JPMorgan Chase & Co. Issues Positive Forecast for Palmer Square Capital BDC (NYSE:PSBD) Stock Price

Key Points

• JPMorgan Chase & Co. raised its target price for Palmer Square Capital BDC (NYSE:PSBD) from $13.00 to $14.00, indicating a potential upside of 1.16% from the stock's previous close.
• Palmer Square Capital BDC's stock is currently rated as a “Hold” by analysts, with an average price target of $14.38.
• The company's recent quarterly earnings report showed a return on equity of 11.04% and beat analysts' expectations by reporting earnings of $0.43 per share.

Palmer Square Capital BDC (NYSE:PSBD - Get Free Report) had its price objective upped by JPMorgan Chase & Co. from $13.00 to $14.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price would indicate a potential downside of 0.19% from the stock's previous close.

A number of other brokerages have also recently weighed in on PSBD. Oppenheimer cut shares of Palmer Square Capital BDC from an "outperform" rating to a "market perform" rating and cut their price objective for the stock from $17.00 to $14.00 in a report on Friday, May 9th. UBS Group restated a "neutral" rating and issued a $14.50 price objective on shares of Palmer Square Capital BDC in a report on Wednesday, July 16th. Wall Street Zen upgraded shares of Palmer Square Capital BDC from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Finally, Royal Bank Of Canada dropped 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. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $14.38.

Palmer Square Capital BDC Trading Up 1.9%

Shares of PSBD stock traded up $0.26 during mid-day trading on Thursday, reaching $14.03. The stock had a trading volume of 73,086 shares, compared to its average volume of 36,540. The stock's 50-day moving average price is $14.05 and its two-hundred day moving average price is $14.14. Palmer Square Capital BDC has a 52-week low of $11.51 and a 52-week high of $16.83. The firm has a market capitalization of $450.66 million, a PE ratio of 25.05 and a beta of 0.82.

Palmer Square Capital BDC (NYSE:PSBD - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.02. Palmer Square Capital BDC had a net margin of 13.51% and a return on equity of 10.91%. The company had revenue of $31.68 million for the quarter, compared to analysts' expectations of $30.29 million. On average, equities research analysts forecast that Palmer Square Capital BDC will post 1.96 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Gibson Capital LLC purchased a new stake in shares of Palmer Square Capital BDC in the second quarter worth $174,000. Arlington Partners LLC increased its stake in shares of Palmer Square Capital BDC by 38.3% in the second quarter. Arlington Partners LLC now owns 461,609 shares of the company's stock worth $6,444,000 after purchasing an additional 127,844 shares in the last quarter. 1248 Management LLC increased its stake in shares of Palmer Square Capital BDC by 36.0% in the first quarter. 1248 Management LLC now owns 2,954,713 shares of the company's stock worth $40,509,000 after purchasing an additional 782,271 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Palmer Square Capital BDC in the first quarter worth $360,000. Finally, Sunesis Advisors LLC purchased a new stake in shares of Palmer Square Capital BDC in the first quarter worth $6,287,000. 6.52% of the stock is currently owned by institutional investors.

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.