JPMorgan Chase & Co. Reduces Position in Crescent Capital BDC, Inc. (NASDAQ:CCAP)

JPMorgan Chase & Co. cut its holdings in Crescent Capital BDC, Inc. (NASDAQ:CCAP - Free Report) by 38.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,386 shares of the company's stock after selling 14,311 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.06% of Crescent Capital BDC worth $433,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Point72 Asset Management L.P. purchased a new stake in Crescent Capital BDC in the second quarter worth about $90,000. Cubist Systematic Strategies LLC bought a new stake in shares of Crescent Capital BDC in the 2nd quarter worth approximately $346,000. Pettinga Financial Advisors LLC grew its stake in shares of Crescent Capital BDC by 95.8% in the 3rd quarter. Pettinga Financial Advisors LLC now owns 29,017 shares of the company's stock worth $537,000 after buying an additional 14,200 shares during the last quarter. Marshall Wace LLP bought a new position in Crescent Capital BDC during the 2nd quarter valued at approximately $767,000. Finally, Van ECK Associates Corp raised its stake in Crescent Capital BDC by 68.0% during the third quarter. Van ECK Associates Corp now owns 44,556 shares of the company's stock valued at $819,000 after buying an additional 18,035 shares during the last quarter. 49.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on CCAP shares. Keefe, Bruyette & Woods increased their price objective on shares of Crescent Capital BDC from $19.00 to $20.00 and gave the company an "outperform" rating in a research report on Monday, November 25th. Wells Fargo & Company raised their price target on shares of Crescent Capital BDC from $18.00 to $19.00 and gave the company an "equal weight" rating in a research report on Wednesday. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Crescent Capital BDC currently has a consensus rating of "Moderate Buy" and an average target price of $19.33.

Crescent Capital BDC Stock Performance

Shares of NASDAQ CCAP traded up $0.07 during trading on Friday, reaching $19.60. 50,418 shares of the company traded hands, compared to its average volume of 74,881. The firm has a 50 day simple moving average of $19.40 and a 200-day simple moving average of $18.78. Crescent Capital BDC, Inc. has a 52-week low of $15.91 and a 52-week high of $20.03. The stock has a market capitalization of $726.38 million, a PE ratio of 7.69 and a beta of 0.81. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.14.

Crescent Capital BDC (NASDAQ:CCAP - Get Free Report) last issued its earnings results on Tuesday, November 12th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.07. The company had revenue of $51.63 million for the quarter, compared to analysts' expectations of $48.76 million. Crescent Capital BDC had a net margin of 47.06% and a return on equity of 12.20%. During the same quarter last year, the company posted $0.59 earnings per share. Equities research analysts anticipate that Crescent Capital BDC, Inc. will post 2.43 earnings per share for the current year.

Crescent Capital BDC Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 8.57%. The ex-dividend date was Tuesday, December 31st. This is a boost from Crescent Capital BDC's previous quarterly dividend of $0.07. Crescent Capital BDC's dividend payout ratio is 65.88%.

Crescent Capital BDC Profile

Crescent Capital BDC, Inc is as a business development company private equity / buyouts and loan fund. It specializes in directly investing. It specializes in middle market. The fund seeks to invest in United States.