Palmer Square Capital BDC (NYSE:PSBD) Trading Down 2.2%

Shares of Palmer Square Capital BDC Inc. (NYSE:PSBD) dropped 2.2% on Friday . The company traded as low as $16.08 and last traded at $16.08. Approximately 829 shares traded hands during trading, a decline of 99% from the average daily volume of 58,616 shares. The stock had previously closed at $16.45.

Analyst Upgrades and Downgrades

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

Palmer Square Capital BDC Stock Up 1.1 %

The stock has a fifty day simple moving average of $16.56.

Palmer Square Capital BDC (NYSE:PSBD) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.03. The business had revenue of $34.79 million for the quarter, compared to analyst estimates of $30.34 million. Palmer Square Capital BDC had a return on equity of 18.90% and a net margin of 84.94%. As a group, equities research analysts predict that Palmer Square Capital BDC Inc. will post 2.01 earnings per share for the current year.

Palmer Square Capital BDC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 16th. Stockholders of record on Friday, June 28th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 10.40%. The ex-dividend date of this dividend is Friday, June 28th.

Institutional Investors Weigh In On Palmer Square Capital BDC

A number of institutional investors and hedge funds have recently modified their holdings of the business. Dorsey & Whitney Trust CO LLC acquired a new stake in Palmer Square Capital BDC during the 1st quarter worth $170,000. Capstone Investment Advisors LLC bought a new position in shares of Palmer Square Capital BDC in the 1st quarter worth $1,032,000. Finally, Apollo Management Holdings L.P. acquired a new stake in shares of Palmer Square Capital BDC during the first quarter worth $9,713,000. 6.52% of the stock is owned by institutional investors.

Palmer Square Capital BDC Company Profile

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.