Confluence Investment Management LLC Has $1.70 Million Holdings in Palmer Square Capital BDC Inc. (NYSE:PSBD)

Confluence Investment Management LLC grew its position in Palmer Square Capital BDC Inc. (NYSE:PSBD) by 22.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 104,082 shares of the company’s stock after buying an additional 18,842 shares during the quarter. Confluence Investment Management LLC owned approximately 0.32% of Palmer Square Capital BDC worth $1,697,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in PSBD. Hennion & Walsh Asset Management Inc. acquired a new position in Palmer Square Capital BDC in the 3rd quarter worth approximately $792,000. Renaissance Technologies LLC acquired a new stake in shares of Palmer Square Capital BDC in the second quarter worth $173,000. Marble Harbor Investment Counsel LLC purchased a new position in shares of Palmer Square Capital BDC during the second quarter valued at $315,000. Apollo Management Holdings L.P. acquired a new position in Palmer Square Capital BDC during the first quarter valued at $9,713,000. Finally, Dorsey & Whitney Trust CO LLC purchased a new stake in Palmer Square Capital BDC in the 1st quarter worth about $170,000. 6.52% of the stock is owned by hedge funds and other institutional investors.

Palmer Square Capital BDC Price Performance

PSBD opened at $15.78 on Friday. The company has a market capitalization of $515.22 million and a PE ratio of 8.22. The business has a 50-day moving average of $16.15 and a 200-day moving average of $16.34. Palmer Square Capital BDC Inc. has a fifty-two week low of $15.27 and a fifty-two week high of $17.12.

Palmer Square Capital BDC (NYSE:PSBD) last posted its earnings results on Thursday, August 8th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.03). Palmer Square Capital BDC had a return on equity of 11.97% and a net margin of 41.67%. The business had revenue of $36.55 million during the quarter, compared to the consensus estimate of $36.27 million. On average, equities research analysts expect that Palmer Square Capital BDC Inc. will post 1.96 earnings per share for the current fiscal year.

Palmer Square Capital BDC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Friday, December 27th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.68 annualized dividend and a yield of 10.65%. Palmer Square Capital BDC’s dividend payout ratio (DPR) is currently 87.50%.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada reiterated an “outperform” rating and issued a $17.00 target price on shares of Palmer Square Capital BDC in a report on Tuesday, August 13th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $16.93.

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.