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

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

Palmer Square Capital BDC Stock Performance

PSBD traded down $0.21 during mid-day trading on Friday, reaching $10.44. 130,340 shares of the stock were exchanged, compared to its average volume of 83,560. Palmer Square Capital BDC has a 1 year low of $10.10 and a 1 year high of $15.64. The stock has a market capitalization of $328.64 million, a PE ratio of 24.28 and a beta of 0.68. The company has a 50 day moving average price of $11.73 and a two-hundred day moving average price of $12.43.

Palmer Square Capital BDC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Friday, March 27th will be paid a dividend of $0.36 per share. The ex-dividend date is Friday, March 27th. This represents a $1.44 annualized dividend and a yield of 13.8%. Palmer Square Capital BDC’s dividend payout ratio (DPR) is 334.88%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Citadel Advisors LLC purchased a new stake in shares of Palmer Square Capital BDC during the 3rd quarter worth approximately $230,000. XTX Topco Ltd purchased a new position in Palmer Square Capital BDC in the fourth quarter valued at approximately $351,000. Jane Street Group LLC bought a new position in Palmer Square Capital BDC during the first quarter valued at $360,000. Trexquant Investment LP grew its holdings in Palmer Square Capital BDC by 17.6% during the fourth quarter. Trexquant Investment LP now owns 50,118 shares of the company’s stock valued at $611,000 after purchasing an additional 7,496 shares during the period. Finally, Two Sigma Investments LP increased its position in 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 worth $1,614,000 after buying an additional 77,393 shares during the last quarter. 6.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on PSBD shares. UBS Group reduced their price objective 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 downgraded shares of Palmer Square Capital BDC from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, November 26th. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target 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.