Palmer Square Capital BDC Inc. (NYSE:PSBD – Get Free Report) has been assigned a consensus recommendation of “Hold” from the five brokerages that are covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $10.50.
A number of research firms have recently weighed in on PSBD. JPMorgan Chase & Co. lowered their price objective on Palmer Square Capital BDC from $10.00 to $9.50 and set a “neutral” rating for the company in a research report on Thursday, July 2nd. Zacks Research raised Palmer Square Capital BDC from a “strong sell” rating to a “hold” rating in a report on Monday, August 10th. UBS Group dropped their price target on Palmer Square Capital BDC from $11.00 to $10.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 1st. Wall Street Zen raised shares of Palmer Square Capital BDC from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Noble Financial initiated coverage on shares of Palmer Square Capital BDC in a report on Wednesday, June 24th. They issued a “neutral” rating for the company.
View Our Latest Report on PSBD
Palmer Square Capital BDC Stock Up 1.2%
Palmer Square Capital BDC (NYSE:PSBD – Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.16). The firm had revenue of $27.30 million during the quarter, compared to analyst estimates of $25.97 million. Palmer Square Capital BDC had a negative net margin of 26.73% and a positive return on equity of 11.22%. On average, equities research analysts anticipate that Palmer Square Capital BDC will post 1.5 earnings per share for the current fiscal year.
Palmer Square Capital BDC Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 13th. Investors of record on Friday, September 25th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 14.9%. The ex-dividend date of this dividend is Friday, September 25th. Palmer Square Capital BDC’s dividend payout ratio is presently -145.45%.
Institutional Trading of Palmer Square Capital BDC
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Catalyst Capital Advisors LLC acquired a new position in shares of Palmer Square Capital BDC in the first quarter valued at about $33,000. Harbour Investments Inc. purchased a new stake in Palmer Square Capital BDC in the fourth quarter valued at approximately $85,000. TrueMark Investments LLC purchased a new stake in Palmer Square Capital BDC in the first quarter valued at approximately $188,000. Nottingham Advisors Inc. acquired a new position in Palmer Square Capital BDC in the 1st quarter worth approximately $305,000. Finally, Waterfront Wealth Inc. purchased a new position in Palmer Square Capital BDC during the 1st quarter worth approximately $413,000. Institutional investors and hedge funds own 6.52% of the company’s stock.
About Palmer Square Capital BDC
Palmer Square Capital BDC, Inc (NYSE: PSBD) is a business development company focused on providing financing to middle-market companies. The company seeks to generate current income and, to a lesser extent, capital appreciation by investing in privately negotiated debt and other securities.
Its portfolio primarily consists of senior secured loans and other debt investments, with the potential to invest in subordinated debt, equity securities and related instruments. Through these investments, Palmer Square Capital BDC provides capital to companies that may not have access to traditional bank financing or public debt markets.
Palmer Square Capital BDC is externally managed by an affiliate of Palmer Square Capital Management, an investment management firm specializing in credit and structured finance.
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