Keefe, Bruyette & Woods Boosts Crescent Capital BDC (NASDAQ:CCAP) Price Target to $20.00

Crescent Capital BDC (NASDAQ:CCAP) had its price target boosted by Keefe, Bruyette & Woods from $19.00 to $20.00 in a research report sent to investors on Monday,Benzinga reports. They currently have an outperform rating on the stock.

Several other brokerages have also recently commented on CCAP. LADENBURG THALM/SH SH assumed coverage on shares of Crescent Capital BDC in a research report on Monday, September 30th. They set a “buy” rating and a $20.00 price target for the company. Bank of America lowered their target price on shares of Crescent Capital BDC from $20.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Finally, Wells Fargo & Company dropped their target price on shares of Crescent Capital BDC from $19.00 to $18.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 14th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Crescent Capital BDC has a consensus rating of “Moderate Buy” and a consensus price target of $19.17.

Crescent Capital BDC Price Performance

Shares of CCAP stock opened at $19.29 on Monday. The firm has a market cap of $714.93 million, a price-to-earnings ratio of 7.56 and a beta of 0.81. Crescent Capital BDC has a 12 month low of $15.91 and a 12 month high of $19.63. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.14. The stock has a 50-day moving average price of $18.57 and a 200 day moving average price of $18.52.

Crescent Capital BDC Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 8.71%. The ex-dividend date is Tuesday, December 31st. This is an increase from Crescent Capital BDC’s previous quarterly dividend of $0.07. Crescent Capital BDC’s dividend payout ratio is presently 65.88%.

Hedge Funds Weigh In On Crescent Capital BDC

Several institutional investors and hedge funds have recently made changes to their positions in the company. Point72 Asset Management L.P. acquired a new stake in Crescent Capital BDC during the 2nd quarter worth $90,000. XTX Topco Ltd acquired a new stake in shares of Crescent Capital BDC during the second quarter worth about $195,000. Catalina Capital Group LLC acquired a new stake in shares of Crescent Capital BDC during the second quarter worth about $220,000. Cubist Systematic Strategies LLC bought a new position in shares of Crescent Capital BDC during the 2nd quarter valued at about $346,000. Finally, Van ECK Associates Corp grew its position in shares of Crescent Capital BDC by 136.1% in the 2nd quarter. Van ECK Associates Corp now owns 26,521 shares of the company’s stock valued at $498,000 after purchasing an additional 15,288 shares during the period. Institutional investors and hedge funds own 49.46% 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.