Palmer Square Capital BDC’s (PSBD) Neutral Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. reissued their neutral rating on shares of Palmer Square Capital BDC (NYSE:PSBD) in a research report report published on Wednesday, MarketBeat.com reports. The brokerage currently has a $12.00 price objective on the stock, down from their prior price objective of $14.00.

PSBD has been the subject of a number of other reports. Wall Street Zen upgraded shares of Palmer Square Capital BDC from a “sell” rating to a “hold” rating in a research report on Friday, June 27th. UBS Group reiterated a “neutral” rating and issued a $14.50 price target on shares of Palmer Square Capital BDC in a research report on Wednesday, July 16th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Palmer Square Capital BDC presently has a consensus rating of “Hold” and an average target price of $13.88.

Palmer Square Capital BDC Trading Up 0.4%

Shares of PSBD stock opened at $12.27 on Wednesday. Palmer Square Capital BDC has a 12 month low of $11.51 and a 12 month high of $16.32. The stock has a market cap of $394.24 million, a P/E ratio of 21.91 and a beta of 0.71. The company has a 50 day simple moving average of $13.60 and a two-hundred day simple moving average of $13.65.

Palmer Square Capital BDC (NYSE:PSBD) last announced its earnings results on Wednesday, August 6th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. Palmer Square Capital BDC had a net margin of 13.51% and a return on equity of 10.91%. The business had revenue of $31.68 million during the quarter, compared to analysts’ expectations of $30.29 million. As a group, equities analysts forecast that Palmer Square Capital BDC will post 1.96 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 Tuesday, October 14th. Investors of record on Friday, September 26th will be given a dividend of $0.36 per share. The ex-dividend date is Friday, September 26th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 11.7%. Palmer Square Capital BDC’s dividend payout ratio is currently 257.14%.

Hedge Funds Weigh In On Palmer Square Capital BDC

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Gibson Capital LLC bought a new position in shares of Palmer Square Capital BDC during the second quarter worth $174,000. Bank of America Corp DE boosted its position in shares of Palmer Square Capital BDC by 5.0% during the second quarter. Bank of America Corp DE now owns 300,575 shares of the company’s stock worth $4,196,000 after acquiring an additional 14,220 shares during the last quarter. Jane Street Group LLC bought a new position in shares of Palmer Square Capital BDC during the first quarter worth $360,000. Arlington Partners LLC boosted its position in shares of Palmer Square Capital BDC by 11.1% during the first quarter. Arlington Partners LLC now owns 333,765 shares of the company’s stock worth $4,446,000 after acquiring an additional 33,276 shares during the last quarter. Finally, Atwood & Palmer Inc. bought a new position in shares of Palmer Square Capital BDC during the first quarter worth $453,000. Institutional investors 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.