Crescent Capital BDC (NASDAQ:CCAP) Sees Large Volume Increase Following Dividend Announcement

Shares of Crescent Capital BDC, Inc. (NASDAQ:CCAP) saw unusually-high trading volume on Thursday after the company announced a dividend. Approximately 167,409 shares changed hands during trading, an increase of 90% from the previous session’s volume of 88,297 shares.The stock last traded at $19.15 and had previously closed at $20.00.

The newly announced dividend which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a $0.05 dividend. The ex-dividend date is Friday, February 28th. Crescent Capital BDC’s dividend payout ratio is currently 84.42%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CCAP shares. Keefe, Bruyette & Woods upped their price target 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. Wells Fargo & Company lowered their price target on Crescent Capital BDC from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Friday. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.17.

Crescent Capital BDC Stock Performance

The firm has a market cap of $682.46 million, a P/E ratio of 9.25 and a beta of 0.81. The company has a quick ratio of 1.26, a current ratio of 1.32 and a debt-to-equity ratio of 1.18. The firm has a fifty day moving average of $19.43 and a 200-day moving average of $18.87.

Crescent Capital BDC (NASDAQ:CCAP) last announced its earnings results on Wednesday, February 19th. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). Crescent Capital BDC had a net margin of 37.32% and a return on equity of 11.90%. The firm had revenue of $46.40 million during the quarter, compared to analyst estimates of $47.27 million. Research analysts predict that Crescent Capital BDC, Inc. will post 2.09 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CCAP. Montag A & Associates Inc. bought a new position in shares of Crescent Capital BDC during the 4th quarter worth approximately $35,000. C M Bidwell & Associates Ltd. bought a new position in shares of Crescent Capital BDC during the 4th quarter worth approximately $39,000. Aquatic Capital Management LLC bought a new position in shares of Crescent Capital BDC during the 4th quarter worth approximately $129,000. Generation Capital Management LLC bought a new position in shares of Crescent Capital BDC during the 4th quarter worth approximately $192,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Crescent Capital BDC in the 4th quarter valued at $218,000. 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.