Wells Fargo & Company Has Lowered Expectations for Crescent Capital BDC (NASDAQ:CCAP) Stock Price

Crescent Capital BDC (NASDAQ:CCAP) had its price target decreased by Wells Fargo & Company from $16.00 to $15.00 in a research report report published on Friday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Separately, Keefe, Bruyette & Woods lowered Crescent Capital BDC from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $18.50 to $17.00 in a research note on Friday. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Crescent Capital BDC has a consensus rating of “Moderate Buy” and an average target price of $17.60.

Crescent Capital BDC Stock Performance

NASDAQ CCAP opened at $15.42 on Friday. The stock has a 50-day simple moving average of $16.19 and a two-hundred day simple moving average of $18.07. The firm has a market capitalization of $571.47 million, a P/E ratio of 7.75 and a beta of 0.63. Crescent Capital BDC has a fifty-two week low of $13.54 and a fifty-two week high of $20.19. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.26 and a current ratio of 1.32.

Crescent Capital BDC (NASDAQ:CCAP) last released its quarterly earnings data on Wednesday, May 14th. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.07). The company had revenue of $42.13 million for the quarter, compared to analysts’ expectations of $45.08 million. Crescent Capital BDC had a net margin of 37.32% and a return on equity of 11.90%. On average, equities analysts forecast that Crescent Capital BDC will post 2.09 earnings per share for the current year.

Crescent Capital BDC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.68 annualized dividend and a dividend yield of 10.89%. Crescent Capital BDC’s dividend payout ratio is presently 84.42%.

Hedge Funds Weigh In On Crescent Capital BDC

Several institutional investors and hedge funds have recently modified their holdings of the business. Almitas Capital LLC purchased a new position in shares of Crescent Capital BDC in the 1st quarter valued at about $414,000. Royal Bank of Canada increased its stake in shares of Crescent Capital BDC by 3.6% in the 1st quarter. Royal Bank of Canada now owns 61,707 shares of the company’s stock valued at $1,056,000 after purchasing an additional 2,128 shares in the last quarter. Ieq Capital LLC increased its stake in shares of Crescent Capital BDC by 3.5% in the 1st quarter. Ieq Capital LLC now owns 23,518 shares of the company’s stock valued at $403,000 after purchasing an additional 793 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its stake in shares of Crescent Capital BDC by 39.5% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 63,893 shares of the company’s stock valued at $1,094,000 after purchasing an additional 18,078 shares in the last quarter. Finally, Ethos Financial Group LLC purchased a new position in shares of Crescent Capital BDC in the 1st quarter valued at about $445,000. Hedge funds and other 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.