Palmer Square Capital BDC (PSBD) Expected to Announce Quarterly Earnings on Thursday

Palmer Square Capital BDC (NYSE:PSBD) is expected to be issuing its results before the market opens on Thursday, February 26th. Analysts expect the company to announce earnings of $0.42 per share and revenue of $30.1140 million for the quarter.

Palmer Square Capital BDC Stock Up 0.5%

Shares of PSBD opened at $10.91 on Wednesday. The stock has a market cap of $343.32 million, a price-to-earnings ratio of 25.36 and a beta of 0.68. Palmer Square Capital BDC has a 12 month low of $10.77 and a 12 month high of $15.64. The company has a 50-day moving average price of $11.78 and a two-hundred day moving average price of $12.45.

Palmer Square Capital BDC Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 14th. Investors of record on Monday, December 29th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 13.2%. The ex-dividend date was Monday, December 29th. Palmer Square Capital BDC’s dividend payout ratio (DPR) is 334.88%.

Institutional Investors Weigh In On Palmer Square Capital BDC

Institutional investors have recently modified their holdings of the business. XTX Topco Ltd acquired a new position in shares of Palmer Square Capital BDC in the 4th quarter valued at approximately $351,000. Rivernorth Capital Management LLC bought a new stake in shares of Palmer Square Capital BDC in the fourth quarter worth $7,077,000. Trexquant Investment LP boosted its holdings in Palmer Square Capital BDC by 17.6% during the fourth quarter. Trexquant Investment LP now owns 50,118 shares of the company’s stock worth $611,000 after purchasing an additional 7,496 shares during the last quarter. Jane Street Group LLC lifted its position in Palmer Square Capital BDC by 187.3% during the 4th quarter. Jane Street Group LLC now owns 39,531 shares of the company’s stock worth $482,000 after buying an additional 25,771 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Palmer Square Capital BDC by 18.8% during the 4th quarter. Renaissance Technologies LLC now owns 183,000 shares of the company’s stock worth $2,231,000 after buying an additional 28,900 shares during the last quarter. Institutional investors and hedge funds own 6.52% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on PSBD. Royal Bank Of Canada lowered Palmer Square Capital BDC from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, November 26th. UBS Group reduced their target price on shares of Palmer Square Capital BDC from $13.50 to $13.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 19th. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Palmer Square Capital BDC currently has an average rating of “Hold” and an average target price of $13.00.

About Palmer Square Capital BDC

Palmer Square Capital BDC Inc (NYSE: PSBD) is a closed-end, externally managed business development company that provides customized financing solutions to middle-market companies in the United States. The firm offers a broad range of debt and equity products—including first-lien and second-lien senior secured loans, unitranche financings, mezzanine debt and equity co-investments—to support corporate acquisitions, refinancings, growth initiatives and balance sheet restructurings.

PSBD primarily targets established privately owned and sponsored businesses across diverse industries such as healthcare, business services, industrials and consumer products.