Gibson Capital LLC Purchases New Holdings in Palmer Square Capital BDC Inc. $PSBD

Gibson Capital LLC purchased a new stake in shares of Palmer Square Capital BDC Inc. (NYSE:PSBD) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 12,490 shares of the company’s stock, valued at approximately $174,000.

Several other hedge funds also 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 valued at about $360,000. Arlington Partners LLC grew its holdings in Palmer Square Capital BDC by 11.1% during the 1st quarter. Arlington Partners LLC now owns 333,765 shares of the company’s stock valued at $4,446,000 after purchasing an additional 33,276 shares during the last quarter. Sunesis Advisors LLC bought a new position in Palmer Square Capital BDC during the 1st quarter valued at about $6,287,000. Finally, 1248 Management LLC grew its holdings in Palmer Square Capital BDC by 23.2% during the 1st quarter. 1248 Management LLC now owns 2,676,350 shares of the company’s stock valued at $36,693,000 after purchasing an additional 503,908 shares during the last quarter. 6.52% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on PSBD. UBS Group reiterated a “neutral” rating and set a $14.50 price target on shares of Palmer Square Capital BDC in a report on Wednesday, July 16th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $12.00 price target (down from $14.00) on shares of Palmer Square Capital BDC in a report on Wednesday, October 1st. Finally, Wall Street Zen upgraded shares of Palmer Square Capital BDC from a “sell” rating to a “hold” rating in a research note on Friday, June 27th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $13.88.

Palmer Square Capital BDC Stock Performance

Shares of PSBD opened at $12.13 on Friday. The company has a 50 day moving average price of $13.47 and a 200-day moving average price of $13.57. Palmer Square Capital BDC Inc. has a fifty-two week low of $11.51 and a fifty-two week high of $16.32. The stock has a market capitalization of $389.74 million, a PE ratio of 21.66 and a beta of 0.71.

Palmer Square Capital BDC (NYSE:PSBD) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.02. Palmer Square Capital BDC had a net margin of 13.51% and a return on equity of 10.91%. The firm had revenue of $31.68 million during the quarter, compared to analysts’ expectations of $30.29 million. Equities research analysts forecast that Palmer Square Capital BDC Inc. will post 1.96 EPS for the current year.

Palmer Square Capital BDC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 14th. Stockholders of record on Friday, September 26th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 11.9%. The ex-dividend date of this dividend is Friday, September 26th. Palmer Square Capital BDC’s dividend payout ratio is presently 257.14%.

About Palmer Square Capital BDC

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.