Crescent Capital BDC (NASDAQ:CCAP) Hits New 1-Year High After Dividend Announcement

Crescent Capital BDC, Inc. (NASDAQ:CCAPGet Free Report) hit a new 52-week high during trading on Wednesday after the company announced a dividend. The stock traded as high as $18.20 and last traded at $18.02, with a volume of 21314 shares. The stock had previously closed at $18.06.

The newly announced dividend which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.68 annualized dividend and a yield of 9.25%. This is a boost from Crescent Capital BDC’s previous quarterly dividend of $0.41. Crescent Capital BDC’s payout ratio is 58.36%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CCAP shares. Keefe, Bruyette & Woods upped their price objective on shares of Crescent Capital BDC from $18.50 to $19.00 and gave the stock an “outperform” rating in a report on Thursday, May 23rd. Wells Fargo & Company increased their price target on shares of Crescent Capital BDC from $16.50 to $18.00 and gave the stock an “equal weight” rating in a research note on Monday, May 13th. Raymond James lifted their price objective on Crescent Capital BDC from $18.00 to $19.00 and gave the company an “outperform” rating in a research report on Friday, May 10th. Finally, Oppenheimer increased their target price on Crescent Capital BDC from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd.

Read Our Latest Research Report on CCAP

Crescent Capital BDC Stock Performance

The company has a market capitalization of $673.05 million, a P/E ratio of 6.46 and a beta of 0.81. The company’s 50 day moving average is $17.48 and its 200-day moving average is $17.06. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 1.11.

Crescent Capital BDC (NASDAQ:CCAPGet Free Report) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. Crescent Capital BDC had a net margin of 53.32% and a return on equity of 11.99%. The business had revenue of $50.36 million for the quarter, compared to analysts’ expectations of $48.31 million. Equities analysts anticipate that Crescent Capital BDC, Inc. will post 2.34 EPS for the current fiscal year.

Institutional Trading of Crescent Capital BDC

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Mariner LLC grew its stake in shares of Crescent Capital BDC by 0.3% in the third quarter. Mariner LLC now owns 703,016 shares of the company’s stock worth $12,022,000 after acquiring an additional 2,293 shares during the last quarter. Relative Value Partners Group LLC grew its position in Crescent Capital BDC by 2.1% during the 4th quarter. Relative Value Partners Group LLC now owns 383,121 shares of the company’s stock valued at $6,659,000 after purchasing an additional 7,834 shares during the last quarter. Condor Capital Management increased its stake in Crescent Capital BDC by 9.9% during the 1st quarter. Condor Capital Management now owns 224,320 shares of the company’s stock valued at $3,872,000 after purchasing an additional 20,236 shares in the last quarter. Mckinley Capital Management LLC raised its holdings in Crescent Capital BDC by 59.0% in the fourth quarter. Mckinley Capital Management LLC now owns 92,910 shares of the company’s stock worth $1,615,000 after buying an additional 34,489 shares during the last quarter. Finally, Quadrature Capital Ltd lifted its stake in shares of Crescent Capital BDC by 32.6% in the fourth quarter. Quadrature Capital Ltd now owns 81,156 shares of the company’s stock worth $1,410,000 after buying an additional 19,936 shares in the last quarter. Hedge funds and other institutional investors own 49.46% of the company’s stock.

About Crescent Capital BDC

(Get Free Report)

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.

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