Caprock Group LLC Takes $918,000 Position in Palmer Square Capital BDC Inc. $PSBD

Caprock Group LLC acquired a new position in Palmer Square Capital BDC Inc. (NYSE:PSBD) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 74,822 shares of the company’s stock, valued at approximately $918,000. Caprock Group LLC owned about 0.23% of Palmer Square Capital BDC at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Bank of America Corp DE raised its position in Palmer Square Capital BDC by 5.0% in the second quarter. Bank of America Corp DE now owns 300,575 shares of the company’s stock worth $4,196,000 after acquiring an additional 14,220 shares during the period. Sunesis Advisors LLC purchased a new stake in shares of Palmer Square Capital BDC in the 3rd quarter worth $3,668,000. UMB Bank n.a. bought a new position in Palmer Square Capital BDC in the 3rd quarter worth $1,000,000. Mid American Wealth Advisory Group Inc. bought a new position in Palmer Square Capital BDC in the 3rd quarter worth $367,000. Finally, Jane Street Group LLC purchased a new position in Palmer Square Capital BDC during the first quarter valued at $360,000. 6.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on PSBD. Royal Bank Of Canada cut Palmer Square Capital BDC from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, November 26th. UBS Group cut their price objective on Palmer Square Capital BDC from $13.50 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, November 19th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $13.00.

Palmer Square Capital BDC Trading Down 0.9%

Shares of PSBD opened at $11.33 on Monday. The business’s 50 day moving average is $11.92 and its 200 day moving average is $12.59. Palmer Square Capital BDC Inc. has a 12-month low of $11.30 and a 12-month high of $15.90. The company has a market capitalization of $356.54 million, a PE ratio of 26.34 and a beta of 0.68.

Palmer Square Capital BDC Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 14th. Investors of record on Monday, December 29th were given a dividend of $0.36 per share. The ex-dividend date was Monday, December 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 12.7%. Palmer Square Capital BDC’s dividend payout ratio is currently 334.88%.

Palmer Square Capital BDC Profile

Palmer Square Capital BDC Inc (NYSE: PSBD) is a closed-end, externally managed business development company that provides customized financing solutions to middle-market companies in the United States. The firm offers a broad range of debt and equity products—including first-lien and second-lien senior secured loans, unitranche financings, mezzanine debt and equity co-investments—to support corporate acquisitions, refinancings, growth initiatives and balance sheet restructurings.

PSBD primarily targets established privately owned and sponsored businesses across diverse industries such as healthcare, business services, industrials and consumer products.