Bank of America Corp DE Purchases 45,519 Shares of Palmer Square Capital BDC Inc. (NYSE:PSBD)

Bank of America Corp DE increased its holdings in shares of Palmer Square Capital BDC Inc. (NYSE:PSBD - Free Report) by 21.0% during the fourth quarter, according to its most recent disclosure 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 quarter. Bank of America Corp DE owned about 0.80% of Palmer Square Capital BDC worth $3,988,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Wells Fargo & Company MN increased its holdings in Palmer Square Capital BDC by 271.5% during the 4th quarter. Wells Fargo & Company MN now owns 7,501 shares of the company's stock worth $114,000 after purchasing an additional 5,482 shares during the period. Marble Harbor Investment Counsel LLC boosted its stake in Palmer Square Capital BDC by 24.3% during the 4th quarter. Marble Harbor Investment Counsel LLC now owns 31,950 shares of the company's stock worth $486,000 after purchasing an additional 6,250 shares during the period. Franklin Resources Inc. boosted its stake in 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 period. Bank of New York Mellon Corp grew 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 during the last quarter. Finally, Bienville Capital Management LLC grew 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 during the last quarter. Institutional investors and hedge funds own 6.52% of the company's stock.

Insider Buying and Selling at Palmer Square Capital BDC

In related news, President Matthew L. Bloomfield bought 4,000 shares of the company's stock in a transaction dated Thursday, March 6th. The stock was acquired at an average cost of $15.48 per share, with a total value of $61,920.00. Following the acquisition, the president now owns 41,478 shares in the company, valued at approximately $642,079.44. This represents a 10.67% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.96% of the company's stock.

Palmer Square Capital BDC Trading Down 0.4%

Shares of Palmer Square Capital BDC stock traded down $0.06 on Monday, reaching $13.93. 26,253 shares of the company were exchanged, compared to its average volume of 30,580. The stock has a fifty day moving average price of $13.25 and a 200-day moving average price of $14.73. The firm has a market capitalization of $450.79 million, a price-to-earnings ratio of 7.25 and a beta of 0.63. Palmer Square Capital BDC Inc. has a fifty-two week low of $11.51 and a fifty-two week high of $16.85.

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). Palmer Square Capital BDC had a net margin of 41.67% and a return on equity of 11.97%. The business had revenue of $31.21 million for the quarter, compared to analysts' expectations of $32.55 million. On average, 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 firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 14th. Investors of record on Friday, June 27th will be given a dividend of $0.36 per share. The ex-dividend date is Friday, June 27th. This represents a $1.44 annualized dividend and a dividend yield of 10.34%. Palmer Square Capital BDC's dividend payout ratio is presently 288.00%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PSBD. Oppenheimer downgraded Palmer Square Capital BDC from an "outperform" rating to a "market perform" rating and decreased their price target for the company from $17.00 to $14.00 in a research note on Friday, May 9th. UBS Group reduced their price objective on Palmer Square Capital BDC from $16.50 to $14.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. Royal Bank of Canada decreased their price target 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. JPMorgan Chase & Co. dropped their target price on 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, Wall Street Zen lowered Palmer Square Capital BDC from a "hold" rating to a "sell" rating in a research note 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 stock. According to data from MarketBeat, Palmer Square Capital BDC has a consensus rating of "Hold" and an average price target 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.