Palmer Square Capital BDC Inc. (NYSE:PSBD) Plans Quarterly Dividend of $0.36

Key Points

• Palmer Square Capital BDC Inc. declared a quarterly dividend of $0.36 per share, with the payment date set for October 14th for shareholders of record as of September 26th.
• The company's stock experienced a 1.9% decline during trading, reaching a price of $13.84, while having a market cap of $448.04 million.
• Palmer Square Capital BDC reported earnings per share (EPS) of $0.43 for the latest quarter, surpassing analyst estimates and achieving a revenue of $31.68 million.

Palmer Square Capital BDC Inc. (NYSE:PSBD - Get Free Report) announced a quarterly dividend on Thursday, August 7th, Wall Street Journal reports. Shareholders of record on Friday, September 26th will be given a dividend of 0.36 per share on Tuesday, October 14th. This represents a c) annualized dividend and a dividend yield of 10.3%. The ex-dividend date of this dividend is Friday, September 26th.

Palmer Square Capital BDC Stock Up 1.2%

Shares of NYSE PSBD traded up $0.16 during trading hours on Monday, reaching $13.93. 1,639 shares of the stock traded hands, compared to its average volume of 37,097. The company's 50-day simple moving average is $14.05 and its two-hundred day simple moving average is $14.16. The company has a market capitalization of $447.60 million, a P/E ratio of 24.88 and a beta of 0.82. Palmer Square Capital BDC has a 52-week low of $11.51 and a 52-week high of $16.83.

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

Analysts Set New Price Targets

Several analysts recently commented on PSBD shares. UBS Group reiterated a "neutral" rating and set a $14.50 price target on shares of Palmer Square Capital BDC in a research report on Wednesday, July 16th. JPMorgan Chase & Co. raised their price objective on Palmer Square Capital BDC from $13.00 to $14.00 and gave the company an "overweight" rating in a research note on Thursday. Oppenheimer downgraded Palmer Square Capital BDC from an "outperform" rating to a "market perform" rating and lowered their price objective for the company from $17.00 to $14.00 in a research report on Friday, May 9th. Royal Bank Of Canada cut 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 raised 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 issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $14.38.

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.