Palmer Square Capital BDC Inc. (NYSE:PSBD) Receives $16.93 Average Price Target from Brokerages

Shares of Palmer Square Capital BDC Inc. (NYSE:PSBD) have earned a consensus recommendation of “Moderate Buy” from the seven research firms that are currently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $16.93.

Separately, Royal Bank of Canada reaffirmed an “outperform” rating and set a $17.00 target price on shares of Palmer Square Capital BDC in a report on Tuesday, August 13th.

Hedge Funds Weigh In On Palmer Square Capital BDC

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Apollo Management Holdings L.P. purchased a new stake in shares of Palmer Square Capital BDC in the 1st quarter valued at $9,713,000. Capstone Investment Advisors LLC purchased a new stake in shares of Palmer Square Capital BDC in the 1st quarter valued at $1,032,000. Confluence Investment Management LLC boosted its stake in shares of Palmer Square Capital BDC by 70.5% in the 2nd quarter. Confluence Investment Management LLC now owns 85,240 shares of the company’s stock valued at $1,377,000 after purchasing an additional 35,240 shares in the last quarter. Marble Harbor Investment Counsel LLC purchased a new stake in shares of Palmer Square Capital BDC in the 2nd quarter valued at $315,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of Palmer Square Capital BDC in the 2nd quarter valued at $173,000. Hedge funds and other institutional investors own 6.52% of the company’s stock.

Palmer Square Capital BDC Price Performance

NYSE PSBD opened at $15.76 on Wednesday. The company’s 50 day moving average is $16.28 and its 200-day moving average is $16.38. Palmer Square Capital BDC has a 12-month low of $15.27 and a 12-month high of $17.12.

Palmer Square Capital BDC (NYSE:PSBD) last posted its earnings results on Thursday, August 8th. The company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03). The firm had revenue of $36.55 million for the quarter, compared to the consensus estimate of $36.27 million. Palmer Square Capital BDC had a return on equity of 16.13% and a net margin of 64.65%. On average, equities analysts expect that Palmer Square Capital BDC will post 1.97 EPS for the current year.

Palmer Square Capital BDC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 14th. Shareholders of record on Friday, September 27th will be paid a $0.42 dividend. The ex-dividend date is Friday, September 27th. This represents a $1.68 dividend on an annualized basis and a yield of 10.66%.

About Palmer Square Capital BDC

Palmer Square Capital BDC Inc is an externally managed, non-diversified closed-end management investment company which primarily lends to and invests in corporate debt securities, including small to large private U.S. companies and has elected to be regulated as a business development company. Palmer Square Capital BDC Inc is based in MISSION WOODS, Kan.