Crescent Capital BDC (NASDAQ:CCAP) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Crescent Capital BDC (NASDAQ:CCAP) had its price target lifted by Wells Fargo & Company from $18.00 to $19.00 in a report released on Wednesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Separately, Keefe, Bruyette & Woods upped their target price on Crescent Capital BDC from $19.00 to $20.00 and gave the company an “outperform” rating in a research report on Monday, November 25th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $19.33.

Crescent Capital BDC Stock Performance

CCAP stock opened at $19.60 on Wednesday. The firm has a 50-day simple moving average of $19.39 and a two-hundred day simple moving average of $18.77. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.26 and a current ratio of 1.26. Crescent Capital BDC has a one year low of $15.91 and a one year high of $20.03. The firm has a market cap of $726.38 million, a price-to-earnings ratio of 7.69 and a beta of 0.81.

Crescent Capital BDC (NASDAQ:CCAP) last announced its earnings results on Tuesday, November 12th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.07. The company had revenue of $51.63 million during the quarter, compared to the consensus estimate of $48.76 million. Crescent Capital BDC had a net margin of 47.06% and a return on equity of 12.20%. During the same period last year, the firm earned $0.59 earnings per share. On average, equities analysts forecast that Crescent Capital BDC will post 2.43 EPS for the current fiscal year.

Crescent Capital BDC Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.68 dividend on an annualized basis and a yield of 8.57%. This is a boost from Crescent Capital BDC’s previous quarterly dividend of $0.07. Crescent Capital BDC’s payout ratio is currently 65.88%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Sun Life Financial Inc. lifted its holdings in shares of Crescent Capital BDC by 20.7% during the third quarter. Sun Life Financial Inc. now owns 2,226,308 shares of the company’s stock worth $41,187,000 after purchasing an additional 382,542 shares during the period. Kovitz Investment Group Partners LLC acquired a new stake in Crescent Capital BDC during the 3rd quarter valued at approximately $4,878,000. International Assets Investment Management LLC acquired a new stake in Crescent Capital BDC during the 3rd quarter valued at approximately $1,899,000. Franklin Resources Inc. boosted its holdings in shares of Crescent Capital BDC by 35.2% in the 3rd quarter. Franklin Resources Inc. now owns 256,279 shares of the company’s stock valued at $4,726,000 after acquiring an additional 66,713 shares during the last quarter. Finally, Millennium Management LLC increased its stake in shares of Crescent Capital BDC by 31.9% in the second quarter. Millennium Management LLC now owns 268,097 shares of the company’s stock worth $5,035,000 after acquiring an additional 64,902 shares during the period. 49.46% of the stock is owned by institutional investors and hedge funds.

About Crescent Capital BDC

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.