Crescent Capital BDC (NASDAQ:CCAP) Price Target Cut to $18.00 by Analysts at Wells Fargo & Company

Crescent Capital BDC (NASDAQ:CCAP) had its price target trimmed by Wells Fargo & Company from $19.00 to $18.00 in a research note released on Wednesday, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other brokerages have also issued reports on CCAP. Keefe, Bruyette & Woods boosted their price objective on Crescent Capital BDC from $18.50 to $19.00 and gave the company an outperform rating in a research report on Thursday, May 23rd. Raymond James upped their price target on Crescent Capital BDC from $18.00 to $19.00 and gave the stock an outperform rating in a research report on Friday, May 10th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Crescent Capital BDC has a consensus rating of Moderate Buy and an average price target of $18.80.

Crescent Capital BDC Price Performance

Shares of CCAP opened at $18.16 on Wednesday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.36 and a current ratio of 1.36. The stock has a 50 day simple moving average of $18.71 and a 200 day simple moving average of $17.75. Crescent Capital BDC has a 52-week low of $15.03 and a 52-week high of $19.63. The firm has a market capitalization of $673.05 million, a PE ratio of 6.46 and a beta of 0.81.

Crescent Capital BDC (NASDAQ:CCAP) last issued its quarterly earnings data on Monday, August 12th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.01. Crescent Capital BDC had a return on equity of 11.99% and a net margin of 53.32%. The business had revenue of $48.95 million during the quarter, compared to analyst estimates of $48.05 million. During the same period in the previous year, the firm earned $0.56 EPS. Sell-side analysts predict that Crescent Capital BDC will post 2.34 EPS for the current fiscal year.

Crescent Capital BDC Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.68 dividend on an annualized basis and a yield of 9.25%. This is an increase from Crescent Capital BDC’s previous quarterly dividend of $0.09. Crescent Capital BDC’s dividend payout ratio is 59.79%.

Institutional Investors Weigh In On Crescent Capital BDC

Institutional investors and hedge funds have recently made changes to their positions in the stock. Confluence Investment Management LLC bought a new stake in shares of Crescent Capital BDC during the 1st quarter worth approximately $1,200,000. Muzinich & Co. Inc. bought a new position in Crescent Capital BDC during the 4th quarter worth $843,000. International Assets Investment Management LLC bought a new position in Crescent Capital BDC during the 4th quarter worth $1,254,000. Mmbg Investment Advisors CO. bought a new position in Crescent Capital BDC during the 4th quarter worth $612,000. Finally, Sumitomo Mitsui Trust Holdings Inc. bought a new position in Crescent Capital BDC during the 4th quarter worth $843,000. Institutional investors own 49.46% of the company’s stock.

About Crescent Capital BDC

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.