Palmer Square Capital BDC Inc. (PSBD) to Distribute Quarterly Dividend of $0.36 on July 13th

Palmer Square Capital BDC Inc. (NYSE:PSBD) declared a quarterly dividend on Wednesday, May 6th. Investors of record on Friday, June 26th will be given a dividend of 0.36 per share on Monday, July 13th. This represents a c) annualized dividend and a yield of 13.4%. The ex-dividend date is Friday, June 26th.

Palmer Square Capital BDC Price Performance

Palmer Square Capital BDC stock opened at $10.74 on Wednesday. The stock has a market cap of $334.23 million, a price-to-earnings ratio of -10.33 and a beta of 0.83. Palmer Square Capital BDC has a 1 year low of $9.34 and a 1 year high of $14.98. The firm has a 50-day moving average of $10.77 and a two-hundred day moving average of $11.14.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PSBD shares. JPMorgan Chase & Co. decreased their price target on shares of Palmer Square Capital BDC from $11.50 to $10.00 and set a “neutral” rating for the company in a research note on Friday, March 13th. Royal Bank Of Canada dropped their price objective on Palmer Square Capital BDC from $12.00 to $11.00 and set a “sector perform” rating on the stock in a research note on Wednesday, May 27th. Zacks Research downgraded Palmer Square Capital BDC from a “hold” rating to a “strong sell” rating in a report on Friday, May 22nd. UBS Group decreased their target price on Palmer Square Capital BDC from $11.50 to $11.00 and set a “neutral” rating for the company in a research report on Monday, April 20th. Finally, Wall Street Zen cut Palmer Square Capital BDC from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $10.67.

Palmer Square Capital BDC Company Profile

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.