Palmer Square Capital BDC Inc. (NYSE:PSBD) Receives $16.93 Average Target Price from Analysts

Palmer Square Capital BDC Inc. (NYSE:PSBD - Get Free Report) has earned an average recommendation of "Moderate Buy" from the seven ratings firms that are covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $16.93.

Separately, Royal Bank of Canada restated an "outperform" rating and set a $17.00 price target on shares of Palmer Square Capital BDC in a research note on Tuesday, August 13th.

Palmer Square Capital BDC Stock Performance

NYSE PSBD remained flat at $16.25 on Friday. The company's stock had a trading volume of 27,965 shares, compared to its average volume of 47,453. Palmer Square Capital BDC has a one year low of $15.27 and a one year high of $17.12. The company's 50-day moving average is $16.21 and its 200-day moving average is $16.37.

Palmer Square Capital BDC (NYSE:PSBD - Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.48 earnings per share for the quarter, missing analysts' consensus estimates of $0.51 by ($0.03). Palmer Square Capital BDC had a net margin of 64.65% and a return on equity of 16.13%. The firm had revenue of $36.55 million during the quarter, compared to analysts' expectations of $36.27 million. As a group, research analysts predict that Palmer Square Capital BDC will post 1.97 earnings per share for the current year.

Palmer Square Capital BDC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 14th. Investors of record on Friday, September 27th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 10.34%. The ex-dividend date was Friday, September 27th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Dorsey & Whitney Trust CO LLC acquired a new position in Palmer Square Capital BDC during the first quarter worth $170,000. Renaissance Technologies LLC acquired a new position in Palmer Square Capital BDC during the second quarter worth $173,000. Marble Harbor Investment Counsel LLC acquired a new stake in Palmer Square Capital BDC in the second quarter valued at $315,000. Hennion & Walsh Asset Management Inc. acquired a new stake in Palmer Square Capital BDC in the third quarter valued at $792,000. Finally, Capstone Investment Advisors LLC acquired a new stake in Palmer Square Capital BDC in the first quarter valued at $1,032,000. Institutional investors and hedge funds own 6.52% of the company's stock.

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.