Bank of America Corp DE Has $3.99 Million Stock Position in Palmer Square Capital BDC Inc. (NYSE:PSBD)

Bank of America Corp DE lifted its stake in Palmer Square Capital BDC Inc. (NYSE:PSBD - Free Report) by 21.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 262,383 shares of the company's stock after acquiring an additional 45,519 shares during the period. Bank of America Corp DE owned approximately 0.80% of Palmer Square Capital BDC worth $3,988,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Wells Fargo & Company MN boosted its stake 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 boosted its stake 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. Franklin Resources Inc. boosted its stake in shares of Palmer Square Capital BDC by 72.0% in the 4th quarter. Franklin Resources Inc. now owns 57,866 shares of the company's stock valued at $880,000 after purchasing an additional 24,232 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Palmer Square Capital BDC by 120.3% in the 4th quarter. Bank of New York Mellon Corp now owns 77,878 shares of the company's stock valued at $1,184,000 after purchasing an additional 42,533 shares in the last quarter. Finally, Bienville Capital Management LLC boosted its stake in shares of 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 purchasing an additional 258,643 shares in the last quarter. Institutional investors and hedge funds own 6.52% of the company's stock.

Palmer Square Capital BDC Stock Performance

NYSE:PSBD traded down $0.02 on Tuesday, hitting $13.85. 29,623 shares of the stock were exchanged, compared to its average volume of 30,557. The stock has a market capitalization of $448.37 million, a price-to-earnings ratio of 7.21 and a beta of 0.63. Palmer Square Capital BDC Inc. has a 52 week low of $11.51 and a 52 week high of $16.85. The company's 50-day moving average price is $13.23 and its 200 day moving average price is $14.71.

Palmer Square Capital BDC (NYSE:PSBD - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $31.21 million for the quarter, compared to the consensus estimate of $32.55 million. Palmer Square Capital BDC had a return on equity of 11.97% and a net margin of 41.67%. As a group, equities research analysts predict that Palmer Square Capital BDC Inc. will post 1.96 earnings per share for the current year.

Palmer Square Capital BDC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 14th. Stockholders of record on Friday, June 27th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 10.40%. Palmer Square Capital BDC's dividend payout ratio (DPR) is presently 288.00%.

Insider Activity

In other Palmer Square Capital BDC news, President Matthew L. Bloomfield acquired 4,000 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The stock was acquired at an average cost of $15.48 per share, for a total transaction of $61,920.00. Following the transaction, the president now owns 41,478 shares of the company's stock, valued at $642,079.44. This trade represents a 10.67% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.96% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PSBD has been the topic of several recent analyst reports. UBS Group reduced 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 research note on Thursday, April 17th. Wall Street Zen cut Palmer Square Capital BDC from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Oppenheimer cut Palmer Square Capital BDC from an "outperform" rating to a "market perform" rating and cut their price target for the company from $17.00 to $14.00 in a report on Friday, May 9th. JPMorgan Chase & Co. cut their price target on 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. Finally, Royal Bank of Canada cut their price target on Palmer Square Capital BDC from $17.00 to $15.00 and set an "outperform" rating for the company 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 assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $14.13.

About Palmer Square Capital BDC

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.