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

Shares of Palmer Square Capital BDC Inc. (NYSE:PSBDGet Free Report) traded down 0.8% during mid-day trading on Thursday . The company 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.

Wall Street Analysts Forecast Growth

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

Check Out Our Latest Stock Analysis on PSBD

Palmer Square Capital BDC Price Performance

The company’s fifty day moving average is $16.50.

Palmer Square Capital BDC (NYSE:PSBDGet Free Report) last announced its earnings results on Tuesday, May 7th. The company reported $0.52 EPS for the quarter, beating 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%. Research analysts anticipate that Palmer Square Capital BDC Inc. will post 2.01 earnings per share for the current fiscal year.

Palmer Square Capital BDC Announces Dividend

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

Institutional Investors Weigh In On Palmer Square Capital BDC

Several hedge funds and other institutional investors have recently made changes to their positions in PSBD. Capstone Investment Advisors LLC acquired a new stake in shares of Palmer Square Capital BDC in the first quarter valued at approximately $1,032,000. Dorsey & Whitney Trust CO LLC acquired a new stake in Palmer Square Capital BDC during the first quarter worth $170,000. Finally, Apollo Management Holdings L.P. acquired a new stake in Palmer Square Capital BDC during the first quarter worth $9,713,000. Institutional investors and hedge funds own 6.52% of the company’s stock.

About Palmer Square Capital BDC

(Get Free Report)

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.

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