UBS Group Lowers Palmer Square Capital BDC (NYSE:PSBD) Price Target to $13.00

Palmer Square Capital BDC (NYSE:PSBD) had its price target decreased by UBS Group from $13.50 to $13.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s target price suggests a potential upside of 8.38% from the company’s current price.

Separately, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $12.00 price objective (down from $14.00) on shares of Palmer Square Capital BDC in a research report on Wednesday, October 1st. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Palmer Square Capital BDC presently has an average rating of “Hold” and an average target price of $13.50.

Palmer Square Capital BDC Trading Up 1.1%

PSBD traded up $0.13 during trading on Wednesday, reaching $12.00. 5,180 shares of the company were exchanged, compared to its average volume of 57,074. Palmer Square Capital BDC has a 52 week low of $11.51 and a 52 week high of $16.25. The firm has a 50 day moving average of $12.57 and a 200 day moving average of $13.43. The stock has a market cap of $379.04 million, a P/E ratio of 27.90 and a beta of 0.71.

Palmer Square Capital BDC (NYSE:PSBD) last posted its earnings results on Wednesday, November 5th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. Palmer Square Capital BDC had a return on equity of 10.77% and a net margin of 10.85%.The company had revenue of $31.69 million for the quarter, compared to analysts’ expectations of $30.61 million. As a group, analysts forecast that Palmer Square Capital BDC will post 1.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Palmer Square Capital BDC

Institutional investors have recently bought and sold shares of the stock. Evolution Wealth Management Inc. bought a new position in Palmer Square Capital BDC in the 3rd quarter valued at about $71,000. Gibson Capital LLC bought a new stake in shares of Palmer Square Capital BDC during the 2nd quarter worth about $174,000. Citadel Advisors LLC acquired a new stake in shares of Palmer Square Capital BDC in the 3rd quarter worth approximately $230,000. Prime Capital Investment Advisors LLC acquired a new stake in shares of Palmer Square Capital BDC in the 3rd quarter worth approximately $301,000. Finally, Confluence Investment Management LLC boosted its holdings in shares of Palmer Square Capital BDC by 18.7% in the third quarter. Confluence Investment Management LLC now owns 25,763 shares of the company’s stock valued at $316,000 after acquiring an additional 4,065 shares in the last quarter. Institutional investors and hedge funds own 6.52% of the company’s stock.

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.