Wells Fargo & Company Cuts Crescent Capital BDC (NASDAQ:CCAP) Price Target to $14.00

Crescent Capital BDC (NASDAQ:CCAP) had its price target decreased by Wells Fargo & Company from $15.00 to $14.00 in a report published on Friday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

CCAP has been the subject of several other reports. Zacks Research downgraded Crescent Capital BDC from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 15th. Keefe, Bruyette & Woods reduced their price target on shares of Crescent Capital BDC from $17.00 to $15.50 and set an “outperform” rating on the stock in a research note on Friday. Finally, LADENBURG THALM/SH SH raised shares of Crescent Capital BDC to a “strong-buy” rating in a research report on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $16.38.

Crescent Capital BDC Stock Up 0.5%

Shares of NASDAQ:CCAP opened at $13.66 on Friday. The firm has a market capitalization of $505.28 million, a PE ratio of 13.94 and a beta of 0.57. The business has a 50 day simple moving average of $14.51 and a two-hundred day simple moving average of $14.82. Crescent Capital BDC has a 1 year low of $13.30 and a 1 year high of $20.19. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.20 and a quick ratio of 1.20.

Crescent Capital BDC (NASDAQ:CCAP) last issued its quarterly earnings results on Wednesday, November 12th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). Crescent Capital BDC had a return on equity of 9.76% and a net margin of 20.84%.The business had revenue of $41.35 million for the quarter, compared to the consensus estimate of $42.35 million. On average, equities analysts predict that Crescent Capital BDC will post 2.09 EPS for the current year.

Crescent Capital BDC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 12.3%. The ex-dividend date of this dividend is Wednesday, December 31st. Crescent Capital BDC’s dividend payout ratio is currently 171.43%.

Insiders Place Their Bets

In other Crescent Capital BDC news, Director Raymond Barrios bought 3,245 shares of the stock in a transaction on Monday, August 25th. The shares were bought at an average price of $15.63 per share, with a total value of $50,719.35. Following the purchase, the director directly owned 19,177 shares in the company, valued at $299,736.51. This trade represents a 20.37% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.14% of the company’s stock.

Institutional Investors Weigh In On Crescent Capital BDC

A number of hedge funds have recently modified their holdings of CCAP. Raymond James Financial Inc. boosted its position in Crescent Capital BDC by 16.5% during the third quarter. Raymond James Financial Inc. now owns 275,906 shares of the company’s stock worth $3,934,000 after acquiring an additional 39,089 shares during the last quarter. Two Sigma Investments LP lifted its stake in Crescent Capital BDC by 199.6% in the 3rd quarter. Two Sigma Investments LP now owns 269,649 shares of the company’s stock worth $3,845,000 after purchasing an additional 179,660 shares in the last quarter. Seven Mile Advisory purchased a new position in Crescent Capital BDC in the 3rd quarter worth approximately $189,000. Franklin Resources Inc. boosted its holdings in shares of Crescent Capital BDC by 7.0% during the 3rd quarter. Franklin Resources Inc. now owns 540,460 shares of the company’s stock worth $7,707,000 after purchasing an additional 35,534 shares during the last quarter. Finally, Van ECK Associates Corp grew its position in shares of Crescent Capital BDC by 64.4% in the third quarter. Van ECK Associates Corp now owns 153,089 shares of the company’s stock valued at $2,183,000 after purchasing an additional 59,964 shares in the last quarter. 49.46% of the stock is currently owned by institutional investors and hedge funds.

Crescent Capital BDC Company 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.