Palmer Square Capital BDC (PSBD) to Release Earnings on Wednesday

Palmer Square Capital BDC (NYSE:PSBD) is expected to post its quarterly earnings results before the market opens on Wednesday, May 7th. Analysts expect the company to announce earnings of $0.44 per share and revenue of $32.55 million for the quarter.

Palmer Square Capital BDC Trading Down 2.2 %

Shares of NYSE PSBD opened at $12.87 on Tuesday. The business has a 50-day moving average of $13.80 and a 200-day moving average of $15.07. The firm has a market capitalization of $419.55 million, a price-to-earnings ratio of 6.70 and a beta of 0.63. Palmer Square Capital BDC has a 12 month low of $11.89 and a 12 month high of $16.85.

Palmer Square Capital BDC Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Friday, March 28th were paid a $0.36 dividend. The ex-dividend date was Friday, March 28th. This represents a $1.44 dividend on an annualized basis and a yield of 11.19%. Palmer Square Capital BDC’s dividend payout ratio is presently 97.30%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Palmer Square Capital BDC from $16.00 to $13.50 and set an “overweight” rating for the company in a report on Thursday, April 24th. UBS Group cut their price objective on Palmer Square Capital BDC from $16.50 to $14.00 and set a “neutral” rating for the company in a report on Thursday, April 17th.

Insider Activity at Palmer Square Capital BDC

In related news, President Matthew L. Bloomfield acquired 4,000 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was purchased at an average price of $15.48 per share, with a total value of $61,920.00. Following the completion of the purchase, the president now owns 41,478 shares in the company, valued at $642,079.44. This trade represents a 10.67 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.96% of the stock is owned by insiders.

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.