Crescent Capital BDC (NASDAQ:CCAP) Sees Large Volume Increase Following Dividend Announcement

Crescent Capital BDC, Inc. (NASDAQ:CCAP) shares saw an uptick in trading volume on Thursday after the company announced a dividend. 167,409 shares were traded during trading, an increase of 90% from the previous session’s volume of 88,297 shares.The stock last traded at $19.15 and had previously closed at $20.00.

The newly announced dividend which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a dividend of $0.05 per share. The ex-dividend date is Friday, February 28th. Crescent Capital BDC’s dividend payout ratio is presently 84.42%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CCAP shares. Wells Fargo & Company lowered their price objective on shares of Crescent Capital BDC from $19.00 to $18.00 and set an “equal weight” rating on the stock in a report on Friday. Keefe, Bruyette & Woods increased their target price on shares of Crescent Capital BDC from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, November 25th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $19.17.

Crescent Capital BDC Price Performance

The business’s fifty day moving average is $19.43 and its 200-day moving average is $18.87. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.32 and a quick ratio of 1.26. The firm has a market cap of $682.46 million, a PE ratio of 9.25 and a beta of 0.81.

Crescent Capital BDC (NASDAQ:CCAP) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). Crescent Capital BDC had a return on equity of 11.90% and a net margin of 37.32%. The company had revenue of $46.40 million for the quarter, compared to analysts’ expectations of $47.27 million. On average, research analysts predict that Crescent Capital BDC, Inc. will post 2.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Crescent Capital BDC

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Montag A & Associates Inc. bought a new position in Crescent Capital BDC during the fourth quarter worth about $35,000. C M Bidwell & Associates Ltd. bought a new position in Crescent Capital BDC during the fourth quarter worth about $39,000. Aquatic Capital Management LLC bought a new position in Crescent Capital BDC during the fourth quarter worth about $129,000. Generation Capital Management LLC bought a new position in Crescent Capital BDC during the fourth quarter worth about $192,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Crescent Capital BDC during the fourth quarter worth about $218,000. Institutional investors own 49.46% of the company’s stock.

Crescent Capital BDC Company Profile

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.