Palmer Square Capital BDC Inc. (NYSE:PSBD) Short Interest Down 41.7% in August

Key Points

• Palmer Square Capital BDC Inc. saw a significant decrease of 41.7% in short interest in August, with total shares short dropping from 36,200 to 21,100.
• The company announced a quarterly dividend of $0.36 per share, representing an annual yield of 10.4%, with the ex-dividend date set for September 26th.
• Palmer Square's stock has a current market cap of $445.48 million and recently reported an EPS of $0.43, exceeding analyst estimates.

Palmer Square Capital BDC Inc. (NYSE:PSBD - Get Free Report) was the recipient of a significant decrease in short interest in the month of August. As of August 15th, there was short interest totaling 21,100 shares, adecreaseof41.7% from the July 31st total of 36,200 shares. Based on an average trading volume of 51,700 shares, the short-interest ratio is currently 0.4 days. Approximately0.1% of the shares of the stock are sold short. Approximately0.1% of the shares of the stock are sold short. Based on an average trading volume of 51,700 shares, the short-interest ratio is currently 0.4 days.

Institutional Investors Weigh In On Palmer Square Capital BDC

Hedge funds have recently modified their holdings of the stock. Cubist Systematic Strategies LLC raised its holdings in shares of Palmer Square Capital BDC by 995.9% during the 4th quarter. Cubist Systematic Strategies LLC now owns 2,433 shares of the company's stock valued at $37,000 after buying an additional 2,211 shares during the period. Wells Fargo & Company MN raised its holdings in shares of Palmer Square Capital BDC by 271.5% during the 4th quarter. Wells Fargo & Company MN now owns 7,501 shares of the company's stock valued at $114,000 after buying an additional 5,482 shares during the period. Gibson Capital LLC purchased a new stake in shares of Palmer Square Capital BDC during the 2nd quarter valued at about $174,000. Jane Street Group LLC purchased a new stake in shares of Palmer Square Capital BDC during the 1st quarter valued at about $360,000. Finally, Atwood & Palmer Inc. purchased a new stake in shares of Palmer Square Capital BDC during the 1st quarter valued at about $453,000. 6.52% of the stock is currently owned by hedge funds and other institutional investors.

Palmer Square Capital BDC Trading Up 0.2%

Shares of Palmer Square Capital BDC stock traded up $0.03 during trading hours on Friday, reaching $13.87. The stock had a trading volume of 47,553 shares, compared to its average volume of 97,305. The firm has a 50 day simple moving average of $13.96 and a two-hundred day simple moving average of $13.93. The firm has a market capitalization of $445.48 million, a price-to-earnings ratio of 24.76 and a beta of 0.82. Palmer Square Capital BDC has a 1 year low of $11.51 and a 1 year high of $16.82.

Palmer Square Capital BDC (NYSE:PSBD - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.43 EPS for the quarter, topping 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%. Sell-side analysts forecast that Palmer Square Capital BDC will post 1.96 EPS for the current year.

Palmer Square Capital BDC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 14th. Investors of record on Friday, September 26th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 10.4%. The ex-dividend date is Friday, September 26th. Palmer Square Capital BDC's dividend payout ratio (DPR) is presently 257.14%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on PSBD shares. UBS Group reaffirmed a "neutral" rating and set a $14.50 price objective on shares of Palmer Square Capital BDC in a report on Wednesday, July 16th. Oppenheimer lowered Palmer Square Capital BDC from an "outperform" rating to a "market perform" rating and lowered their target price for the company from $17.00 to $14.00 in a report on Friday, May 9th. JPMorgan Chase & Co. upped their target price on Palmer Square Capital BDC from $13.00 to $14.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Royal Bank Of Canada lowered their target price on Palmer Square Capital BDC from $17.00 to $15.00 and set an "outperform" rating on the stock in a report 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. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Palmer Square Capital BDC currently has a consensus rating of "Moderate Buy" and a consensus 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.

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