Crescent Capital BDC (NASDAQ:CCAP) Shares 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.

Crescent Capital BDC, Inc. (NASDAQ:CCAP - Get Free Report) shares shot up 3.2% during mid-day trading on Thursday after the company announced a dividend. The stock 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 Monday, September 15th. Shareholders of record on Friday, August 29th will be issued a $0.05 dividend. The ex-dividend date is Friday, August 29th. Crescent Capital BDC's dividend payout ratio is 125.37%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CCAP. Raymond James Financial reduced their target price on shares of Crescent Capital BDC from $20.00 to $17.00 and set an "outperform" rating on the stock in a report on Friday, May 16th. Wall Street Zen upgraded shares of Crescent Capital BDC from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Keefe, Bruyette & Woods upgraded shares of Crescent Capital BDC from a "hold" rating to a "moderate buy" rating in a report on Tuesday, July 22nd. Finally, Wells Fargo & Company cut their price objective on shares of 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. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $17.60.

Crescent Capital BDC Stock Performance

The firm has a market capitalization of $561.83 million, a PE ratio of 11.31 and a beta of 0.55. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.09 and a current ratio of 1.09. The company's fifty day moving average price is $14.47 and its two-hundred day moving average price is $16.12.

Crescent Capital BDC (NASDAQ:CCAP - Get Free Report) last announced its quarterly earnings data on Wednesday, August 13th. The company reported $0.46 earnings per share for the quarter, hitting the consensus estimate of $0.46. Crescent Capital BDC had a net margin of 26.20% and a return on equity of 11.10%. The business had revenue of $42.99 million for the quarter, compared to analyst estimates of $42.52 million. As a group, equities analysts expect that Crescent Capital BDC, Inc. will post 2.09 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Jump Financial LLC purchased a new position in Crescent Capital BDC in the second quarter valued at approximately $286,000. Invesco Ltd. raised its holdings in Crescent Capital BDC by 31.4% in the second quarter. Invesco Ltd. now owns 38,377 shares of the company's stock valued at $541,000 after buying an additional 9,180 shares during the period. Quantbot Technologies LP purchased a new position in Crescent Capital BDC in the second quarter valued at approximately $219,000. Icon Advisers Inc. Co. raised its holdings in Crescent Capital BDC by 20.2% in the second quarter. Icon Advisers Inc. Co. now owns 69,973 shares of the company's stock valued at $987,000 after buying an additional 11,753 shares during the period. Finally, Virtus Investment Advisers LLC grew its position in Crescent Capital BDC by 6.6% in the second quarter. Virtus Investment Advisers LLC now owns 56,892 shares of the company's stock valued at $802,000 after acquiring an additional 3,538 shares in the last quarter. Hedge funds and other institutional investors 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.

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