Sunesis Advisors LLC Makes New $6.29 Million Investment in Palmer Square Capital BDC Inc. (NYSE:PSBD)

Sunesis Advisors LLC purchased a new position in shares of Palmer Square Capital BDC Inc. (NYSE:PSBD - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 472,034 shares of the company's stock, valued at approximately $6,287,000. Palmer Square Capital BDC comprises 3.4% of Sunesis Advisors LLC's holdings, making the stock its 8th biggest holding. Sunesis Advisors LLC owned approximately 1.45% of Palmer Square Capital BDC at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of PSBD. Bank of New York Mellon Corp grew its position in shares of Palmer Square Capital BDC by 120.3% in the fourth 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. Marble Harbor Investment Counsel LLC grew its position in shares of Palmer Square Capital BDC by 24.3% in the fourth 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 during the last quarter. Franklin Resources Inc. grew its position in shares of Palmer Square Capital BDC by 72.0% in the fourth 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 during the last quarter. Wells Fargo & Company MN grew its position in shares of Palmer Square Capital BDC by 271.5% in the fourth 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 during the last quarter. Finally, Mariner LLC grew its position in shares of Palmer Square Capital BDC by 97.7% in the fourth quarter. Mariner LLC now owns 2,275,470 shares of the company's stock valued at $34,587,000 after purchasing an additional 1,124,766 shares during the last quarter. Institutional investors and hedge funds own 6.52% of the company's stock.

Palmer Square Capital BDC Price Performance

NYSE:PSBD traded down $0.60 during trading hours on Friday, reaching $13.99. 36,472 shares of the company were exchanged, compared to its average volume of 32,912. The company has a market capitalization of $452.69 million, a P/E ratio of 27.97 and a beta of 0.83. Palmer Square Capital BDC Inc. has a 1-year low of $11.51 and a 1-year high of $16.85. The business has a 50 day moving average of $13.60 and a 200 day moving average 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). Palmer Square Capital BDC had a return on equity of 11.04% and a net margin of 11.72%. The business had revenue of $31.21 million for the quarter, compared to the consensus estimate of $32.55 million. As a group, equities research analysts anticipate that Palmer Square Capital BDC Inc. will post 1.96 earnings per share for the current fiscal year.

Palmer Square Capital BDC Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on PSBD shares. Royal Bank Of Canada decreased their target price on Palmer Square Capital BDC from $17.00 to $15.00 and set an "outperform" rating on the stock in a research report on Thursday, May 22nd. Oppenheimer downgraded Palmer Square Capital BDC from an "outperform" rating to a "market perform" rating and reduced their price target for the stock from $17.00 to $14.00 in a research report on Friday, May 9th. JPMorgan Chase & Co. reduced their price target on Palmer Square Capital BDC from $16.00 to $13.50 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Wall Street Zen raised Palmer Square Capital BDC from a "sell" rating to a "hold" rating in a research report on Friday. Finally, UBS Group reduced 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 report on Thursday, April 17th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Palmer Square Capital BDC currently has an average rating of "Hold" and an average 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.