19,500 Shares in Palmer Square Capital BDC Inc. (NYSE:PSBD) Acquired by Marble Harbor Investment Counsel LLC

Marble Harbor Investment Counsel LLC purchased a new position in shares of Palmer Square Capital BDC Inc. (NYSE:PSBD) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 19,500 shares of the company’s stock, valued at approximately $315,000. Marble Harbor Investment Counsel LLC owned approximately 0.06% of Palmer Square Capital BDC at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dorsey & Whitney Trust CO LLC purchased a new position in Palmer Square Capital BDC during the 1st quarter worth approximately $170,000. Confluence Investment Management LLC increased its stake in Palmer Square Capital BDC by 70.5% during the second quarter. Confluence Investment Management LLC now owns 85,240 shares of the company’s stock worth $1,377,000 after purchasing an additional 35,240 shares during the period. Capstone Investment Advisors LLC acquired a new stake in Palmer Square Capital BDC during the 1st quarter worth approximately $1,032,000. Finally, Apollo Management Holdings L.P. purchased a new position in Palmer Square Capital BDC in the first quarter valued at $9,713,000. 6.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Royal Bank of Canada reissued 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, the stock has an average rating of “Moderate Buy” and an average target price of $16.93.

Palmer Square Capital BDC Stock Up 0.1 %

PSBD opened at $16.35 on Monday. Palmer Square Capital BDC Inc. has a 12-month low of $15.27 and a 12-month high of $17.12. The firm’s fifty day moving average price is $16.33 and its 200 day moving average price is $16.40.

Palmer Square Capital BDC (NYSE:PSBD) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03). Palmer Square Capital BDC had a return on equity of 16.13% and a net margin of 64.65%. The company had revenue of $36.55 million for the quarter, compared to the consensus estimate of $36.27 million. As a group, research analysts predict that Palmer Square Capital BDC Inc. will post 1.97 EPS for the current year.

Palmer Square Capital BDC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 14th. Shareholders of record on Friday, September 27th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 10.28%. The ex-dividend date is Friday, September 27th.

Palmer Square Capital BDC 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.