Palmer Square Capital BDC Inc. (NYSE:PSBD) Given Average Recommendation of “Moderate Buy” by Brokerages

Palmer Square Capital BDC Inc. (NYSE:PSBD) has received a consensus rating of “Moderate Buy” from the seven ratings firms that are presently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $16.93.

Several research firms recently weighed in on PSBD. Bank of America began coverage on Palmer Square Capital BDC in a report on Monday, February 12th. They set a “neutral” rating and a $16.50 price target for the company. Citigroup began coverage on Palmer Square Capital BDC in a report on Monday, February 12th. They set a “buy” rating and a $17.00 price target for the company. Royal Bank of Canada began coverage on Palmer Square Capital BDC in a report on Monday, February 12th. They set an “outperform” rating and a $17.00 price target for the company. Janney Montgomery Scott began coverage on Palmer Square Capital BDC in a report on Monday, April 22nd. They set a “neutral” rating and a $17.50 price target for the company. Finally, Oppenheimer began coverage on Palmer Square Capital BDC in a report on Monday, February 12th. They set an “outperform” rating and a $17.00 price target for the company.

Hedge Funds Weigh In On Palmer Square Capital BDC

A number of hedge funds have recently added to or reduced their stakes in the stock. Dorsey & Whitney Trust CO LLC bought a new position in shares of Palmer Square Capital BDC in the 1st quarter valued at $170,000. Capstone Investment Advisors LLC bought a new position in shares of Palmer Square Capital BDC in the 1st quarter valued at $1,032,000. Finally, Apollo Management Holdings L.P. bought a new position in shares of Palmer Square Capital BDC in the 1st quarter valued at $9,713,000. Institutional investors own 6.52% of the company’s stock.

Palmer Square Capital BDC Stock Up 1.1 %

PSBD opened at $16.79 on Wednesday. Palmer Square Capital BDC has a 12-month low of $15.27 and a 12-month high of $17.12. The company has a 50 day simple moving average of $16.46.

Palmer Square Capital BDC (NYSE:PSBD) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. 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 anticipate that Palmer Square Capital BDC will post 2.01 earnings per share for the current fiscal year.

Palmer Square Capital BDC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 16th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.42 per share. The ex-dividend date is Friday, June 28th. This represents a $1.68 dividend on an annualized basis and a yield of 10.01%.

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.