Confluence Investment Management LLC Has $1.38 Million Position in Palmer Square Capital BDC Inc. (NYSE:PSBD)

Confluence Investment Management LLC raised its position in shares of Palmer Square Capital BDC Inc. (NYSE:PSBD) by 70.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 85,240 shares of the company’s stock after purchasing an additional 35,240 shares during the quarter. Confluence Investment Management LLC owned 0.26% of Palmer Square Capital BDC worth $1,377,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Apollo Management Holdings L.P. acquired a new stake in Palmer Square Capital BDC during the 1st quarter valued at $9,713,000. Dorsey & Whitney Trust CO LLC acquired a new position in shares of Palmer Square Capital BDC in the first quarter worth $170,000. Finally, Capstone Investment Advisors LLC acquired a new position in shares of Palmer Square Capital BDC in the first quarter worth $1,032,000. 6.52% of the stock is owned by institutional investors and hedge funds.

Palmer Square Capital BDC Trading Down 0.1 %

Palmer Square Capital BDC stock traded down $0.01 during mid-day trading on Friday, hitting $16.49. 17,804 shares of the company’s stock were exchanged, compared to its average volume of 47,745. Palmer Square Capital BDC Inc. has a 1-year low of $15.27 and a 1-year high of $17.12. The stock has a 50 day moving average of $16.43 and a two-hundred day moving average of $16.39.

Palmer Square Capital BDC (NYSE:PSBD) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. Palmer Square Capital BDC had a net margin of 84.94% and a return on equity of 18.90%. The company had revenue of $34.79 million during the quarter, compared to analysts’ expectations of $30.34 million. On average, analysts forecast that Palmer Square Capital BDC Inc. will post 2.01 earnings per share for the current fiscal year.

Palmer Square Capital BDC Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 16th. Shareholders of record on Friday, June 28th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 10.19%. The ex-dividend date was Friday, June 28th.

Wall Street Analysts Forecast Growth

Separately, Janney Montgomery Scott initiated coverage on shares of Palmer Square Capital BDC in a research note on Monday, April 22nd. They issued a “neutral” rating and a $17.50 price target on the stock. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.93.

Palmer Square Capital BDC Company Profile

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.