Palmer Square Capital BDC (NYSE:PSBD) Receives Neutral Rating from JPMorgan Chase & Co.

Palmer Square Capital BDC (NYSE:PSBD)‘s stock had its “neutral” rating reissued by analysts at JPMorgan Chase & Co. in a research report issued to clients and investors on Wednesday, MarketBeat reports. They presently have a $12.00 target price on the stock, down from their previous target price of $14.00. JPMorgan Chase & Co.‘s price objective points to a potential downside of 1.80% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. UBS Group reaffirmed a “neutral” rating and issued a $14.50 target price on shares of Palmer Square Capital BDC in a research note on Wednesday, July 16th. Wall Street Zen upgraded shares of Palmer Square Capital BDC from a “sell” rating to a “hold” rating in a report on Friday, June 27th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $13.88.

Palmer Square Capital BDC Stock Performance

NYSE PSBD opened at $12.22 on Wednesday. The stock has a market capitalization of $392.63 million, a P/E ratio of 21.82 and a beta of 0.71. Palmer Square Capital BDC has a 52 week low of $11.51 and a 52 week high of $16.32. The stock has a fifty day moving average of $13.62 and a 200-day moving average of $13.67.

Palmer Square Capital BDC (NYSE:PSBD) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.02. The business had revenue of $31.68 million for the quarter, compared to analysts’ expectations of $30.29 million. Palmer Square Capital BDC had a return on equity of 10.91% and a net margin of 13.51%. Equities research analysts forecast that Palmer Square Capital BDC will post 1.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PSBD. Gibson Capital LLC bought a new stake in Palmer Square Capital BDC in the second quarter valued at approximately $174,000. Jane Street Group LLC bought a new position in shares of Palmer Square Capital BDC during the first quarter worth $360,000. Atwood & Palmer Inc. acquired a new position in shares of Palmer Square Capital BDC in the 1st quarter valued at $453,000. Hennion & Walsh Asset Management Inc. grew its holdings in shares of Palmer Square Capital BDC by 91.4% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 160,740 shares of the company’s stock valued at $2,141,000 after buying an additional 76,743 shares during the period. Finally, Bank of America Corp DE increased its position in shares of Palmer Square Capital BDC by 5.0% in the 2nd 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 in the last quarter. Institutional investors 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.