Palmer Square Capital BDC (NYSE:PSBD) Price Target Cut to $10.00 by Analysts at JPMorgan Chase & Co.

Palmer Square Capital BDC (NYSE:PSBD) had its price target decreased by JPMorgan Chase & Co. from $11.50 to $10.00 in a research report report published on Friday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

PSBD has been the subject of a number of other research reports. UBS Group cut their price target 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. Royal Bank Of Canada lowered their price objective on Palmer Square Capital BDC from $13.00 to $12.00 and set a “sector perform” rating on the stock in a research report on Thursday, March 5th. Four investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $11.88.

Palmer Square Capital BDC Price Performance

PSBD opened at $10.32 on Friday. The firm has a market cap of $321.98 million, a P/E ratio of -93.82 and a beta of 0.78. Palmer Square Capital BDC has a 1-year low of $10.10 and a 1-year high of $15.30. The company has a 50 day simple moving average of $11.44 and a two-hundred day simple moving average of $12.18.

Palmer Square Capital BDC (NYSE:PSBD) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). Palmer Square Capital BDC had a positive return on equity of 10.82% and a negative net margin of 2.55%.The firm had revenue of ($0.31) million during the quarter, compared to analysts’ expectations of $30.11 million. Equities analysts anticipate that Palmer Square Capital BDC will post 1.96 earnings per share for the current year.

Palmer Square Capital BDC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Friday, March 27th will be given a dividend of $0.36 per share. The ex-dividend date is Friday, March 27th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 14.0%. Palmer Square Capital BDC’s dividend payout ratio (DPR) is presently -1,309.09%.

Institutional Investors Weigh In On Palmer Square Capital BDC

Hedge funds have recently made changes to their positions in the company. Evolution Wealth Management Inc. bought a new position in Palmer Square Capital BDC during the third quarter valued at approximately $71,000. Harbour Investments Inc. purchased a new position in Palmer Square Capital BDC during the 4th quarter valued at approximately $85,000. Citadel Advisors LLC bought a new stake in Palmer Square Capital BDC in the 3rd quarter worth approximately $230,000. Prime Capital Investment Advisors LLC bought a new stake in Palmer Square Capital BDC in the 3rd quarter worth approximately $301,000. Finally, Clear Harbor Asset Management LLC purchased a new stake in shares of Palmer Square Capital BDC during the 4th quarter worth approximately $305,000. 6.52% of the stock is currently owned by hedge funds and other institutional investors.

Palmer Square Capital BDC Company Profile

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.