Crescent Capital BDC (NASDAQ:CCAP) Cut to “Market Perform” at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods downgraded shares of Crescent Capital BDC (NASDAQ:CCAP) from an outperform rating to a market perform rating in a research report released on Friday, MarketBeat Ratings reports. They currently have $17.00 target price on the stock, down from their prior target price of $18.50.

Separately, Wells Fargo & Company cut their price objective on Crescent Capital BDC from $18.00 to $16.00 and set an “equal weight” rating on the stock in a report on Monday, April 28th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $17.60.

Crescent Capital BDC Trading Down 3.3%

Shares of CCAP stock opened at $15.42 on Friday. Crescent Capital BDC has a 1-year low of $13.54 and a 1-year high of $20.19. The firm has a market cap of $571.47 million, a PE ratio of 7.75 and a beta of 0.63. The company has a 50-day moving average of $16.19 and a two-hundred day moving average of $18.07. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.32 and a quick ratio of 1.26.

Crescent Capital BDC (NASDAQ:CCAP) last posted its quarterly earnings data on Wednesday, May 14th. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.07). The company had revenue of $42.13 million for the quarter, compared to analysts’ expectations of $45.08 million. Crescent Capital BDC had a return on equity of 11.90% and a net margin of 37.32%. On average, analysts predict that Crescent Capital BDC will post 2.09 EPS for the current year.

Crescent Capital BDC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 10.89%. The ex-dividend date of this dividend is Monday, June 30th. Crescent Capital BDC’s dividend payout ratio is currently 84.42%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ieq Capital LLC increased its holdings in Crescent Capital BDC by 2.6% during the 4th quarter. Ieq Capital LLC now owns 22,725 shares of the company’s stock worth $437,000 after purchasing an additional 584 shares during the period. HighTower Advisors LLC grew its position in shares of Crescent Capital BDC by 0.5% during the first quarter. HighTower Advisors LLC now owns 137,366 shares of the company’s stock worth $2,352,000 after buying an additional 702 shares in the last quarter. Denali Advisors LLC increased its stake in shares of Crescent Capital BDC by 0.5% during the fourth quarter. Denali Advisors LLC now owns 183,783 shares of the company’s stock worth $3,532,000 after buying an additional 855 shares during the period. Van ECK Associates Corp raised its holdings in Crescent Capital BDC by 2.3% in the fourth quarter. Van ECK Associates Corp now owns 45,562 shares of the company’s stock valued at $876,000 after acquiring an additional 1,006 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in Crescent Capital BDC by 0.5% in the fourth quarter. Wells Fargo & Company MN now owns 253,182 shares of the company’s stock worth $4,866,000 after acquiring an additional 1,210 shares during the last quarter. 49.46% of the stock is currently owned by hedge funds and other institutional investors.

Crescent Capital BDC Company Profile

Crescent Capital BDC, Inc is as a business development company private equity / buyouts and loan fund. It specializes in directly investing. It specializes in middle market. The fund seeks to invest in United States.