Palmer Square Capital BDC Inc. (NYSE:PSBD) Stock Has Average Target Price of $10.50 According to Analysts

Palmer Square Capital BDC Inc. (NYSE:PSBD) has been given an average rating of “Hold” by the five brokerages that are covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating. The average 1 year price target among brokers that have covered the stock in the last year is $10.50.

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

Palmer Square Capital BDC Price Performance

Palmer Square Capital BDC stock opened at $9.94 on Tuesday. Palmer Square Capital BDC has a 12 month low of $9.34 and a 12 month high of $12.71. The company has a fifty day moving average price of $10.02 and a two-hundred day moving average price of $10.53. The company has a market cap of $304.66 million, a PE ratio of -10.04 and a beta of 0.87.

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

Palmer Square Capital BDC Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 13th. Stockholders of record on Friday, September 25th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 14.5%. The ex-dividend date was Friday, September 25th. Palmer Square Capital BDC’s dividend payout ratio is presently -145.45%.

Institutional Trading of Palmer Square Capital BDC

Several hedge funds have recently made changes to their positions in the stock. OV Management LLC acquired a new stake in Palmer Square Capital BDC in the second quarter worth $38,867,000. Squarepoint Ops LLC bought a new stake in Palmer Square Capital BDC in the second quarter valued at $1,362,000. Rivernorth Capital Management LLC lifted its stake in Palmer Square Capital BDC by 43.8% in the first quarter. Rivernorth Capital Management LLC now owns 834,603 shares of the company’s stock valued at $8,154,000 after buying an additional 254,061 shares during the last quarter. NewGen Asset Management Ltd acquired a new position in shares of Palmer Square Capital BDC during the first quarter valued at $720,000. Finally, Bank of America Corp DE boosted its holdings in shares of Palmer Square Capital BDC by 10.9% during the first quarter. Bank of America Corp DE now owns 576,931 shares of the company’s stock valued at $5,637,000 after acquiring an additional 56,547 shares during the period. Institutional investors own 6.52% of the company’s stock.

About Palmer Square Capital BDC

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.