Hennion & Walsh Asset Management Inc. Grows Stake in Palmer Square Capital BDC Inc. (NYSE:PSBD)

Hennion & Walsh Asset Management Inc. increased its holdings in shares of Palmer Square Capital BDC Inc. (NYSE:PSBD - Free Report) by 91.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 160,740 shares of the company's stock after purchasing an additional 76,743 shares during the period. Hennion & Walsh Asset Management Inc. owned approximately 0.49% of Palmer Square Capital BDC worth $2,141,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Franklin Resources Inc. raised its holdings in shares of Palmer Square Capital BDC by 72.0% during the fourth 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 raised its holdings in shares of 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 purchasing an additional 45,519 shares during the last quarter. Citadel Advisors LLC raised its holdings in shares of Palmer Square Capital BDC by 32.9% during the fourth quarter. Citadel Advisors LLC now owns 42,203 shares of the company's stock worth $641,000 after purchasing an additional 10,457 shares during the last quarter. Bienville Capital Management LLC grew its position in Palmer Square Capital BDC by 61.9% during the fourth 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 during the period. Finally, Pandi LLC purchased a new position in Palmer Square Capital BDC in the fourth quarter valued at $13,860,000. Hedge funds and other institutional investors own 6.52% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. cut 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. Oppenheimer cut shares of Palmer Square Capital BDC from an "outperform" rating to a "market perform" rating and cut their price objective for the company from $17.00 to $14.00 in a report on Friday, May 9th. UBS Group cut 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 report on Thursday, April 17th. Royal Bank of Canada cut 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 report on Thursday, May 22nd. Finally, Wall Street Zen cut shares of Palmer Square Capital BDC from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $14.13.

Palmer Square Capital BDC Stock Performance

Shares of PSBD stock traded up $0.03 on Friday, reaching $13.89. 56,232 shares of the company were exchanged, compared to its average volume of 30,885. The company has a market cap of $449.66 million, a price-to-earnings ratio of 7.23 and a beta of 0.83. The business has a 50-day moving average price of $13.23 and a 200 day moving average price of $14.67. 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 earnings results on Wednesday, May 7th. The company reported $0.40 EPS for the quarter, missing analysts' consensus estimates 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 11.97% and a net margin of 41.67%. As a group, equities analysts anticipate that Palmer Square Capital BDC Inc. will post 1.96 earnings per share for the current year.

Palmer Square Capital BDC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 14th. Stockholders of record on Friday, June 27th will be paid a dividend of $0.36 per share. The ex-dividend date is Friday, June 27th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 10.37%. Palmer Square Capital BDC's dividend payout ratio is currently 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.