Crescent Capital BDC, Inc. (NASDAQ:CCAP) Receives $19.00 Average PT from Brokerages

Crescent Capital BDC, Inc. (NASDAQ:CCAP) has been assigned a consensus recommendation of “Moderate Buy” from the six ratings firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $19.00.

A number of analysts have weighed in on the stock. LADENBURG THALM/SH SH initiated coverage on shares of Crescent Capital BDC in a research note on Monday, September 30th. They set a “buy” rating and a $20.00 target price on the stock. Bank of America reduced their price objective on shares of Crescent Capital BDC from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Finally, Wells Fargo & Company cut their price objective on Crescent Capital BDC from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 14th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CCAP. Sun Life Financial Inc. boosted its holdings in shares of Crescent Capital BDC by 20.7% during the 3rd quarter. Sun Life Financial Inc. now owns 2,226,308 shares of the company’s stock valued at $41,187,000 after buying an additional 382,542 shares in the last quarter. Pettinga Financial Advisors LLC raised its position in Crescent Capital BDC by 95.8% in the 3rd quarter. Pettinga Financial Advisors LLC now owns 29,017 shares of the company’s stock worth $537,000 after buying an additional 14,200 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in Crescent Capital BDC by 90.3% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 94,182 shares of the company’s stock worth $1,742,000 after purchasing an additional 44,700 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in Crescent Capital BDC during the third quarter valued at $1,899,000. Finally, Cubist Systematic Strategies LLC bought a new position in Crescent Capital BDC in the 2nd quarter worth $346,000. 49.46% of the stock is currently owned by institutional investors.

Crescent Capital BDC Stock Performance

Shares of CCAP opened at $18.39 on Friday. The firm has a fifty day simple moving average of $18.43 and a 200 day simple moving average of $18.31. Crescent Capital BDC has a 12 month low of $15.03 and a 12 month high of $19.63. The stock has a market capitalization of $681.57 million, a price-to-earnings ratio of 6.54 and a beta of 0.81. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.17.

Crescent Capital BDC (NASDAQ:CCAP) last issued its quarterly earnings data on Monday, August 12th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.01. Crescent Capital BDC had a net margin of 51.61% and a return on equity of 12.03%. The firm had revenue of $48.95 million during the quarter, compared to the consensus estimate of $48.05 million. During the same period last year, the business posted $0.56 earnings per share. Research analysts forecast that Crescent Capital BDC will post 2.35 EPS for the current fiscal year.

Crescent Capital BDC Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.68 annualized dividend and a yield of 9.14%. This is a boost from Crescent Capital BDC’s previous quarterly dividend of $0.09. Crescent Capital BDC’s dividend payout ratio is presently 59.79%.

About Crescent Capital BDC

Crescent Capital BDC, Inc is as a business development company private equity / buyouts and loan fund. It specializes in directly investing. It specializes in middle market. The fund seeks to invest in United States.