Sunesis Advisors LLC Invests $3.67 Million in Palmer Square Capital BDC Inc. $PSBD

Sunesis Advisors LLC purchased a new stake in shares of Palmer Square Capital BDC Inc. (NYSE:PSBD) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 298,959 shares of the company’s stock, valued at approximately $3,668,000. Palmer Square Capital BDC comprises 1.7% of Sunesis Advisors LLC’s portfolio, making the stock its 10th largest position. Sunesis Advisors LLC owned approximately 0.93% of Palmer Square Capital BDC as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Bank of America Corp DE grew its position in shares of Palmer Square Capital BDC by 5.0% during the second quarter. Bank of America Corp DE now owns 300,575 shares of the company’s stock worth $4,196,000 after buying an additional 14,220 shares in the last quarter. UMB Bank n.a. acquired a new stake in Palmer Square Capital BDC in the third quarter valued at about $1,000,000. Mid American Wealth Advisory Group Inc. acquired a new position in Palmer Square Capital BDC during the 3rd quarter worth approximately $367,000. Jane Street Group LLC purchased a new position in shares of Palmer Square Capital BDC during the 1st quarter worth approximately $360,000. Finally, Confluence Investment Management LLC raised its stake in shares of Palmer Square Capital BDC by 18.7% during the 3rd quarter. Confluence Investment Management LLC now owns 25,763 shares of the company’s stock worth $316,000 after buying an additional 4,065 shares in the last quarter. 6.52% of the stock is currently owned by institutional investors and hedge funds.

Palmer Square Capital BDC Stock Performance

Palmer Square Capital BDC stock opened at $11.44 on Monday. Palmer Square Capital BDC Inc. has a fifty-two week low of $11.41 and a fifty-two week high of $16.05. The company has a market capitalization of $360.13 million, a price-to-earnings ratio of 26.60 and a beta of 0.68. The stock has a fifty day moving average of $12.01 and a two-hundred day moving average of $12.67.

Palmer Square Capital BDC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 14th. Shareholders of record on Monday, December 29th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 12.6%. The ex-dividend date was Monday, December 29th. Palmer Square Capital BDC’s payout ratio is currently 334.88%.

Analyst Ratings Changes

PSBD has been the topic of a number of analyst reports. UBS Group decreased their price target on Palmer Square Capital BDC from $13.50 to $13.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 19th. Royal Bank Of Canada lowered shares of Palmer Square Capital BDC from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, November 26th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $13.00.

Palmer Square Capital BDC Profile

Palmer Square Capital BDC Inc (NYSE: PSBD) is a closed-end, externally managed business development company that provides customized financing solutions to middle-market companies in the United States. The firm offers a broad range of debt and equity products—including first-lien and second-lien senior secured loans, unitranche financings, mezzanine debt and equity co-investments—to support corporate acquisitions, refinancings, growth initiatives and balance sheet restructurings.

PSBD primarily targets established privately owned and sponsored businesses across diverse industries such as healthcare, business services, industrials and consumer products.