Arlington Partners LLC Grows Stock Holdings in Palmer Square Capital BDC Inc. (NYSE:PSBD)

Arlington Partners LLC boosted its stake in shares of Palmer Square Capital BDC Inc. (NYSE:PSBD - Free Report) by 11.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 333,765 shares of the company's stock after buying an additional 33,276 shares during the quarter. Palmer Square Capital BDC makes up 1.7% of Arlington Partners LLC's portfolio, making the stock its 24th largest position. Arlington Partners LLC owned 1.02% of Palmer Square Capital BDC worth $4,446,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PSBD. Cubist Systematic Strategies LLC raised its holdings in shares of Palmer Square Capital BDC by 995.9% in the 4th quarter. Cubist Systematic Strategies LLC now owns 2,433 shares of the company's stock valued at $37,000 after purchasing an additional 2,211 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Palmer Square Capital BDC by 271.5% in the 4th quarter. Wells Fargo & Company MN now owns 7,501 shares of the company's stock valued at $114,000 after purchasing an additional 5,482 shares in the last quarter. Marble Harbor Investment Counsel LLC raised its holdings in shares of Palmer Square Capital BDC by 24.3% in the 4th quarter. Marble Harbor Investment Counsel LLC now owns 31,950 shares of the company's stock valued at $486,000 after purchasing an additional 6,250 shares in the last quarter. Atwood & Palmer Inc. bought a new stake in shares of Palmer Square Capital BDC in the 1st quarter valued at about $453,000. Finally, Citadel Advisors LLC raised its holdings in shares of 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 purchasing an additional 10,457 shares in the last quarter. Institutional investors own 6.52% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on PSBD. Wall Street Zen upgraded shares of Palmer Square Capital BDC from a "sell" rating to a "hold" rating in a report on Friday. Oppenheimer lowered shares of Palmer Square Capital BDC from an "outperform" rating to a "market perform" rating and reduced their price objective for the stock from $17.00 to $14.00 in a research note on Friday, May 9th. UBS Group reduced their price objective on shares of Palmer Square Capital BDC from $16.50 to $14.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. JPMorgan Chase & Co. reduced 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 research note on Thursday, April 24th. Finally, Royal Bank Of Canada reduced their price objective on shares of Palmer Square Capital BDC from $17.00 to $15.00 and set an "outperform" rating for the company in a research note on Thursday, May 22nd. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $14.13.

Palmer Square Capital BDC Stock Down 4.1%

Shares of NYSE PSBD traded down $0.60 during trading hours on Friday, hitting $13.99. 36,472 shares of the stock were exchanged, compared to its average volume of 32,912. The company has a market cap of $452.69 million, a PE ratio of 27.97 and a beta of 0.83. Palmer Square Capital BDC Inc. has a 12 month low of $11.51 and a 12 month high of $16.85. The firm has a fifty day moving average price of $13.60 and a 200-day moving average price of $14.53.

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

Palmer Square Capital BDC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 14th. Shareholders of record on Friday, June 27th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 10.30%. The ex-dividend date of this dividend is Friday, June 27th. Palmer Square Capital BDC's dividend payout ratio is presently 288.00%.

Palmer Square Capital BDC Company 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.