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

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

CCAP has been the subject of a number of other research reports. LADENBURG THALM/SH SH started coverage on shares of Crescent Capital BDC in a research note on Monday, September 30th. They issued a “buy” rating and a $20.00 price objective for the company. Wells Fargo & Company cut their price target 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, Bank of America lowered their price objective on Crescent Capital BDC from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. 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, Crescent Capital BDC has an average rating of “Moderate Buy” and an average price target of $19.17.

Crescent Capital BDC Stock Performance

Shares of NASDAQ CCAP opened at $19.29 on Monday. The firm has a market capitalization of $714.93 million, a price-to-earnings ratio of 7.56 and a beta of 0.81. Crescent Capital BDC has a one year low of $15.91 and a one year high of $19.63. The business has a fifty day simple moving average of $18.57 and a 200 day simple moving average of $18.52. 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 Increases Dividend

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

Institutional Investors Weigh In On Crescent Capital BDC

A number of hedge funds and other institutional investors have recently bought and sold shares of CCAP. Sun Life Financial Inc. boosted its stake in 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 worth $41,187,000 after purchasing an additional 382,542 shares in the last quarter. Millennium Management LLC lifted its position in Crescent Capital BDC by 31.9% during the 2nd quarter. Millennium Management LLC now owns 268,097 shares of the company’s stock worth $5,035,000 after buying an additional 64,902 shares in the last quarter. Kovitz Investment Group Partners LLC acquired a new position in Crescent Capital BDC during the 3rd quarter worth about $4,878,000. Franklin Resources Inc. grew its holdings in Crescent Capital BDC by 35.2% during the 3rd quarter. Franklin Resources Inc. now owns 256,279 shares of the company’s stock worth $4,726,000 after acquiring an additional 66,713 shares during the last quarter. Finally, Condor Capital Management increased its position in Crescent Capital BDC by 12.4% in the 2nd quarter. Condor Capital Management now owns 252,121 shares of the company’s stock valued at $4,735,000 after acquiring an additional 27,801 shares in the last quarter. 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.