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

Shares of Palmer Square Capital BDC Inc. (NYSE:PSBD) have been assigned an average recommendation of “Moderate Buy” from the seven analysts that are currently covering the stock, Marketbeat reports. Three investment 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 analysts that have covered the stock in the last year is $16.93.

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

Palmer Square Capital BDC Stock Performance

PSBD stock opened at $16.25 on Friday. Palmer Square Capital BDC has a 52 week low of $15.27 and a 52 week high of $17.12. The firm has a 50 day moving average of $16.21 and a 200 day moving average of $16.37.

Palmer Square Capital BDC (NYSE:PSBD) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.48 earnings per share 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 for the quarter, compared to analysts’ expectations of $36.27 million. As a group, analysts predict that Palmer Square Capital BDC will post 1.97 EPS for the current fiscal year.

Palmer Square Capital BDC Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 14th. Shareholders of record on Friday, September 27th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 10.34%. The ex-dividend date was Friday, September 27th.

Institutional Trading of Palmer Square Capital BDC

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Capstone Investment Advisors LLC acquired a new stake in Palmer Square Capital BDC during the first quarter valued at $1,032,000. Confluence Investment Management LLC boosted its stake 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 worth $1,377,000 after acquiring an additional 35,240 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Palmer Square Capital BDC during the 2nd quarter valued at about $173,000. Dorsey & Whitney Trust CO LLC purchased a new position in shares of Palmer Square Capital BDC in the 1st quarter valued at about $170,000. Finally, Marble Harbor Investment Counsel LLC acquired a new position in Palmer Square Capital BDC in the 2nd quarter worth about $315,000. 6.52% of the stock is owned by institutional investors and hedge funds.

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.