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

Shares of Palmer Square Capital BDC Inc. (NYSE:PSBD) have been assigned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $16.93.

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

Palmer Square Capital BDC Price Performance

Shares of Palmer Square Capital BDC stock opened at $16.37 on Friday. The firm has a 50-day moving average of $16.32 and a 200-day moving average of $16.39. Palmer Square Capital BDC has a 52-week low of $15.27 and a 52-week high of $17.12.

Palmer Square Capital BDC (NYSE:PSBD) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.03). Palmer Square Capital BDC had a return on equity of 16.13% and a net margin of 64.65%. The firm had revenue of $36.55 million for the quarter, compared to the consensus estimate of $36.27 million. As a group, equities analysts forecast that Palmer Square Capital BDC will post 1.97 earnings per share for the current year.

Palmer Square Capital BDC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 14th. Shareholders of record on Friday, September 27th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 10.26%. The ex-dividend date of this dividend is Friday, September 27th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PSBD. Capstone Investment Advisors LLC acquired a new position in Palmer Square Capital BDC during the first quarter worth about $1,032,000. Dorsey & Whitney Trust CO LLC acquired a new position in Palmer Square Capital BDC during the first quarter worth about $170,000. Apollo Management Holdings L.P. acquired a new position in Palmer Square Capital BDC during the first quarter worth about $9,713,000. Confluence Investment Management LLC raised its stake in Palmer Square Capital BDC by 70.5% during the second 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. Finally, Marble Harbor Investment Counsel LLC acquired a new position in Palmer Square Capital BDC during the second quarter worth about $315,000. Institutional investors and hedge funds own 6.52% of the company’s stock.

Palmer Square Capital BDC Company Profile

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.