Crescent Capital BDC (NASDAQ:CCAP) Downgraded by Wells Fargo & Company

Wells Fargo & Company cut shares of Crescent Capital BDC (NASDAQ:CCAP) from an overweight rating to an equal weight rating in a report issued on Monday morning, Marketbeat Ratings reports. They currently have $16.00 price objective on the stock, down from their previous price objective of $16.50.

Crescent Capital BDC Price Performance

CCAP stock opened at $16.44 on Monday. The company has a market capitalization of $609.08 million, a P/E ratio of 10.67 and a beta of 0.83. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.35 and a current ratio of 1.35. Crescent Capital BDC has a 52-week low of $12.56 and a 52-week high of $17.55. The business has a 50-day simple moving average of $16.48 and a two-hundred day simple moving average of $15.69.

Crescent Capital BDC Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 9.98%. The ex-dividend date of this dividend is Thursday, December 28th. This is a boost from Crescent Capital BDC’s previous quarterly dividend of $0.09. Crescent Capital BDC’s payout ratio is 106.49%.

Institutional Investors Weigh In On Crescent Capital BDC

A number of hedge funds have recently modified their holdings of CCAP. JPMorgan Chase & Co. bought a new stake in shares of Crescent Capital BDC in the 1st quarter worth approximately $185,000. Raymond James & Associates raised its holdings in shares of Crescent Capital BDC by 96.3% in the 1st quarter. Raymond James & Associates now owns 89,250 shares of the company’s stock worth $1,589,000 after purchasing an additional 43,779 shares during the period. Ares Management LLC raised its holdings in shares of Crescent Capital BDC by 54.0% in the 1st quarter. Ares Management LLC now owns 657,838 shares of the company’s stock worth $11,710,000 after purchasing an additional 230,593 shares during the period. UBS Group AG raised its holdings in shares of Crescent Capital BDC by 48.2% in the 1st quarter. UBS Group AG now owns 6,645 shares of the company’s stock worth $118,000 after purchasing an additional 2,160 shares during the period. Finally, Captrust Financial Advisors raised its holdings in shares of Crescent Capital BDC by 797.8% in the 1st quarter. Captrust Financial Advisors now owns 62,726 shares of the company’s stock worth $1,117,000 after purchasing an additional 55,739 shares during the period. Institutional investors own 47.81% of the company’s stock.

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.