Gibson Capital LLC Buys New Shares in Palmer Square Capital BDC Inc. $PSBD

Gibson Capital LLC bought a new stake in shares of Palmer Square Capital BDC Inc. (NYSE:PSBD) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 12,490 shares of the company’s stock, valued at approximately $174,000.

A number of other large investors also recently modified their holdings of the company. 1248 Management LLC lifted its stake in shares of Palmer Square Capital BDC by 36.0% during the 1st quarter. 1248 Management LLC now owns 2,954,713 shares of the company’s stock valued at $40,509,000 after buying an additional 782,271 shares in the last quarter. Sunesis Advisors LLC purchased a new position in shares of Palmer Square Capital BDC during the 1st quarter valued at $6,287,000. Arlington Partners LLC lifted its stake in shares of Palmer Square Capital BDC by 38.3% during the 2nd quarter. Arlington Partners LLC now owns 461,609 shares of the company’s stock valued at $6,444,000 after buying an additional 127,844 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in Palmer Square Capital BDC in the 1st quarter worth $360,000. Hedge funds and other institutional investors own 6.52% of the company’s stock.

Palmer Square Capital BDC Stock Down 1.7%

Palmer Square Capital BDC stock opened at $12.13 on Friday. The company’s 50-day moving average price is $13.47 and its 200-day moving average price is $13.57. Palmer Square Capital BDC Inc. has a twelve month low of $11.51 and a twelve month high of $16.32. The company has a market cap of $389.74 million, a PE ratio of 21.66 and a beta of 0.71.

Palmer Square Capital BDC (NYSE:PSBD) last posted its earnings results on Wednesday, August 6th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. Palmer Square Capital BDC had a net margin of 13.51% and a return on equity of 10.91%. The firm had revenue of $31.68 million for the quarter, compared to the consensus estimate of $30.29 million. As a group, sell-side 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 firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 14th. Stockholders of record on Friday, September 26th will be issued a $0.36 dividend. The ex-dividend date is Friday, September 26th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 11.9%. Palmer Square Capital BDC’s payout ratio is 257.14%.

Analyst Upgrades and Downgrades

Several analysts have commented on PSBD shares. UBS Group reiterated a “neutral” rating and issued a $14.50 price target on shares of Palmer Square Capital BDC in a research note on Wednesday, July 16th. Wall Street Zen upgraded shares of Palmer Square Capital BDC from a “sell” rating to a “hold” rating in a research note on Friday, June 27th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $12.00 price target (down previously from $14.00) on shares of Palmer Square Capital BDC in a research note on Wednesday, October 1st. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Palmer Square Capital BDC currently has a consensus rating of “Hold” and a consensus target price of $13.88.

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.