Confluence Investment Management LLC Has $1.38 Million Stock Holdings in Palmer Square Capital BDC Inc. (NYSE:PSBD)

Confluence Investment Management LLC increased its stake in shares of Palmer Square Capital BDC Inc. (NYSE:PSBD) by 70.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,240 shares of the company’s stock after purchasing an additional 35,240 shares during the quarter. Confluence Investment Management LLC’s holdings in Palmer Square Capital BDC were worth $1,377,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Dorsey & Whitney Trust CO LLC acquired a new position in Palmer Square Capital BDC in the 1st quarter valued at approximately $170,000. Capstone Investment Advisors LLC acquired a new position in Palmer Square Capital BDC in the 1st quarter valued at approximately $1,032,000. Finally, Apollo Management Holdings L.P. acquired a new position in Palmer Square Capital BDC in the 1st quarter valued at approximately $9,713,000. 6.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Palmer Square Capital BDC Trading Down 0.1 %

Shares of PSBD traded down $0.01 during trading hours on Friday, hitting $16.49. 17,804 shares of the stock were exchanged, compared to its average volume of 47,745. Palmer Square Capital BDC Inc. has a fifty-two week low of $15.27 and a fifty-two week high of $17.12. The business has a 50-day moving average of $16.43 and a 200-day moving average of $16.39.

Palmer Square Capital BDC (NYSE:PSBD) last issued its earnings results on Tuesday, May 7th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.03. The business had revenue of $34.79 million for the quarter, compared to analyst estimates of $30.34 million. Palmer Square Capital BDC had a net margin of 84.94% and a return on equity of 18.90%. On average, sell-side analysts predict that Palmer Square Capital BDC Inc. will post 2.01 EPS for the current year.

Palmer Square Capital BDC Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 16th. Shareholders of record on Friday, June 28th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 10.19%. The ex-dividend date of this dividend was Friday, June 28th.

About Palmer Square Capital BDC

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.