Atwood & Palmer Inc. Purchases New Stake in Palmer Square Capital BDC Inc. (NYSE:PSBD)

Atwood & Palmer Inc. acquired a new stake in shares of Palmer Square Capital BDC Inc. (NYSE:PSBD - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 34,010 shares of the company's stock, valued at approximately $453,000. Atwood & Palmer Inc. owned approximately 0.10% of Palmer Square Capital BDC at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in PSBD. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Palmer Square Capital BDC by 91.4% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 160,740 shares of the company's stock worth $2,141,000 after buying an additional 76,743 shares during the period. Confluence Investment Management LLC raised its holdings in shares of Palmer Square Capital BDC by 1.0% in the first quarter. Confluence Investment Management LLC now owns 105,639 shares of the company's stock valued at $1,407,000 after acquiring an additional 1,093 shares in the last quarter. Pandi LLC bought a new stake in shares of Palmer Square Capital BDC in the fourth quarter valued at about $13,860,000. Cubist Systematic Strategies LLC grew its holdings in Palmer Square Capital BDC by 995.9% during the 4th quarter. Cubist Systematic Strategies LLC now owns 2,433 shares of the company's stock worth $37,000 after acquiring an additional 2,211 shares in the last quarter. Finally, Citadel Advisors LLC grew its holdings in Palmer Square Capital BDC by 32.9% during the 4th quarter. Citadel Advisors LLC now owns 42,203 shares of the company's stock worth $641,000 after acquiring an additional 10,457 shares in the last quarter. 6.52% of the stock is owned by hedge funds and other institutional investors.

Palmer Square Capital BDC Trading Up 1.8%

NYSE:PSBD traded up $0.25 during trading hours on Friday, reaching $14.21. 114,882 shares of the company were exchanged, compared to its average volume of 31,814. The firm has a market cap of $459.86 million, a PE ratio of 7.40 and a beta of 0.83. Palmer Square Capital BDC Inc. has a twelve month low of $11.51 and a twelve month high of $16.85. The stock's 50-day moving average is $13.27 and its 200-day moving average is $14.63.

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 for the quarter, missing the consensus estimate of $0.44 by ($0.04). Palmer Square Capital BDC had a return on equity of 11.97% and a net margin of 41.67%. The company had revenue of $31.21 million for the quarter, compared to analyst estimates of $32.55 million. As a group, research analysts anticipate 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 announced a quarterly dividend, which will be paid on Monday, July 14th. Stockholders of record on Friday, June 27th will be given a $0.36 dividend. The ex-dividend date is Friday, June 27th. This represents a $1.44 annualized dividend and a dividend yield of 10.14%. Palmer Square Capital BDC's dividend payout ratio (DPR) is presently 288.00%.

Analysts Set New Price Targets

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

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.