Crescent Capital BDC (NASDAQ:CCAP) Sets New 52-Week High – What’s Next?

Crescent Capital BDC, Inc. (NASDAQ:CCAP) reached a new 52-week high on Tuesday . The company traded as high as $20.19 and last traded at $20.03, with a volume of 8674 shares traded. The stock had previously closed at $19.95.

Analysts Set New Price Targets

CCAP has been the topic of a number of recent research reports. Wells Fargo & Company boosted their price objective on Crescent Capital BDC from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods lifted their target price on Crescent Capital BDC from $19.00 to $20.00 and gave the company an “outperform” rating in a research report on Monday, November 25th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.33.

Crescent Capital BDC Price Performance

The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.14. The company has a market cap of $741.20 million, a PE ratio of 7.84 and a beta of 0.81. The stock has a 50-day simple moving average of $19.47 and a 200 day simple moving average of $18.84.

Crescent Capital BDC Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 8.40%. The ex-dividend date of this dividend was Tuesday, December 31st. This is an increase from Crescent Capital BDC’s previous quarterly dividend of $0.07. Crescent Capital BDC’s payout ratio is currently 65.88%.

Institutional Investors Weigh In On Crescent Capital BDC

Institutional investors and hedge funds have recently modified their holdings of the company. Janney Montgomery Scott LLC raised its holdings in shares of Crescent Capital BDC by 174.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 47,264 shares of the company’s stock valued at $874,000 after buying an additional 30,018 shares during the period. Franklin Resources Inc. grew its stake in Crescent Capital BDC by 35.2% during the 3rd quarter. Franklin Resources Inc. now owns 256,279 shares of the company’s stock worth $4,726,000 after purchasing an additional 66,713 shares in the last quarter. Stifel Financial Corp grew its stake in Crescent Capital BDC by 53.1% during the 3rd quarter. Stifel Financial Corp now owns 66,470 shares of the company’s stock worth $1,230,000 after purchasing an additional 23,055 shares in the last quarter. Sun Life Financial Inc. grew its stake in Crescent Capital BDC by 20.7% during the 3rd quarter. Sun Life Financial Inc. now owns 2,226,308 shares of the company’s stock worth $41,187,000 after purchasing an additional 382,542 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new position in Crescent Capital BDC during the 3rd quarter worth $1,899,000. Hedge funds and other institutional investors own 49.46% of the company’s stock.

Crescent Capital BDC Company Profile

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.