Palmer Square Capital BDC (NYSE:PSBD) Shares Up 0.6% – Still a Buy?

Palmer Square Capital BDC Inc. (NYSE:PSBD) traded up 0.6% during trading on Monday . The stock traded as high as $16.10 and last traded at $16.09. 10,749 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 44,574 shares. The stock had previously closed at $16.00.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada reaffirmed an “outperform” rating and set a $17.00 price target on shares of Palmer Square Capital BDC in a research note on Tuesday, August 13th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $16.93.

Palmer Square Capital BDC Price Performance

The company has a market capitalization of $525.34 million and a P/E ratio of 8.38. The business’s 50-day moving average price is $16.00 and its two-hundred day moving average price is $16.26.

Palmer Square Capital BDC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Friday, December 27th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 10.44%. The ex-dividend date of this dividend is Friday, December 27th. Palmer Square Capital BDC’s dividend payout ratio is currently 87.50%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Hennion & Walsh Asset Management Inc. acquired a new stake in Palmer Square Capital BDC in the 3rd quarter valued at approximately $792,000. Renaissance Technologies LLC acquired a new position in Palmer Square Capital BDC during the 2nd quarter worth approximately $173,000. Marble Harbor Investment Counsel LLC bought a new position in shares of Palmer Square Capital BDC during the 2nd quarter worth approximately $315,000. Confluence Investment Management LLC raised its holdings in shares of Palmer Square Capital BDC by 22.1% in the third quarter. Confluence Investment Management LLC now owns 104,082 shares of the company’s stock valued at $1,697,000 after purchasing an additional 18,842 shares during the last quarter. Finally, FMR LLC lifted its position in shares of Palmer Square Capital BDC by 7.3% in the third quarter. FMR LLC now owns 383,125 shares of the company’s stock worth $6,245,000 after purchasing an additional 25,951 shares in the last quarter. Institutional investors own 6.52% of the company’s stock.

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.