Palmer Square Capital BDC (PSBD) to Release Quarterly Earnings on Wednesday

Palmer Square Capital BDC (NYSE:PSBD) will likely be posting its results before the market opens on Wednesday, November 5th. Analysts expect Palmer Square Capital BDC to post earnings of $0.41 per share and revenue of $30.6110 million for the quarter.

Palmer Square Capital BDC (NYSE:PSBD) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.02. Palmer Square Capital BDC had a return on equity of 10.91% and a net margin of 13.51%.The company had revenue of $31.68 million during the quarter, compared to analysts’ expectations of $30.29 million. On average, analysts expect Palmer Square Capital BDC to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Palmer Square Capital BDC Price Performance

Shares of PSBD opened at $12.59 on Wednesday. The business has a 50-day moving average of $13.12 and a 200-day moving average of $13.51. The company has a market capitalization of $404.52 million, a price-to-earnings ratio of 22.48 and a beta of 0.71. Palmer Square Capital BDC has a 1 year low of $11.51 and a 1 year high of $16.25.

Palmer Square Capital BDC Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 14th. Shareholders of record on Friday, September 26th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 11.4%. The ex-dividend date was Friday, September 26th. Palmer Square Capital BDC’s dividend payout ratio (DPR) is presently 257.14%.

Institutional Investors Weigh In On Palmer Square Capital BDC

A hedge fund recently raised its stake in Palmer Square Capital BDC stock. Bank of America Corp DE raised its stake in Palmer Square Capital BDC Inc. (NYSE:PSBD) by 5.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 300,575 shares of the company’s stock after purchasing an additional 14,220 shares during the period. Bank of America Corp DE owned 0.94% of Palmer Square Capital BDC worth $4,196,000 as of its most recent SEC filing. 6.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PSBD shares. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $12.00 price objective (down from $14.00) on shares of Palmer Square Capital BDC in a research note on Wednesday, October 1st. UBS Group decreased their target price on Palmer Square Capital BDC from $14.50 to $13.50 and set a “neutral” rating for the company in a research note on Tuesday, October 14th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $13.63.

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.