Crescent Capital BDC, Inc. (NASDAQ:CCAP) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Crescent Capital BDC, Inc. (NASDAQ:CCAP) have earned an average recommendation of “Moderate Buy” from the six ratings firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $19.17.

CCAP has been the subject of several research analyst reports. Keefe, Bruyette & Woods raised their price target on Crescent Capital BDC from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, November 25th. LADENBURG THALM/SH SH started coverage on Crescent Capital BDC in a research report on Monday, September 30th. They set a “buy” rating and a $20.00 target price for the company.

Crescent Capital BDC Trading Down 1.7 %

Shares of Crescent Capital BDC stock opened at $19.23 on Friday. Crescent Capital BDC has a twelve month low of $15.91 and a twelve month high of $20.03. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.14. The business has a 50-day moving average price of $18.87 and a 200-day moving average price of $18.68. The firm has a market cap of $712.70 million, a price-to-earnings ratio of 7.54 and a beta of 0.82.

Crescent Capital BDC Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 8.74%. The ex-dividend date is Tuesday, December 31st. This is a positive change from Crescent Capital BDC’s previous quarterly dividend of $0.07. Crescent Capital BDC’s dividend payout ratio (DPR) is 65.88%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CCAP. Franklin Resources Inc. increased its stake in Crescent Capital BDC by 35.2% in the 3rd quarter. Franklin Resources Inc. now owns 256,279 shares of the company’s stock worth $4,726,000 after buying an additional 66,713 shares during the period. Kovitz Investment Group Partners LLC bought a new stake in shares of Crescent Capital BDC during the third quarter valued at approximately $4,878,000. Stifel Financial Corp boosted its holdings in shares of Crescent Capital BDC by 53.1% in the third quarter. Stifel Financial Corp now owns 66,470 shares of the company’s stock valued at $1,230,000 after purchasing an additional 23,055 shares during the period. HighTower Advisors LLC grew its stake in Crescent Capital BDC by 0.5% in the third quarter. HighTower Advisors LLC now owns 141,838 shares of the company’s stock worth $2,624,000 after purchasing an additional 768 shares in the last quarter. Finally, Confluence Investment Management LLC increased its holdings in Crescent Capital BDC by 2.2% during the 3rd quarter. Confluence Investment Management LLC now owns 73,206 shares of the company’s stock worth $1,354,000 after purchasing an additional 1,583 shares during the period. Institutional investors own 49.46% of the company’s stock.

About Crescent Capital BDC

Crescent Capital BDC, Inc is as a business development company private equity / buyouts and loan fund. It specializes in directly investing. It specializes in middle market. The fund seeks to invest in United States.