Palmer Square Capital BDC (NYSE:PSBD) Releases Earnings Results, Misses Estimates By $0.01 EPS

Palmer Square Capital BDC (NYSE:PSBD) posted its quarterly earnings data on Thursday. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01), Zacks reports. Palmer Square Capital BDC had a return on equity of 10.77% and a net margin of 10.85%.The business had revenue of ($0.31) million for the quarter, compared to analyst estimates of $30.11 million.

Palmer Square Capital BDC Stock Down 2.0%

Shares of Palmer Square Capital BDC stock traded down $0.21 on Friday, hitting $10.44. The stock had a trading volume of 130,340 shares, compared to its average volume of 83,560. The stock has a market cap of $328.64 million, a price-to-earnings ratio of 24.28 and a beta of 0.68. Palmer Square Capital BDC has a twelve month low of $10.10 and a twelve month high of $15.64. The business’s 50 day moving average is $11.73 and its two-hundred day moving average is $12.43.

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 issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 13.8%. The ex-dividend date is Friday, March 27th. Palmer Square Capital BDC’s payout ratio is currently 334.88%.

Institutional Trading of Palmer Square Capital BDC

Institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC bought a new position in Palmer Square Capital BDC during the 1st quarter worth $360,000. Bank of America Corp DE grew its stake in shares of Palmer Square Capital BDC by 5.0% in the second quarter. Bank of America Corp DE now owns 300,575 shares of the company’s stock valued at $4,196,000 after acquiring an additional 14,220 shares in the last quarter. Two Sigma Investments LP grew its stake in shares of Palmer Square Capital BDC by 142.9% in the third quarter. Two Sigma Investments LP now owns 131,545 shares of the company’s stock valued at $1,614,000 after acquiring an additional 77,393 shares in the last quarter. Citadel Advisors LLC bought a new position in Palmer Square Capital BDC during the third quarter worth about $230,000. Finally, Millennium Management LLC raised its stake in Palmer Square Capital BDC by 2.0% in the 3rd quarter. Millennium Management LLC now owns 134,249 shares of the company’s stock worth $1,647,000 after purchasing an additional 2,638 shares in the last quarter. 6.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on PSBD shares. UBS Group decreased 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 cut Palmer Square Capital BDC from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, November 26th. Four analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $13.00.

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.