70.5% during the 2nd quarter. Confluence Investment Management LLC now owns 85,240 shares of the company’s stock valued at $1,377,000 after purchasing an additional 35,240 shares during the period. Finally, Capstone Investment Advisors LLC bought a new stake in shares of Palmer Square Capital BDC in the 1st quarter worth $1,032,000. 6.52% of the stock is currently owned by institutional investors.

Palmer Square Capital BDC Price Performance

Shares of NYSE PSBD opened at $16.08 on Wednesday. Palmer Square Capital BDC has a 12-month low of $15.27 and a 12-month high of $17.12. The stock’s 50 day simple moving average is $16.33 and its 200 day simple moving average is $16.40.

Palmer Square Capital BDC (NYSE:PSBD) last posted 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 company had revenue of $36.55 million during the quarter, compared to the consensus estimate of $36.27 million. Sell-side analysts expect that Palmer Square Capital BDC will post 1.97 earnings per share for the current year.

Palmer Square Capital BDC Announces Dividend

The business 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. The ex-dividend date of this dividend is Friday, September 27th. This represents a $1.68 dividend on an annualized basis and a yield of 10.45%.

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.