Crescent Capital BDC (NASDAQ:CCAP) Hits New 52-Week High – Still a Buy?

Shares of Crescent Capital BDC, Inc. (NASDAQ:CCAP) reached a new 52-week high on Tuesday . The stock traded as high as $20.19 and last traded at $20.03, with a volume of 8674 shares. The stock had previously closed at $19.95.

Analysts Set New Price Targets

CCAP has been the topic of several recent analyst reports. Keefe, Bruyette & Woods lifted their target price on Crescent Capital BDC from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday, November 25th. Wells Fargo & Company lifted their target price on Crescent Capital BDC from $18.00 to $19.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.33.

Crescent Capital BDC Price Performance

The company has a 50 day simple moving average of $19.48 and a 200-day simple moving average of $18.86. The stock has a market cap of $706.33 million, a price-to-earnings ratio of 7.47 and a beta of 0.81. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.14.

Crescent Capital BDC (NASDAQ:CCAP) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.01). Crescent Capital BDC had a net margin of 47.06% and a return on equity of 12.20%. The firm had revenue of $46.40 million during the quarter, compared to analyst estimates of $47.27 million. Research analysts expect that Crescent Capital BDC, Inc. will post 2.43 EPS for the current year.

Crescent Capital BDC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 8.81%. The ex-dividend date of this dividend is Monday, March 31st. Crescent Capital BDC’s dividend payout ratio is 65.88%.

Institutional Trading of Crescent Capital BDC

A number of hedge funds and other institutional investors have recently modified their holdings of CCAP. Sun Life Financial Inc. increased its position in shares of Crescent Capital BDC by 20.7% in the third quarter. Sun Life Financial Inc. now owns 2,226,308 shares of the company’s stock valued at $41,187,000 after acquiring an additional 382,542 shares during the last quarter. Kovitz Investment Group Partners LLC acquired a new stake in shares of Crescent Capital BDC in the third quarter valued at about $4,878,000. Raymond James Financial Inc. acquired a new stake in shares of Crescent Capital BDC in the fourth quarter valued at about $3,750,000. International Assets Investment Management LLC acquired a new stake in shares of Crescent Capital BDC in the third quarter valued at about $1,899,000. Finally, Franklin Resources Inc. increased its position in shares of Crescent Capital BDC by 35.2% in the third 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. Institutional investors and hedge funds own 49.46% of the company’s stock.

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.