JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Palmer Square Capital BDC (NYSE:PSBD) Stock

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 target price lifted by investment analysts at JPMorgan Chase & Co. from $13.00 to $14.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 1.16% from the company's previous close.

Several other research firms have also issued reports on PSBD. UBS Group reissued a "neutral" rating and set a $14.50 target price on shares of Palmer Square Capital BDC in a research note on Wednesday, July 16th. Oppenheimer downgraded shares of 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. Royal Bank Of Canada lowered their price target on 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. Finally, Wall Street Zen upgraded shares of Palmer Square Capital BDC from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Palmer Square Capital BDC presently has a consensus rating of "Hold" and an average price target of $14.38.

Palmer Square Capital BDC Stock Down 1.9%

Shares of NYSE PSBD traded down $0.27 during trading hours on Thursday, hitting $13.84. 17,157 shares of the stock were exchanged, compared to its average volume of 37,419. Palmer Square Capital BDC has a 12 month low of $11.51 and a 12 month high of $16.84. The firm has a fifty day moving average price of $14.05 and a 200-day moving average price of $14.20. The company has a market cap of $448.04 million, a PE ratio of 27.68 and a beta of 0.82.

Palmer Square Capital BDC (NYSE:PSBD - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.43 earnings per share for the quarter, topping analysts' consensus estimates of $0.41 by $0.02. Palmer Square Capital BDC had a return on equity of 11.04% and a net margin of 11.72%. The firm had revenue of $31.68 million during the quarter, compared to analysts' expectations of $30.29 million. As a group, equities analysts anticipate that Palmer Square Capital BDC will post 1.96 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Palmer Square Capital BDC

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PSBD. Cubist Systematic Strategies LLC lifted its stake in shares of Palmer Square Capital BDC by 995.9% in the fourth quarter. Cubist Systematic Strategies LLC now owns 2,433 shares of the company's stock worth $37,000 after acquiring an additional 2,211 shares during the period. Wells Fargo & Company MN boosted its position in Palmer Square Capital BDC by 271.5% during the fourth quarter. Wells Fargo & Company MN now owns 7,501 shares of the company's stock valued at $114,000 after acquiring an additional 5,482 shares during the last quarter. Gibson Capital LLC bought a new position in shares of Palmer Square Capital BDC in the 2nd quarter worth about $174,000. Jane Street Group LLC bought a new stake in shares of Palmer Square Capital BDC during the 1st quarter valued at about $360,000. Finally, Atwood & Palmer Inc. bought a new position in shares of Palmer Square Capital BDC in the first quarter valued at $453,000. Institutional investors own 6.52% of the company's stock.

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.

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