Crescent Capital BDC (NASDAQ:CCAP) Stock Price Up 3.2% Following Dividend Announcement

Key Points

• Crescent Capital BDC shares rose 3.2% following the announcement of a $0.05 dividend, which will be paid on September 15th to shareholders of record on August 29th.
• Analysts have mixed ratings on the stock, with a consensus average rating of "Moderate Buy" and a target price of $17.60, though some firms have recently lowered their price targets.
• The company's recent earnings report showed it met the consensus estimate with $0.46 earnings per share and a net margin of 26.20% on revenues of $42.99 million.

Shares of Crescent Capital BDC, Inc. (NASDAQ:CCAP - Get Free Report) traded up 3.2% during mid-day trading on Thursday after the company announced a dividend. The company traded as high as $15.34 and last traded at $15.22. 74,699 shares traded hands during trading, a decline of 60% from the average session volume of 185,241 shares. The stock had previously closed at $14.75.

The newly announced dividend which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.68 annualized dividend and a dividend yield of 11.1%. Crescent Capital BDC's payout ratio is presently 140.00%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Wells Fargo & Company dropped their price objective on Crescent Capital BDC from $16.00 to $15.00 and set an "equal weight" rating on the stock in a report on Friday, May 16th. Wall Street Zen raised Crescent Capital BDC from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. Keefe, Bruyette & Woods raised Crescent Capital BDC from a "hold" rating to a "moderate buy" rating in a report on Tuesday, July 22nd. Raymond James Financial cut their price objective on Crescent Capital BDC from $20.00 to $17.00 and set an "outperform" rating on the stock in a research note on Friday, May 16th. Finally, LADENBURG THALM/SH SH raised Crescent Capital BDC to a "strong-buy" rating in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $17.25.

Crescent Capital BDC Trading Down 0.1%

The firm's 50-day simple moving average is $14.49 and its 200-day simple moving average is $15.99. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 1.22.

Crescent Capital BDC (NASDAQ:CCAP - Get Free Report) last released its earnings results on Wednesday, August 13th. The company reported $0.46 earnings per share for the quarter, meeting the consensus estimate of $0.46. Crescent Capital BDC had a net margin of 24.12% and a return on equity of 10.55%. The business had revenue of $42.99 million during the quarter, compared to analysts' expectations of $42.52 million. Research analysts forecast that Crescent Capital BDC, Inc. will post 2.09 EPS for the current fiscal year.

Insider Buying and Selling at Crescent Capital BDC

In other news, major shareholder California Emplo Ufcw-Northern sold 82,000 shares of Crescent Capital BDC stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $14.77, for a total transaction of $1,211,140.00. Following the sale, the insider owned 3,656,095 shares of the company's stock, valued at approximately $54,000,523.15. This trade represents a 2.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders sold 572,890 shares of company stock worth $8,676,384. 1.14% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Crescent Capital BDC

Several institutional investors and hedge funds have recently bought and sold shares of the business. Catalyst Capital Advisors LLC bought a new position in shares of Crescent Capital BDC during the 2nd quarter worth about $69,000. Aquatic Capital Management LLC bought a new position in Crescent Capital BDC during the fourth quarter worth about $129,000. First Affirmative Financial Network acquired a new stake in Crescent Capital BDC during the first quarter valued at approximately $199,000. XTX Topco Ltd bought a new stake in shares of Crescent Capital BDC in the 2nd quarter valued at approximately $165,000. Finally, NewEdge Advisors LLC raised its holdings in shares of Crescent Capital BDC by 4,308.4% in the 4th quarter. NewEdge Advisors LLC now owns 12,079 shares of the company's stock worth $232,000 after buying an additional 11,805 shares in the last quarter. Institutional investors own 49.46% of the company's stock.

About Crescent Capital BDC

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.