Palmer Square Capital BDC (NYSE:PSBD) Shares Gap Up to $16.08

Shares of Palmer Square Capital BDC Inc. (NYSE:PSBD) gapped up prior to trading on Wednesday . The stock had previously closed at $16.08, but opened at $16.50. Palmer Square Capital BDC shares last traded at $16.34, with a volume of 1,263 shares changing hands.

Wall Street Analyst Weigh In

Separately, Janney Montgomery Scott assumed 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 objective on the stock. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $16.93.

Palmer Square Capital BDC Trading Up 0.6 %

The stock’s 50 day simple moving average is $16.54.

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

Palmer Square Capital BDC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 16th. Stockholders of record on Friday, June 28th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 10.39%. The ex-dividend date is Friday, June 28th.

Institutional Investors Weigh In On Palmer Square Capital BDC

A number of hedge funds and other institutional investors have recently bought and sold shares of PSBD. Apollo Management Holdings L.P. purchased a new stake in shares of Palmer Square Capital BDC during the 1st quarter worth approximately $9,713,000. Capstone Investment Advisors LLC acquired a new position in Palmer Square Capital BDC during the first quarter worth $1,032,000. Confluence Investment Management LLC boosted its position in Palmer Square Capital BDC by 70.5% during the second quarter. Confluence Investment Management LLC now owns 85,240 shares of the company’s stock worth $1,377,000 after purchasing an additional 35,240 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC acquired a new stake in Palmer Square Capital BDC in the first quarter valued at $170,000. Institutional investors and hedge funds own 6.52% of the company’s stock.

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.