Palmer Square Capital BDC Inc. (NYSE:PSBD) Stock Has Consensus Target Price of $10.50 According to Analysts

Shares of Palmer Square Capital BDC Inc. (NYSE:PSBD) have earned a consensus recommendation of “Hold” from the five research firms that are covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation. The average 1 year price target among analysts that have covered the stock in the last year is $10.50.

A number of brokerages have issued reports on PSBD. JPMorgan Chase & Co. decreased their price target on Palmer Square Capital BDC from $10.00 to $9.50 and set a “neutral” rating for the company in a report on Thursday, July 2nd. Zacks Research upgraded Palmer Square Capital BDC from a “strong sell” rating to a “hold” rating in a research report on Monday, August 10th. Wells Fargo & Company set a $11.50 price objective on Palmer Square Capital BDC in a report on Wednesday, June 24th. Wall Street Zen raised shares of Palmer Square Capital BDC from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Noble Financial assumed coverage on shares of Palmer Square Capital BDC in a research note on Wednesday, June 24th. They issued a “neutral” rating on the stock.

Palmer Square Capital BDC Stock Down 0.7%

Shares of NYSE:PSBD opened at $9.60 on Friday. Palmer Square Capital BDC has a 52-week low of $9.34 and a 52-week high of $13.11. The business has a 50-day moving average price of $10.18 and a 200-day moving average price of $10.39. The stock has a market cap of $294.30 million, a price-to-earnings ratio of -9.70 and a beta of 0.87.

Palmer Square Capital BDC (NYSE:PSBD) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.16). Palmer Square Capital BDC had a negative net margin of 26.73% and a positive return on equity of 11.22%. The business had revenue of $27.30 million during the quarter, compared to analysts’ expectations of $25.97 million. As a group, equities analysts anticipate that Palmer Square Capital BDC will post 1.5 EPS for the current fiscal year.

Palmer Square Capital BDC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 13th. Shareholders of record on Friday, September 25th will be issued a $0.36 dividend. The ex-dividend date is Friday, September 25th. This represents a $1.44 dividend on an annualized basis and a yield of 15.0%. Palmer Square Capital BDC’s dividend payout ratio is presently -145.45%.

Institutional Investors Weigh In On Palmer Square Capital BDC

A number of large investors have recently made changes to their positions in the stock. Catalyst Capital Advisors LLC acquired a new position in Palmer Square Capital BDC in the 1st quarter valued at about $33,000. Harbour Investments Inc. acquired a new stake in shares of Palmer Square Capital BDC during the 4th quarter worth approximately $85,000. TrueMark Investments LLC purchased a new stake in shares of Palmer Square Capital BDC during the 1st quarter valued at approximately $188,000. Nottingham Advisors Inc. purchased a new stake in shares of Palmer Square Capital BDC during the 1st quarter valued at approximately $305,000. Finally, Waterfront Wealth Inc. purchased a new stake in shares of Palmer Square Capital BDC during the 1st quarter valued at approximately $413,000. 6.52% of the stock is currently owned by hedge funds and other institutional investors.

Palmer Square Capital BDC Company Profile

Palmer Square Capital BDC, Inc (NYSE: PSBD) is a business development company focused on providing financing to middle-market companies. The company seeks to generate current income and, to a lesser extent, capital appreciation by investing in privately negotiated debt and other securities.

Its portfolio primarily consists of senior secured loans and other debt investments, with the potential to invest in subordinated debt, equity securities and related instruments. Through these investments, Palmer Square Capital BDC provides capital to companies that may not have access to traditional bank financing or public debt markets.

Palmer Square Capital BDC is externally managed by an affiliate of Palmer Square Capital Management, an investment management firm specializing in credit and structured finance.