Crescent Capital BDC, Inc. (NASDAQ:CCAP) Stock Position Increased by Sun Life Financial Inc.

Sun Life Financial Inc. increased its holdings in shares of Crescent Capital BDC, Inc. (NASDAQ:CCAP) by 8.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,843,766 shares of the company’s stock after buying an additional 137,684 shares during the period. Crescent Capital BDC comprises 2.1% of Sun Life Financial Inc.’s investment portfolio, making the stock its 10th largest holding. Sun Life Financial Inc. owned approximately 4.97% of Crescent Capital BDC worth $34,626,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CCAP. Relative Value Partners Group LLC raised its holdings in shares of Crescent Capital BDC by 2.1% in the 4th quarter. Relative Value Partners Group LLC now owns 383,121 shares of the company’s stock valued at $6,659,000 after purchasing an additional 7,834 shares in the last quarter. Condor Capital Management raised its position in shares of Crescent Capital BDC by 12.4% during the 2nd quarter. Condor Capital Management now owns 252,121 shares of the company’s stock worth $4,735,000 after acquiring an additional 27,801 shares in the last quarter. Quadrature Capital Ltd lifted its stake in Crescent Capital BDC by 32.6% during the fourth quarter. Quadrature Capital Ltd now owns 81,156 shares of the company’s stock worth $1,410,000 after purchasing an additional 19,936 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Crescent Capital BDC by 14.1% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 80,766 shares of the company’s stock worth $1,517,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Confluence Investment Management LLC grew its position in shares of Crescent Capital BDC by 3.0% in the 2nd quarter. Confluence Investment Management LLC now owns 71,623 shares of the company’s stock valued at $1,345,000 after buying an additional 2,108 shares during the last quarter. Institutional investors and hedge funds own 49.46% of the company’s stock.

Crescent Capital BDC Price Performance

Shares of NASDAQ CCAP opened at $18.77 on Wednesday. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.40 and a quick ratio of 1.40. The company has a market cap of $695.65 million, a PE ratio of 6.68 and a beta of 0.81. The stock has a fifty day moving average price of $18.44 and a 200 day moving average price of $18.04. Crescent Capital BDC, Inc. has a 1-year low of $15.03 and a 1-year high of $19.63.

Crescent Capital BDC (NASDAQ:CCAP) last issued its earnings results on Monday, August 12th. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.01. Crescent Capital BDC had a return on equity of 12.03% and a net margin of 51.61%. The business had revenue of $48.95 million during the quarter, compared to the consensus estimate of $48.05 million. During the same period in the prior year, the business posted $0.56 EPS. Sell-side analysts forecast that Crescent Capital BDC, Inc. will post 2.35 EPS for the current year.

Crescent Capital BDC Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.68 dividend on an annualized basis and a yield of 8.95%. This is an increase from Crescent Capital BDC’s previous quarterly dividend of $0.09. Crescent Capital BDC’s payout ratio is currently 59.79%.

Analysts Set New Price Targets

Several brokerages have issued reports on CCAP. Bank of America dropped their price objective on Crescent Capital BDC from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Wells Fargo & Company decreased their price target on shares of Crescent Capital BDC from $19.00 to $18.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 14th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Crescent Capital BDC from $18.50 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, May 23rd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Crescent Capital BDC currently has an average rating of “Moderate Buy” and a consensus price target of $18.80.

About Crescent Capital BDC

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.