Palmer Square Capital BDC (PSBD) Projected to Post Quarterly Earnings on Thursday

Palmer Square Capital BDC (NYSE:PSBD) will likely be announcing its results before the market opens on Thursday, February 26th. Analysts expect the company to announce earnings of $0.42 per share and revenue of $30.1140 million for the quarter.

Palmer Square Capital BDC Trading Down 0.4%

Shares of PSBD opened at $11.18 on Thursday. The firm has a market cap of $351.85 million, a P/E ratio of 25.99 and a beta of 0.68. Palmer Square Capital BDC has a 12-month low of $11.14 and a 12-month high of $15.74. The company’s 50-day moving average price is $11.87 and its 200 day moving average price is $12.54.

Palmer Square Capital BDC Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 14th. Stockholders of record on Monday, December 29th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 12.9%. The ex-dividend date of this dividend was Monday, December 29th. Palmer Square Capital BDC’s payout ratio is 334.88%.

Hedge Funds Weigh In On Palmer Square Capital BDC

Hedge funds have recently added to or reduced their stakes in the stock. Rivernorth Capital Management LLC purchased a new position in Palmer Square Capital BDC during the 4th quarter worth $7,077,000. Two Sigma Investments LP boosted its stake in shares of Palmer Square Capital BDC by 142.9% during the third quarter. Two Sigma Investments LP now owns 131,545 shares of the company’s stock worth $1,614,000 after buying an additional 77,393 shares during the period. Bank of America Corp DE grew its holdings in shares of Palmer Square Capital BDC by 22.1% during the third quarter. Bank of America Corp DE now owns 367,035 shares of the company’s stock worth $4,504,000 after buying an additional 66,460 shares during the last quarter. Renaissance Technologies LLC increased its position in Palmer Square Capital BDC by 18.8% in the 4th quarter. Renaissance Technologies LLC now owns 183,000 shares of the company’s stock valued at $2,231,000 after acquiring an additional 28,900 shares during the period. Finally, XTX Topco Ltd purchased a new stake in Palmer Square Capital BDC during the 4th quarter valued at approximately $351,000. 6.52% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Royal Bank Of Canada cut shares of Palmer Square Capital BDC from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, November 26th. UBS Group dropped their price objective on Palmer Square Capital BDC from $13.50 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, November 19th. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $13.00.

About Palmer Square Capital BDC

Palmer Square Capital BDC Inc (NYSE: PSBD) is a closed-end, externally managed business development company that provides customized financing solutions to middle-market companies in the United States. The firm offers a broad range of debt and equity products—including first-lien and second-lien senior secured loans, unitranche financings, mezzanine debt and equity co-investments—to support corporate acquisitions, refinancings, growth initiatives and balance sheet restructurings.

PSBD primarily targets established privately owned and sponsored businesses across diverse industries such as healthcare, business services, industrials and consumer products.