Wall Street Zen upgraded shares of Palmer Square Capital BDC (NYSE:PSBD – Free Report) from a hold rating to a buy rating in a research note released on Saturday morning,Wall Street Zen reports.
Other research analysts have also issued research reports about the stock. Zacks Research raised shares of Palmer Square Capital BDC from a “strong sell” rating to a “hold” rating in a research note on Monday, August 10th. UBS Group reduced their price target on shares of 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. Five investment analysts have rated the stock with a Hold rating. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $10.50.
Get Our Latest Analysis on Palmer Square Capital BDC
Palmer Square Capital BDC Price Performance
Shares of NYSE PSBD opened at $9.88 on Friday. The company has a market capitalization of $302.85 million, a P/E ratio of 6.53 and a beta of 0.85. The company has a 50 day simple moving average of $9.97 and a 200-day simple moving average of $10.47. Palmer Square Capital BDC has a 1 year low of $9.34 and a 1 year high of $12.45.
Palmer Square Capital BDC (NYSE:PSBD – Get Free Report) last posted its earnings results on Wednesday, November 4th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.06. Palmer Square Capital BDC had a positive return on equity of 11.16% and a negative net margin of 18.27%. The company had revenue of $26.57 million during the quarter, compared to analysts’ expectations of $26.69 million. As a group, research analysts expect that Palmer Square Capital BDC will post 1.50 EPS for the current year.
Palmer Square Capital BDC Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 13th. Stockholders of record on Monday, December 28th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Monday, December 28th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 14.6%. Palmer Square Capital BDC’s payout ratio is presently -228.57%.
Institutional Investors Weigh In On Palmer Square Capital BDC
Several institutional investors and hedge funds have recently modified their holdings of PSBD. AlphaCentric Advisors LLC purchased a new stake in shares of Palmer Square Capital BDC during the third quarter worth $198,000. SMH Capital Advisors Inc. purchased a new position in Palmer Square Capital BDC in the third quarter valued at $192,000. Opal Wealth Advisors LLC boosted its holdings in Palmer Square Capital BDC by 10.4% in the third quarter. Opal Wealth Advisors LLC now owns 175,728 shares of the company’s stock valued at $1,738,000 after purchasing an additional 16,488 shares during the period. Thor Investment Management Inc. OH ADV purchased a new position in Palmer Square Capital BDC in the third quarter valued at $769,000. Finally, Squarepoint Ops LLC acquired a new position in Palmer Square Capital BDC during the 2nd quarter worth $1,362,000. Hedge funds and other institutional investors own 6.52% of the company’s stock.
About Palmer Square Capital BDC
Palmer Square Capital BDC, Inc is an externally managed business development company that seeks to provide financing to private middle-market companies. The company focuses primarily on privately originated and negotiated investments in senior secured loans and other debt instruments, with the goal of supporting businesses while generating current income for shareholders.
Palmer Square Capital BDC may invest across a range of industries and capital structures, including first-lien and unitranche loans, second-lien and subordinated debt, and select equity investments.
Further Reading
- Five stocks we like better than Palmer Square Capital BDC
- Wall Street May Be Making a Big Mistake With monday.com Stock
- Are These 2 Mid-Cap Growth Stocks Worth the Risk?
- Oklo Changes the Narrative: Does a Nuclear Stock Price Explosion Come Next?
- Cloudflare’s 20% Sell-Off May Have Created an Opening for Investors
Receive News & Ratings for Palmer Square Capital BDC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Palmer Square Capital BDC and related companies with MarketBeat.com's FREE daily email newsletter.
