UMB Bank n.a. Takes $1 Million Position in Palmer Square Capital BDC Inc. $PSBD

UMB Bank n.a. bought a new stake in Palmer Square Capital BDC Inc. (NYSE:PSBD) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 81,522 shares of the company’s stock, valued at approximately $1,000,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Confluence Investment Management LLC raised its position in shares of Palmer Square Capital BDC by 18.7% during the 3rd quarter. Confluence Investment Management LLC now owns 25,763 shares of the company’s stock worth $316,000 after purchasing an additional 4,065 shares during the last quarter. Evolution Wealth Management Inc. acquired a new stake in shares of Palmer Square Capital BDC during the third quarter valued at $71,000. Gibson Capital LLC purchased a new stake in Palmer Square Capital BDC during the 2nd quarter worth about $174,000. Bank of America Corp DE raised its position in shares of Palmer Square Capital BDC by 5.0% in the second quarter. Bank of America Corp DE now owns 300,575 shares of the company’s stock valued at $4,196,000 after buying an additional 14,220 shares during the last quarter. Finally, Jane Street Group LLC acquired a new position in Palmer Square Capital BDC in the 1st quarter valued at $360,000. 6.52% of the stock is owned by institutional investors and hedge funds.

Palmer Square Capital BDC Price Performance

PSBD opened at $11.89 on Tuesday. The stock has a market capitalization of $374.30 million, a PE ratio of 27.65 and a beta of 0.68. Palmer Square Capital BDC Inc. has a 12-month low of $11.51 and a 12-month high of $16.05. The firm’s fifty day moving average price is $12.07 and its 200 day moving average price is $12.74.

Palmer Square Capital BDC (NYSE:PSBD) last issued 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 net margin of 10.85% and a return on equity of 10.77%. The business had revenue of $31.69 million for the quarter, compared to analyst estimates of $30.61 million. On average, equities research analysts forecast that Palmer Square Capital BDC Inc. will post 1.96 earnings per share for the current fiscal year.

Palmer Square Capital BDC Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 14th. Stockholders of record on Monday, December 29th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 12.1%. The ex-dividend date of this dividend was Monday, December 29th. Palmer Square Capital BDC’s payout ratio is 334.88%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PSBD shares. Royal Bank Of Canada downgraded shares of Palmer Square Capital BDC from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, November 26th. UBS Group reduced their price objective on Palmer Square Capital BDC from $13.50 to $13.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 19th. Four analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $13.00.

About Palmer Square Capital BDC

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.