Palmer Square Capital BDC (NYSE:PSBD) Trading Down 0.4% - Time to Sell?

Key Points

• Palmer Square Capital BDC's stock has decreased 0.4% to $13.87, following a notable increase in trading volume of 51%.
• Analyst ratings are mixed, with upgrades and downgrades; the current consensus is a "Moderate Buy" with a price target of $14.38.
• The company announced a quarterly dividend of $0.36 per share, with a substantial annualized yield of 10.4%.

Palmer Square Capital BDC Inc. (NYSE:PSBD - Get Free Report) shares traded down 0.4% during mid-day trading on Wednesday . The company traded as low as $13.80 and last traded at $13.87. 115,271 shares were traded during mid-day trading, an increase of 51% from the average session volume of 76,516 shares. The stock had previously closed at $13.92.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Wall Street Zen raised Palmer Square Capital BDC from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. JPMorgan Chase & Co. boosted their price target 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. UBS Group reiterated a "neutral" rating and issued a $14.50 price target on shares of Palmer Square Capital BDC in a report on Wednesday, July 16th. Oppenheimer downgraded Palmer Square Capital BDC from an "outperform" rating to a "market perform" rating and lowered their price target for the company from $17.00 to $14.00 in a report on Friday, May 9th. Finally, Royal Bank Of Canada lowered their price target on Palmer Square Capital BDC from $17.00 to $15.00 and set an "outperform" rating for the company in a report on Thursday, May 22nd. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $14.38.

Palmer Square Capital BDC Stock Performance

The stock has a market capitalization of $452.71 million, a P/E ratio of 25.16 and a beta of 0.82. The stock has a 50 day moving average of $13.99 and a 200 day moving average of $13.96.

Palmer Square Capital BDC (NYSE:PSBD - Get Free Report) last issued 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 firm had revenue of $31.68 million during 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%. On average, research analysts anticipate that Palmer Square Capital BDC Inc. will post 1.96 EPS for the current fiscal year.

Palmer Square Capital BDC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 14th. Investors of record on Friday, September 26th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 10.2%. The ex-dividend date is Friday, September 26th. Palmer Square Capital BDC's dividend payout ratio is presently 257.14%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Cubist Systematic Strategies LLC grew 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 purchasing an additional 2,211 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of Palmer Square Capital BDC by 271.5% in the fourth quarter. Wells Fargo & Company MN now owns 7,501 shares of the company's stock worth $114,000 after purchasing an additional 5,482 shares in the last quarter. Gibson Capital LLC bought a new position in shares of Palmer Square Capital BDC in the second quarter worth $174,000. Jane Street Group LLC bought a new position in shares of Palmer Square Capital BDC in the first quarter worth $360,000. Finally, Atwood & Palmer Inc. bought a new position in shares of Palmer Square Capital BDC in the first quarter worth $453,000. Institutional investors 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.