Palmer Square Capital BDC Inc. (NYSE:PSBD) Shares Bought by Arlington Partners LLC

Arlington Partners LLC boosted its stake in Palmer Square Capital BDC Inc. (NYSE:PSBD - Free Report) by 11.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 333,765 shares of the company's stock after acquiring an additional 33,276 shares during the quarter. Palmer Square Capital BDC accounts for about 1.7% of Arlington Partners LLC's portfolio, making the stock its 24th biggest holding. Arlington Partners LLC owned 1.02% of Palmer Square Capital BDC worth $4,446,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its holdings in shares of Palmer Square Capital BDC by 72.0% during the 4th quarter. Franklin Resources Inc. now owns 57,866 shares of the company's stock worth $880,000 after purchasing an additional 24,232 shares during the last quarter. Bank of America Corp DE lifted its position in Palmer Square Capital BDC by 21.0% during the fourth quarter. Bank of America Corp DE now owns 262,383 shares of the company's stock worth $3,988,000 after buying an additional 45,519 shares in the last quarter. Sunesis Advisors LLC acquired a new position in Palmer Square Capital BDC during the first quarter worth $6,287,000. Citadel Advisors LLC grew its holdings in Palmer Square Capital BDC by 32.9% in the 4th quarter. Citadel Advisors LLC now owns 42,203 shares of the company's stock valued at $641,000 after buying an additional 10,457 shares in the last quarter. Finally, Bienville Capital Management LLC grew its holdings in Palmer Square Capital BDC by 61.9% in the 4th quarter. Bienville Capital Management LLC now owns 676,406 shares of the company's stock valued at $10,606,000 after buying an additional 258,643 shares in the last quarter. Hedge funds and other institutional investors own 6.52% of the company's stock.

Palmer Square Capital BDC Trading Down 2.2%

NYSE PSBD traded down $0.32 during trading hours on Wednesday, reaching $14.29. The company had a trading volume of 30,996 shares, compared to its average volume of 32,557. The stock has a market capitalization of $462.57 million, a P/E ratio of 28.58 and a beta of 0.83. The stock has a 50-day moving average of $13.54 and a 200 day moving average of $14.54. Palmer Square Capital BDC Inc. has a 1-year low of $11.51 and a 1-year high of $16.85.

Palmer Square Capital BDC (NYSE:PSBD - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.44 by ($0.04). The company had revenue of $31.21 million during the quarter, compared to analysts' expectations of $32.55 million. Palmer Square Capital BDC had a net margin of 11.72% and a return on equity of 11.04%. As a group, sell-side analysts predict that Palmer Square Capital BDC Inc. will post 1.96 EPS for the current year.

Palmer Square Capital BDC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 14th. Shareholders of record on Friday, June 27th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 10.08%. The ex-dividend date is Friday, June 27th. Palmer Square Capital BDC's dividend payout ratio (DPR) is 288.00%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Palmer Square Capital BDC from $16.00 to $13.50 and set an "overweight" rating for the company in a report on Thursday, April 24th. UBS Group decreased their target price on shares of Palmer Square Capital BDC from $16.50 to $14.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Oppenheimer downgraded shares of Palmer Square Capital BDC from an "outperform" rating to a "market perform" rating and cut their price target for the stock from $17.00 to $14.00 in a report on Friday, May 9th. Wall Street Zen lowered shares of Palmer Square Capital BDC from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, Royal Bank Of Canada decreased their price objective on Palmer Square Capital BDC from $17.00 to $15.00 and set an "outperform" rating on the stock in a report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $14.13.

Palmer Square Capital BDC Profile

Palmer Square Capital BDC Inc is an externally managed, non-diversified closed-end management investment company which primarily lends to and invests in corporate debt securities, including small to large private U.S. companies and has elected to be regulated as a business development company. Palmer Square Capital BDC Inc is based in MISSION WOODS, Kan.