JPMorgan Chase & Co. Reaffirms Neutral Rating for Palmer Square Capital BDC (NYSE:PSBD)

Key Points

• JPMorgan Chase & Co. has reaffirmed a "neutral" rating for Palmer Square Capital BDC (NYSE: PSBD) with a revised price target of $12.00, indicating a potential downside of 2.60% from the current price.
• Palmer Square Capital BDC has recently reported quarterly earnings of $0.43 per share, beating estimates, with a revenue of $31.68 million for the quarter.
• Institutional investors have been active in buying shares of Palmer Square Capital BDC, with significant increases in holdings from multiple firms, highlighting growing interest in the company.

Palmer Square Capital BDC (NYSE:PSBD - Get Free Report)'s stock had its "neutral" rating reaffirmed by equities researchers at JPMorgan Chase & Co. in a research report issued on Wednesday,Benzinga reports. They currently have a $12.00 price objective on the stock, down from their previous price objective of $14.00. JPMorgan Chase & Co.'s target price would suggest a potential downside of 2.60% from the stock's current price.

A number of other research analysts also recently commented on PSBD. UBS Group reaffirmed a "neutral" rating and issued a $14.50 price target on shares of Palmer Square Capital BDC in a research note on Wednesday, July 16th. Wall Street Zen raised Palmer Square Capital BDC from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $13.88.

Palmer Square Capital BDC Trading Down 0.5%

NYSE PSBD opened at $12.32 on Wednesday. Palmer Square Capital BDC has a 1-year low of $11.51 and a 1-year high of $16.32. The company has a 50 day moving average of $13.70 and a 200-day moving average of $13.69. The company has a market cap of $395.79 million, a price-to-earnings ratio of 22.00 and a beta of 0.82.

Palmer Square Capital BDC (NYSE:PSBD - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.02. The firm had revenue of $31.68 million during the quarter, compared to analysts' expectations of $30.29 million. Palmer Square Capital BDC had a return on equity of 10.91% and a net margin of 13.51%. 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

Several institutional investors have recently bought and sold shares of PSBD. 1248 Management LLC increased its position in Palmer Square Capital BDC by 36.0% during the 1st 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. Sunesis Advisors LLC acquired a new position in Palmer Square Capital BDC during the 1st quarter worth approximately $6,287,000. Arlington Partners LLC increased its holdings in shares of Palmer Square Capital BDC by 38.3% during the second quarter. Arlington Partners LLC now owns 461,609 shares of the company's stock worth $6,444,000 after buying an additional 127,844 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in shares of Palmer Square Capital BDC by 91.4% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 160,740 shares of the company's stock worth $2,141,000 after buying an additional 76,743 shares in the last quarter. Finally, Atwood & Palmer Inc. acquired a new position in shares of Palmer Square Capital BDC during the first quarter worth $453,000. Institutional investors and hedge funds own 6.52% of the company's stock.

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.

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