Crescent Capital BDC (NASDAQ:CCAP) Price Target Lowered to $19.00 at Bank of America

Crescent Capital BDC (NASDAQ:CCAP) had its target price cut by Bank of America from $20.00 to $19.00 in a report published on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts also recently issued reports about the stock. Keefe, Bruyette & Woods increased their price objective on shares of Crescent Capital BDC from $18.50 to $19.00 and gave the stock an outperform rating in a research note on Thursday, May 23rd. Wells Fargo & Company lowered their price objective on shares of Crescent Capital BDC from $19.00 to $18.00 and set an equal weight rating for the company in a research note on Wednesday, August 14th. Finally, Raymond James lifted their price target on shares of Crescent Capital BDC from $18.00 to $19.00 and gave the company an outperform rating in a research report on Friday, May 10th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Crescent Capital BDC presently has an average rating of Moderate Buy and a consensus target price of $18.80.

Crescent Capital BDC Trading Up 0.8 %

Shares of NASDAQ CCAP opened at $18.16 on Thursday. Crescent Capital BDC has a 1-year low of $15.03 and a 1-year high of $19.63. The company has a market cap of $673.05 million, a PE ratio of 6.46 and a beta of 0.81. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 1.11. The company has a 50-day moving average of $18.71 and a two-hundred day moving average of $17.76.

Crescent Capital BDC (NASDAQ:CCAP) last announced its earnings results on Monday, August 12th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.58 by $0.01. Crescent Capital BDC had a net margin of 53.32% and a return on equity of 11.99%. The business had revenue of $48.95 million during the quarter, compared to analysts’ expectations of $48.05 million. During the same quarter in the prior year, the company posted $0.56 earnings per share. As a group, equities analysts expect that Crescent Capital BDC will post 2.34 earnings per share for the current fiscal year.

Crescent Capital BDC Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 9.25%. The ex-dividend date of this dividend is Monday, September 30th. This is a positive change from Crescent Capital BDC’s previous quarterly dividend of $0.09. Crescent Capital BDC’s payout ratio is currently 59.79%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Cape Investment Advisory Inc. bought a new position in Crescent Capital BDC in the 4th quarter valued at $63,000. Tucker Asset Management LLC purchased a new position in shares of Crescent Capital BDC in the fourth quarter worth about $167,000. XTX Topco Ltd acquired a new stake in Crescent Capital BDC during the second quarter worth about $195,000. Alpine Global Management LLC acquired a new stake in Crescent Capital BDC during the first quarter worth about $217,000. Finally, Catalina Capital Group LLC acquired a new stake in Crescent Capital BDC during the second quarter worth about $220,000. 49.46% of the stock is currently owned by institutional investors.

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.