Palmer Square Capital BDC (NYSE:PSBD) Shares Down 0.8%

Palmer Square Capital BDC Inc. (NYSE:PSBD) shares traded down 0.8% during mid-day trading on Thursday . The stock traded as low as $16.43 and last traded at $16.47. 23,296 shares traded hands during trading, a decline of 63% from the average session volume of 63,354 shares. The stock had previously closed at $16.60.

Analyst Ratings Changes

Separately, Janney Montgomery Scott assumed coverage on Palmer Square Capital BDC in a research note on Monday, April 22nd. They set a “neutral” rating and a $17.50 target price on the stock. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Palmer Square Capital BDC presently has a consensus rating of “Moderate Buy” and an average price target of $16.93.

Palmer Square Capital BDC Price Performance

The business has a 50 day moving average of $16.50.

Palmer Square Capital BDC (NYSE:PSBD) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. Palmer Square Capital BDC had a return on equity of 18.90% and a net margin of 84.94%. Equities analysts predict that Palmer Square Capital BDC Inc. will post 2.01 earnings per share for the current year.

Palmer Square Capital BDC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 16th. Shareholders of record on Friday, June 28th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 10.20%. The ex-dividend date of this dividend is Friday, June 28th.

Hedge Funds Weigh In On Palmer Square Capital BDC

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Apollo Management Holdings L.P. purchased a new position in shares of Palmer Square Capital BDC in the 1st quarter worth approximately $9,713,000. Capstone Investment Advisors LLC purchased a new position in shares of Palmer Square Capital BDC in the 1st quarter worth approximately $1,032,000. Finally, Dorsey & Whitney Trust CO LLC purchased a new position in shares of Palmer Square Capital BDC in the 1st quarter worth approximately $170,000. Hedge funds and other institutional investors own 6.52% of the company’s stock.

Palmer Square Capital BDC Company Profile

Palmer Square Capital BDC Inc is an externally managed, non-diversified closed-end management investment company which primarily lends to and invests in corporate debt securities, including small to large private U.S. companies and has elected to be regulated as a business development company. Palmer Square Capital BDC Inc is based in MISSION WOODS, Kan.