Crescent Capital BDC (NASDAQ:CCAP) Hits New 12-Month High – Here’s Why

Crescent Capital BDC, Inc. (NASDAQ:CCAP) shares reached a new 52-week high on Monday . The company traded as high as $19.66 and last traded at $19.65, with a volume of 70531 shares trading hands. The stock had previously closed at $19.47.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Wells Fargo & Company dropped their target price on shares of Crescent Capital BDC from $19.00 to $18.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 14th. Keefe, Bruyette & Woods upped their price target on shares of Crescent Capital BDC from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Monday, November 25th. Bank of America reduced their target price on shares of Crescent Capital BDC from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Finally, LADENBURG THALM/SH SH assumed coverage on Crescent Capital BDC in a research report on Monday, September 30th. They issued a “buy” rating and a $20.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.17.

Crescent Capital BDC Trading Up 0.9 %

The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.26 and a current ratio of 1.26. The company has a 50-day simple moving average of $18.64 and a 200-day simple moving average of $18.59. The stock has a market cap of $728.23 million, a P/E ratio of 7.64 and a beta of 0.82.

Crescent Capital BDC Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 8.55%. This is a boost from Crescent Capital BDC’s previous quarterly dividend of $0.07. The ex-dividend date is Tuesday, December 31st. Crescent Capital BDC’s payout ratio is presently 65.88%.

Institutional Trading of Crescent Capital BDC

Hedge funds have recently bought and sold shares of the stock. Franklin Resources Inc. grew its stake in Crescent Capital BDC by 35.2% in the third quarter. Franklin Resources Inc. now owns 256,279 shares of the company’s stock valued at $4,726,000 after purchasing an additional 66,713 shares in the last quarter. Kovitz Investment Group Partners LLC bought a new stake in shares of Crescent Capital BDC in the 3rd quarter valued at about $4,878,000. Stifel Financial Corp grew its holdings in Crescent Capital BDC by 53.1% during the third quarter. Stifel Financial Corp now owns 66,470 shares of the company’s stock worth $1,230,000 after purchasing an additional 23,055 shares during the period. HighTower Advisors LLC lifted its position in shares of Crescent Capital BDC by 0.5% in the third quarter. HighTower Advisors LLC now owns 141,838 shares of the company’s stock valued at $2,624,000 after buying an additional 768 shares during the last quarter. Finally, Confluence Investment Management LLC raised its stake in Crescent Capital BDC by 2.2% in the 3rd quarter. Confluence Investment Management LLC now owns 73,206 shares of the company’s stock valued at $1,354,000 after acquiring an additional 1,583 shares during the period. 49.46% of the stock is currently owned by institutional investors and hedge funds.

Crescent Capital BDC Company Profile

Crescent Capital BDC, Inc is as a business development company private equity / buyouts and loan fund. It specializes in directly investing. It specializes in middle market. The fund seeks to invest in United States.