Wall Street Zen Upgrades Palmer Square Capital BDC (NYSE:PSBD) to Hold

Palmer Square Capital BDC (NYSE:PSBD - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Friday.

A number of other equities research analysts have also weighed in on the stock. UBS Group lowered their price target on shares of Palmer Square Capital BDC from $16.50 to $14.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. Royal Bank Of Canada reduced their price objective 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. 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. Finally, JPMorgan Chase & Co. reduced their price target on shares of Palmer Square Capital BDC from $16.00 to $13.50 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $14.13.

Palmer Square Capital BDC Price Performance

PSBD traded down $0.03 during trading hours on Friday, reaching $13.89. 22,529 shares of the stock traded hands, compared to its average volume of 32,855. The firm's fifty day simple moving average is $13.65 and its two-hundred day simple moving average is $14.49. The company has a market cap of $449.62 million, a price-to-earnings ratio of 7.65 and a beta of 0.82. Palmer Square Capital BDC has a fifty-two week low of $11.51 and a fifty-two week high of $16.85.

Palmer Square Capital BDC (NYSE:PSBD - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.40 earnings per share for the quarter, missing analysts' consensus estimates of $0.44 by ($0.04). The firm had revenue of $31.21 million for the quarter, compared to analyst estimates of $32.55 million. Palmer Square Capital BDC had a net margin of 11.72% and a return on equity of 11.04%. On average, research analysts predict that Palmer Square Capital BDC will post 1.96 earnings per share for the current year.

Institutional Trading of Palmer Square Capital BDC

Hedge funds have recently bought and sold shares of the company. Franklin Resources Inc. increased its stake in Palmer Square Capital BDC by 72.0% during the 4th quarter. Franklin Resources Inc. now owns 57,866 shares of the company's stock valued at $880,000 after buying an additional 24,232 shares during the period. Sunesis Advisors LLC acquired a new position in Palmer Square Capital BDC during the 1st quarter valued at about $6,287,000. Bank of America Corp DE increased its stake in Palmer Square Capital BDC by 21.0% during the 4th quarter. Bank of America Corp DE now owns 262,383 shares of the company's stock valued at $3,988,000 after buying an additional 45,519 shares during the period. Citadel Advisors LLC increased its stake in Palmer Square Capital BDC by 32.9% during the 4th quarter. Citadel Advisors LLC now owns 42,203 shares of the company's stock valued at $641,000 after buying an additional 10,457 shares during the period. Finally, Bienville Capital Management LLC increased its stake in Palmer Square Capital BDC by 61.9% during the 4th quarter. Bienville Capital Management LLC now owns 676,406 shares of the company's stock valued at $10,606,000 after buying an additional 258,643 shares during the period. 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.