Palmer Square Capital BDC Inc. (NYSE:PSBD) Stock Has Average Target Price of $10.50 According to Analysts

Shares of Palmer Square Capital BDC Inc. (NYSE:PSBD) have earned a consensus rating of “Hold” from the five ratings firms that are presently covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold rating. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $10.50.

Several research firms recently weighed in on PSBD. UBS Group reduced their target price on shares of Palmer Square Capital BDC from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, September 1st. Wall Street Zen upgraded Palmer Square Capital BDC from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. JPMorgan Chase & Co. cut their price target on Palmer Square Capital BDC from $10.00 to $9.50 and set a “neutral” rating for the company in a report on Thursday, July 2nd. Noble Financial began coverage on Palmer Square Capital BDC in a research report on Wednesday, June 24th. They issued a “neutral” rating for the company. Finally, Zacks Research raised Palmer Square Capital BDC from a “strong sell” rating to a “hold” rating in a report on Monday, August 10th.

Palmer Square Capital BDC Trading Down 0.1%

Shares of PSBD stock opened at $9.76 on Friday. Palmer Square Capital BDC has a 1 year low of $9.34 and a 1 year high of $13.11. The firm’s fifty day simple moving average is $10.19 and its 200 day simple moving average is $10.40. The firm has a market capitalization of $299.14 million, a P/E ratio of -9.86 and a beta of 0.87.

Palmer Square Capital BDC (NYSE:PSBD) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.16). The company had revenue of $27.30 million during the quarter, compared to the consensus estimate of $25.97 million. Palmer Square Capital BDC had a negative net margin of 26.73% and a positive return on equity of 11.22%. Equities research analysts anticipate that Palmer Square Capital BDC will post 1.5 EPS for the current fiscal year.

Palmer Square Capital BDC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 13th. Investors of record on Friday, September 25th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 14.8%. The ex-dividend date is Friday, September 25th. Palmer Square Capital BDC’s dividend payout ratio is presently -145.45%.

Insider Buying and Selling

In other Palmer Square Capital BDC news, major shareholder Martin C. Bicknell purchased 21,484 shares of the firm’s stock in a transaction on Tuesday, July 7th. The shares were purchased at an average price of $10.47 per share, for a total transaction of $224,937.48. Following the completion of the purchase, the insider directly owned 373,472 shares of the company’s stock, valued at approximately $3,910,251.84. This represents a 6.10% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Palmer Square Capital BDC

Institutional investors and hedge funds have recently bought and sold shares of the business. Catalyst Capital Advisors LLC bought a new position in shares of Palmer Square Capital BDC during the 1st quarter worth about $33,000. Harbour Investments Inc. bought a new stake in Palmer Square Capital BDC in the fourth quarter valued at about $85,000. TrueMark Investments LLC bought a new stake in Palmer Square Capital BDC in the first quarter valued at about $188,000. Nottingham Advisors Inc. acquired a new position in Palmer Square Capital BDC in the first quarter worth about $305,000. Finally, Waterfront Wealth Inc. acquired a new position in Palmer Square Capital BDC in the first quarter worth about $413,000. Institutional investors own 6.52% of the company’s stock.

Palmer Square Capital BDC Company Profile

Palmer Square Capital BDC, Inc (NYSE: PSBD) is a business development company focused on providing financing to middle-market companies. The company seeks to generate current income and, to a lesser extent, capital appreciation by investing in privately negotiated debt and other securities.

Its portfolio primarily consists of senior secured loans and other debt investments, with the potential to invest in subordinated debt, equity securities and related instruments. Through these investments, Palmer Square Capital BDC provides capital to companies that may not have access to traditional bank financing or public debt markets.

Palmer Square Capital BDC is externally managed by an affiliate of Palmer Square Capital Management, an investment management firm specializing in credit and structured finance.