Hennion & Walsh Asset Management Inc. Boosts Stake in Palmer Square Capital BDC Inc. (NYSE:PSBD)

Hennion & Walsh Asset Management Inc. raised its holdings in shares of Palmer Square Capital BDC Inc. (NYSE:PSBD) by 91.4% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 160,740 shares of the company’s stock after acquiring an additional 76,743 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Palmer Square Capital BDC were worth $2,141,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PSBD. 1248 Management LLC purchased a new position in Palmer Square Capital BDC during the fourth quarter worth about $34,064,000. Mariner LLC lifted its stake in Palmer Square Capital BDC by 97.7% during the fourth quarter. Mariner LLC now owns 2,275,470 shares of the company’s stock worth $34,587,000 after purchasing an additional 1,124,766 shares during the last quarter. Pandi LLC bought a new stake in Palmer Square Capital BDC during the fourth quarter worth about $13,860,000. Bienville Capital Management LLC lifted its stake in Palmer Square Capital BDC by 61.9% during the fourth quarter. Bienville Capital Management LLC now owns 676,406 shares of the company’s stock worth $10,606,000 after purchasing an additional 258,643 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in Palmer Square Capital BDC by 21.0% during the fourth quarter. Bank of America Corp DE now owns 262,383 shares of the company’s stock worth $3,988,000 after purchasing an additional 45,519 shares during the last quarter. 6.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on PSBD shares. JPMorgan Chase & Co. dropped their price target on Palmer Square Capital BDC from $16.00 to $13.50 and set an “overweight” rating for the company in a research note on Thursday, April 24th. Oppenheimer lowered Palmer Square Capital BDC from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $17.00 to $14.00 in a research note on Friday, May 9th. Royal Bank of Canada dropped their price target on Palmer Square Capital BDC from $17.00 to $15.00 and set an “outperform” rating for the company in a research note on Thursday, May 22nd. Wall Street Zen lowered Palmer Square Capital BDC from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. Finally, UBS Group lowered their target price on Palmer Square Capital BDC from $16.50 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, April 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Palmer Square Capital BDC presently has an average rating of “Hold” and a consensus price target of $14.13.

Palmer Square Capital BDC Trading Up 0.3%

NYSE PSBD opened at $13.90 on Thursday. Palmer Square Capital BDC Inc. has a 1-year low of $11.51 and a 1-year high of $16.85. The stock has a 50-day moving average of $13.22 and a 200-day moving average of $14.71. The firm has a market cap of $449.98 million, a PE ratio of 7.24 and a beta of 0.63.

Palmer Square Capital BDC (NYSE:PSBD) last released its earnings results on Wednesday, May 7th. The company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.04). Palmer Square Capital BDC had a net margin of 41.67% and a return on equity of 11.97%. The company had revenue of $31.21 million during the quarter, compared to the consensus estimate of $32.55 million. As a group, equities research analysts forecast that Palmer Square Capital BDC Inc. will post 1.96 earnings per share for the current fiscal year.

Palmer Square Capital BDC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 14th. Shareholders of record on Friday, June 27th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 10.36%. The ex-dividend date of this dividend is Friday, June 27th. Palmer Square Capital BDC’s payout ratio is 288.00%.

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.