Crescent Capital BDC (NASDAQ:CCAP) Price Target Cut to $14.00 by Analysts at Wells Fargo & Company

Crescent Capital BDC (NASDAQ:CCAP) had its target price reduced by Wells Fargo & Company from $15.00 to $14.00 in a research note issued to investors on Friday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

A number of other brokerages have also weighed in on CCAP. LADENBURG THALM/SH SH upgraded Crescent Capital BDC to a “strong-buy” rating in a research note on Friday, August 15th. Zacks Research lowered shares of Crescent Capital BDC from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 15th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Crescent Capital BDC from $17.00 to $15.50 and set an “outperform” rating for the company in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $16.38.

Crescent Capital BDC Trading Up 0.5%

Shares of NASDAQ CCAP traded up $0.07 during midday trading on Friday, hitting $13.66. The stock had a trading volume of 222,185 shares, compared to its average volume of 180,772. The company has a quick ratio of 1.27, a current ratio of 1.20 and a debt-to-equity ratio of 1.23. Crescent Capital BDC has a 1-year low of $13.30 and a 1-year high of $20.19. The company has a market capitalization of $505.28 million, a price-to-earnings ratio of 13.94 and a beta of 0.57. The company has a fifty day moving average price of $14.51 and a 200 day moving average price of $14.84.

Crescent Capital BDC (NASDAQ:CCAP) last announced its quarterly earnings results on Wednesday, November 12th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.01). The company had revenue of $41.35 million during the quarter, compared to analyst estimates of $42.35 million. Crescent Capital BDC had a net margin of 20.84% and a return on equity of 9.76%. On average, analysts predict that Crescent Capital BDC will post 2.09 earnings per share for the current year.

Crescent Capital BDC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 12.3%. The ex-dividend date of this dividend is Wednesday, December 31st. Crescent Capital BDC’s dividend payout ratio (DPR) is 140.00%.

Insiders Place Their Bets

In other news, Director Raymond Barrios bought 3,245 shares of Crescent Capital BDC stock in a transaction on Monday, August 25th. The stock was purchased at an average cost of $15.63 per share, with a total value of $50,719.35. Following the purchase, the director directly owned 19,177 shares of the company’s stock, valued at approximately $299,736.51. This trade represents a 20.37% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.14% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Crescent Capital BDC

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Catalyst Capital Advisors LLC bought a new stake in Crescent Capital BDC during the 2nd quarter valued at $69,000. Westbourne Investments Inc. bought a new stake in shares of Crescent Capital BDC during the third quarter valued at about $141,000. XTX Topco Ltd acquired a new stake in Crescent Capital BDC in the second quarter worth about $165,000. Catalina Capital Group LLC acquired a new stake in Crescent Capital BDC in the second quarter worth about $174,000. Finally, Seven Mile Advisory bought a new position in Crescent Capital BDC in the 3rd quarter valued at about $189,000. 49.46% of the stock is owned by institutional investors.

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.