Palmer Square Capital BDC Inc. (PSBD) to Issue Quarterly Dividend of $0.36 on October 13th

Palmer Square Capital BDC Inc. (NYSE:PSBD) announced a quarterly dividend on Monday, August 3rd. Shareholders of record on Friday, September 25th will be paid a dividend of 0.36 per share on Tuesday, October 13th. This represents a c) annualized dividend and a yield of 13.8%. The ex-dividend date is Friday, September 25th.

Palmer Square Capital BDC Stock Up 0.6%

Shares of NYSE PSBD opened at $10.45 on Wednesday. The firm has a market cap of $320.14 million, a price-to-earnings ratio of -10.55 and a beta of 0.87. Palmer Square Capital BDC has a 52-week low of $9.34 and a 52-week high of $13.93. The company’s 50-day simple moving average is $10.15 and its 200-day simple moving average is $10.44.

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

Wall Street Analysts Forecast Growth

PSBD has been the topic of several analyst reports. Wall Street Zen raised shares of Palmer Square Capital BDC from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Wells Fargo & Company set a $11.50 price objective on Palmer Square Capital BDC in a report on Wednesday, June 24th. Noble Financial assumed coverage on Palmer Square Capital BDC in a report on Wednesday, June 24th. They issued a “neutral” rating for the company. Zacks Research upgraded shares of Palmer Square Capital BDC from a “strong sell” rating to a “hold” rating in a research report on Monday, August 10th. Finally, JPMorgan Chase & Co. dropped their price objective on Palmer Square Capital BDC from $10.00 to $9.50 and set a “neutral” rating for the company in a research report on Thursday, July 2nd. Five investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $10.50.

About Palmer Square Capital BDC

Palmer Square Capital BDC, Inc is a business development company that invests in privately held middle-market companies. The company seeks to generate current income and, to a lesser extent, capital appreciation through investments in corporate debt and related securities.

Its portfolio is primarily focused on senior secured loans, including first-lien and unitranche loans, issued by companies operating across a range of industries. Palmer Square Capital BDC may also invest in subordinated debt, unsecured debt, warrants and equity securities when appropriate.