US Bancorp DE Sells 4,445 Shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

US Bancorp DE reduced its position in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) by 52.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,000 shares of the asset manager’s stock after selling 4,445 shares during the quarter. US Bancorp DE’s holdings in PennantPark Floating Rate Capital were worth $44,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. NewEdge Wealth LLC boosted its stake in shares of PennantPark Floating Rate Capital by 0.6% in the 4th quarter. NewEdge Wealth LLC now owns 288,372 shares of the asset manager’s stock valued at $3,152,000 after purchasing an additional 1,700 shares during the last quarter. GraniteShares Advisors LLC bought a new stake in shares of PennantPark Floating Rate Capital in the 4th quarter valued at $2,457,000. Sigma Planning Corp bought a new stake in shares of PennantPark Floating Rate Capital in the 4th quarter valued at $119,000. Strategic Financial Concepts LLC boosted its stake in shares of PennantPark Floating Rate Capital by 8.0% in the 4th quarter. Strategic Financial Concepts LLC now owns 66,200 shares of the asset manager’s stock valued at $724,000 after purchasing an additional 4,900 shares during the last quarter. Finally, Blue Trust Inc. bought a new stake in shares of PennantPark Floating Rate Capital in the 4th quarter valued at $136,000. 19.77% of the stock is owned by institutional investors.

PennantPark Floating Rate Capital Stock Up 0.1 %

Shares of NASDAQ PFLT opened at $11.11 on Wednesday. The firm has a market cap of $976.75 million, a PE ratio of 7.93 and a beta of 1.67. PennantPark Floating Rate Capital Ltd. has a 12-month low of $10.28 and a 12-month high of $12.02. The company’s fifty day simple moving average is $11.14 and its 200 day simple moving average is $11.22. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.57.

PennantPark Floating Rate Capital Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.1025 per share. The ex-dividend date is Friday, March 14th. This represents a $1.23 annualized dividend and a yield of 11.08%. PennantPark Floating Rate Capital’s payout ratio is 87.86%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on PFLT shares. Raymond James started coverage on shares of PennantPark Floating Rate Capital in a research note on Friday, December 20th. They set a “market perform” rating on the stock. StockNews.com raised shares of PennantPark Floating Rate Capital from a “sell” rating to a “hold” rating in a research note on Friday, March 7th.

About PennantPark Floating Rate Capital

PennantPark Floating Rate Capital Ltd. is a business development company. It seeks to make secondary direct, debt, equity, and loan investments. The fund seeks to invest through floating rate loans in private or thinly traded or small market-cap, public middle market companies. It primarily invests in the United States and to a limited extent non-U.S.