Crescent Capital BDC (NASDAQ:CCAP) Sees Large Volume Increase After Dividend Announcement

Crescent Capital BDC, Inc. (NASDAQ:CCAP - Get Free Report) saw strong trading volume on Wednesday after the company announced a dividend. 375,016 shares changed hands during mid-day trading, an increase of 172% from the previous session's volume of 137,802 shares.The stock last traded at $14.55 and had previously closed at $14.92.

The newly announced dividend which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 11.53%. The ex-dividend date of this dividend is Monday, June 30th. Crescent Capital BDC's dividend payout ratio (DPR) is presently 125.37%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Wells Fargo & Company lowered their price target on shares of Crescent Capital BDC from $16.00 to $15.00 and set an "equal weight" rating for the company in a report on Friday, May 16th. Raymond James lowered their price target on shares of Crescent Capital BDC from $20.00 to $17.00 and set an "outperform" rating for the company in a report on Friday, May 16th. Keefe, Bruyette & Woods cut shares of Crescent Capital BDC from an "outperform" rating to a "market perform" rating and lowered their price target for the stock from $18.50 to $17.00 in a report on Friday, May 16th. Finally, Wall Street Zen cut shares of Crescent Capital BDC from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Crescent Capital BDC currently has a consensus rating of "Hold" and an average price target of $17.60.

Crescent Capital BDC Stock Performance

The firm's fifty day moving average price is $15.44 and its 200-day moving average price is $17.66. The company has a current ratio of 1.32, a quick ratio of 1.26 and a debt-to-equity ratio of 1.18. The firm has a market cap of $539.96 million, a price-to-earnings ratio of 7.32 and a beta of 0.55.

Crescent Capital BDC (NASDAQ:CCAP - Get Free Report) last issued its earnings results on Wednesday, May 14th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.07). Crescent Capital BDC had a net margin of 37.32% and a return on equity of 11.90%. The company had revenue of $42.13 million during the quarter, compared to analyst estimates of $45.08 million. Analysts expect that Crescent Capital BDC, Inc. will post 2.09 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Ieq Capital LLC boosted its stake in Crescent Capital BDC by 2.6% during the 4th quarter. Ieq Capital LLC now owns 22,725 shares of the company's stock worth $437,000 after purchasing an additional 584 shares during the period. HighTower Advisors LLC boosted its stake in Crescent Capital BDC by 0.5% during the 1st quarter. HighTower Advisors LLC now owns 137,366 shares of the company's stock worth $2,352,000 after purchasing an additional 702 shares during the period. Denali Advisors LLC boosted its stake in Crescent Capital BDC by 0.5% during the 4th quarter. Denali Advisors LLC now owns 183,783 shares of the company's stock worth $3,532,000 after purchasing an additional 855 shares during the period. Van ECK Associates Corp boosted its stake in Crescent Capital BDC by 2.3% during the 4th quarter. Van ECK Associates Corp now owns 45,562 shares of the company's stock worth $876,000 after purchasing an additional 1,006 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in Crescent Capital BDC by 0.5% during the 4th quarter. Wells Fargo & Company MN now owns 253,182 shares of the company's stock worth $4,866,000 after purchasing an additional 1,210 shares during the period. Institutional investors and hedge funds own 49.46% of the company's stock.

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.