Palmer Square Capital BDC Inc. (NYSE:PSBD) Stock Has Consensus Target Price of $10.50

Palmer Square Capital BDC Inc. (NYSE:PSBD) has been assigned a consensus rating of “Hold” from the five ratings firms that are currently covering the stock, MarketBeat reports. Five analysts have rated the stock with a hold rating. The average 12-month target price among analysts that have issued a report on the stock in the last year is $10.50.

Several equities research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Palmer Square Capital BDC from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Zacks Research upgraded shares of Palmer Square Capital BDC from a “strong sell” rating to a “hold” rating in a research note on Monday, August 10th. Finally, UBS Group reduced their price target on shares of Palmer Square Capital BDC from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Tuesday, September 1st.

Institutional Investors Weigh In On Palmer Square Capital BDC

Several hedge funds have recently made changes to their positions in the stock. OV Management LLC acquired a new position in Palmer Square Capital BDC in the 2nd quarter valued at approximately $38,867,000. Rivernorth Capital Management LLC lifted its position in shares of Palmer Square Capital BDC by 43.8% in the 1st quarter. Rivernorth Capital Management LLC now owns 834,603 shares of the company’s stock worth $8,154,000 after acquiring an additional 254,061 shares during the period. Bank of America Corp DE lifted its position in shares of Palmer Square Capital BDC by 10.9% in the 1st quarter. Bank of America Corp DE now owns 576,931 shares of the company’s stock worth $5,637,000 after acquiring an additional 56,547 shares during the period. Opal Wealth Advisors LLC lifted its position in shares of Palmer Square Capital BDC by 10.4% in the 3rd quarter. Opal Wealth Advisors LLC now owns 175,728 shares of the company’s stock worth $1,738,000 after acquiring an additional 16,488 shares during the period. Finally, Squarepoint Ops LLC acquired a new stake in shares of Palmer Square Capital BDC during the 2nd quarter worth approximately $1,362,000. Institutional investors own 6.52% of the company’s stock.

Palmer Square Capital BDC Stock Performance

NYSE PSBD opened at $10.06 on Tuesday. Palmer Square Capital BDC has a twelve month low of $9.34 and a twelve month high of $12.71. The stock has a market capitalization of $308.49 million, a PE ratio of 6.28 and a beta of 0.87. The stock has a 50-day simple moving average of $10.01 and a 200 day simple moving average of $10.52.

Palmer Square Capital BDC (NYSE:PSBD) last announced its earnings results on Wednesday, August 5th. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.16). The business had revenue of $27.30 million for the quarter, compared to the consensus estimate of $25.97 million. Palmer Square Capital BDC had a negative net margin of 26.73% and a positive return on equity of 11.22%. As a group, equities research analysts forecast that Palmer Square Capital BDC will post 1.50 EPS for the current fiscal year.

Palmer Square Capital BDC Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 13th. Stockholders of record on Friday, September 25th were issued a dividend of $0.36 per share. The ex-dividend date was Friday, September 25th. This represents a $1.44 annualized dividend and a dividend yield of 14.3%. Palmer Square Capital BDC’s payout ratio is presently -145.45%.

Palmer Square Capital BDC Company Profile

Palmer Square Capital BDC, Inc is an externally managed business development company that seeks to provide financing to private middle-market companies. The company focuses primarily on privately originated and negotiated investments in senior secured loans and other debt instruments, with the goal of supporting businesses while generating current income for shareholders.

Palmer Square Capital BDC may invest across a range of industries and capital structures, including first-lien and unitranche loans, second-lien and subordinated debt, and select equity investments.