Palmer Square Capital BDC (NYSE:PSBD) Issues Earnings Results

Palmer Square Capital BDC (NYSE:PSBD) announced its quarterly earnings data on Thursday. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.01), Zacks reports. The company had revenue of ($0.31) million during the quarter, compared to analyst estimates of $30.11 million. Palmer Square Capital BDC had a net margin of 10.85% and a return on equity of 10.77%.

Palmer Square Capital BDC Trading Down 2.0%

NYSE:PSBD traded down $0.21 on Friday, hitting $10.44. The company had a trading volume of 130,340 shares, compared to its average volume of 83,560. Palmer Square Capital BDC has a 52 week low of $10.10 and a 52 week high of $15.64. The stock has a market capitalization of $328.64 million, a price-to-earnings ratio of 24.28 and a beta of 0.68. The firm has a 50 day moving average of $11.73 and a two-hundred day moving average of $12.43.

Palmer Square Capital BDC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Friday, March 27th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 13.8%. The ex-dividend date is Friday, March 27th. Palmer Square Capital BDC’s dividend payout ratio is currently 334.88%.

Institutional Investors Weigh In On Palmer Square Capital BDC

Several hedge funds have recently modified their holdings of the company. XTX Topco Ltd acquired a new position in Palmer Square Capital BDC in the 4th quarter worth about $351,000. Rivernorth Capital Management LLC bought a new stake in shares of Palmer Square Capital BDC during the fourth quarter worth about $7,077,000. Trexquant Investment LP increased its stake in shares of Palmer Square Capital BDC by 17.6% in the fourth quarter. Trexquant Investment LP now owns 50,118 shares of the company’s stock valued at $611,000 after buying an additional 7,496 shares during the period. Jane Street Group LLC raised its holdings in Palmer Square Capital BDC by 187.3% in the 4th quarter. Jane Street Group LLC now owns 39,531 shares of the company’s stock valued at $482,000 after buying an additional 25,771 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in Palmer Square Capital BDC by 18.8% during the 4th quarter. Renaissance Technologies LLC now owns 183,000 shares of the company’s stock worth $2,231,000 after buying an additional 28,900 shares during the period. Institutional investors and hedge funds own 6.52% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PSBD shares. UBS Group cut their price objective on shares of Palmer Square Capital BDC from $13.50 to $13.00 and set a “neutral” rating for the company in a research report on Wednesday, November 19th. Royal Bank Of Canada downgraded shares of Palmer Square Capital BDC from a “moderate buy” rating to a “hold” rating in a report on Wednesday, November 26th. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $13.00.

Palmer Square Capital BDC Company 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.