Palmer Square Capital BDC Inc. (NYSE:PSBD) Receives $16.93 Consensus PT from Analysts

Palmer Square Capital BDC Inc. (NYSE:PSBD) has been given an average recommendation of “Moderate Buy” by the seven brokerages that are covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $16.93.

A number of equities analysts have commented on PSBD shares. Royal Bank of Canada reissued an “outperform” rating and issued a $17.00 price objective on shares of Palmer Square Capital BDC in a research note on Tuesday, August 13th. Janney Montgomery Scott started coverage on Palmer Square Capital BDC in a research report on Monday, April 22nd. They issued a “neutral” rating and a $17.50 price target for the company.

Palmer Square Capital BDC Trading Down 0.4 %

NYSE PSBD opened at $16.29 on Tuesday. The stock has a 50 day moving average price of $16.39 and a 200-day moving average price of $16.39. Palmer Square Capital BDC has a one year low of $15.27 and a one year high of $17.12.

Palmer Square Capital BDC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 14th. Investors of record on Friday, September 27th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $1.68 annualized dividend and a yield of 10.31%.

Institutional Trading of Palmer Square Capital BDC

Institutional investors have recently added to or reduced their stakes in the company. Dorsey & Whitney Trust CO LLC bought a new position in shares of Palmer Square Capital BDC during the first quarter valued at approximately $170,000. Renaissance Technologies LLC purchased a new stake in Palmer Square Capital BDC in the second quarter worth $173,000. Marble Harbor Investment Counsel LLC bought a new stake in shares of Palmer Square Capital BDC during the second quarter worth $315,000. Capstone Investment Advisors LLC purchased a new stake in shares of Palmer Square Capital BDC during the first quarter valued at $1,032,000. Finally, Confluence Investment Management LLC grew its holdings in shares of Palmer Square Capital BDC by 70.5% in the second quarter. Confluence Investment Management LLC now owns 85,240 shares of the company’s stock worth $1,377,000 after purchasing an additional 35,240 shares during the last quarter. Institutional investors 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.