Palmer Square Capital BDC (NYSE:PSBD) Sees Unusually-High Trading Volume

Palmer Square Capital BDC Inc. (NYSE:PSBD) saw unusually-high trading volume on Tuesday . Approximately 113,966 shares changed hands during mid-day trading, an increase of 122% from the previous session’s volume of 51,308 shares.The stock last traded at $16.15 and had previously closed at $16.20.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada reiterated an “outperform” rating and set a $17.00 price objective on shares of Palmer Square Capital BDC in a report on Tuesday, August 13th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Palmer Square Capital BDC has a consensus rating of “Moderate Buy” and a consensus price target of $16.93.

Palmer Square Capital BDC Stock Performance

The firm has a 50 day moving average of $16.30 and a 200-day moving average of $16.40.

Palmer Square Capital BDC (NYSE:PSBD) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.03). Palmer Square Capital BDC had a net margin of 64.65% and a return on equity of 16.13%. The firm had revenue of $36.55 million for the quarter, compared to the consensus estimate of $36.27 million. On average, equities analysts anticipate that Palmer Square Capital BDC Inc. will post 1.97 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 Monday, October 14th. Shareholders of record on Friday, September 27th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 10.33%. The ex-dividend date of this dividend is Friday, September 27th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Dorsey & Whitney Trust CO LLC acquired a new position in shares of Palmer Square Capital BDC in the 1st quarter worth approximately $170,000. Renaissance Technologies LLC acquired a new position in Palmer Square Capital BDC during the 2nd quarter worth $173,000. Marble Harbor Investment Counsel LLC acquired a new position in Palmer Square Capital BDC during the 2nd quarter worth $315,000. Confluence Investment Management LLC lifted its holdings in Palmer Square Capital BDC by 70.5% during the 2nd quarter. Confluence Investment Management LLC now owns 85,240 shares of the company’s stock worth $1,377,000 after buying an additional 35,240 shares in the last quarter. Finally, Capstone Investment Advisors LLC acquired a new position in Palmer Square Capital BDC during the 1st quarter worth $1,032,000. 6.52% of the stock is owned by institutional investors and hedge funds.

Palmer Square Capital BDC Company Profile

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.