Palmer Square Capital BDC (PSBD) Projected to Post Quarterly Earnings on Thursday

Palmer Square Capital BDC (NYSE:PSBD) is anticipated to issue its results before the market opens on Thursday, February 26th. Analysts expect the company to announce earnings of $0.42 per share and revenue of $30.1140 million for the quarter.

Palmer Square Capital BDC Price Performance

NYSE:PSBD opened at $11.18 on Thursday. The company has a 50 day moving average price of $11.87 and a 200-day moving average price of $12.54. Palmer Square Capital BDC has a 1-year low of $11.14 and a 1-year high of $15.74. The firm has a market cap of $351.85 million, a price-to-earnings ratio of 25.99 and a beta of 0.68.

Palmer Square Capital BDC Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 14th. Shareholders of record on Monday, December 29th were issued a $0.36 dividend. The ex-dividend date of this dividend was Monday, December 29th. This represents a $1.44 dividend on an annualized basis and a yield of 12.9%. Palmer Square Capital BDC’s payout ratio is presently 334.88%.

Institutional Trading of Palmer Square Capital BDC

Large investors have recently added to or reduced their stakes in the stock. Rivernorth Capital Management LLC acquired a new stake in shares of Palmer Square Capital BDC in the 4th quarter worth $7,077,000. Bank of America Corp DE increased its holdings in shares of Palmer Square Capital BDC by 22.1% during the 3rd quarter. Bank of America Corp DE now owns 367,035 shares of the company’s stock worth $4,504,000 after buying an additional 66,460 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Palmer Square Capital BDC by 18.8% during the 4th quarter. Renaissance Technologies LLC now owns 183,000 shares of the company’s stock valued at $2,231,000 after buying an additional 28,900 shares during the period. Millennium Management LLC raised its position in shares of Palmer Square Capital BDC by 2.0% during the 3rd quarter. Millennium Management LLC now owns 134,249 shares of the company’s stock valued at $1,647,000 after buying an additional 2,638 shares during the period. Finally, Two Sigma Investments LP lifted its holdings in Palmer Square Capital BDC by 142.9% in the third quarter. Two Sigma Investments LP now owns 131,545 shares of the company’s stock valued at $1,614,000 after acquiring an additional 77,393 shares during the last quarter. 6.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. UBS Group lowered their target price on shares of Palmer Square Capital BDC from $13.50 to $13.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 19th. Royal Bank Of Canada downgraded Palmer Square Capital BDC from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, November 26th. Four analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Palmer Square Capital BDC has an average rating of “Hold” and a consensus price target of $13.00.

Palmer Square Capital BDC Company 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.