Crescent Capital BDC (NASDAQ:CCAP) Hits New 52-Week High After Dividend Announcement

Crescent Capital BDC, Inc. (NASDAQ:CCAP)’s share price hit a new 52-week high during trading on Monday after the company announced a dividend. The stock traded as high as $19.66 and last traded at $19.65, with a volume of 70531 shares trading hands. The stock had previously closed at $19.47.

The newly announced dividend which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.42 per share. The ex-dividend date is Tuesday, December 31st. This is a positive change from Crescent Capital BDC’s previous quarterly dividend of $0.07. This represents a $1.68 dividend on an annualized basis and a yield of 8.52%. Crescent Capital BDC’s dividend payout ratio is 65.88%.

Analyst Ratings Changes

CCAP has been the subject of several research reports. Wells Fargo & Company dropped 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. Keefe, Bruyette & Woods upped their price target on Crescent Capital BDC from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday, November 25th. LADENBURG THALM/SH SH initiated coverage on Crescent Capital BDC in a research report on Monday, September 30th. They issued a “buy” rating and a $20.00 price target on the stock. Finally, Bank of America lowered their price objective on Crescent Capital BDC from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $19.17.

Crescent Capital BDC Trading Up 0.3 %

The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.14. The firm has a market cap of $730.86 million, a PE ratio of 7.73 and a beta of 0.82. The business has a fifty day moving average price of $18.70 and a 200 day moving average price of $18.62.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Sun Life Financial Inc. boosted its position in shares of Crescent Capital BDC by 20.7% in the 3rd quarter. Sun Life Financial Inc. now owns 2,226,308 shares of the company’s stock valued at $41,187,000 after purchasing an additional 382,542 shares during the period. Millennium Management LLC boosted its holdings 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 valued at $5,035,000 after acquiring an additional 64,902 shares during the period. Kovitz Investment Group Partners LLC purchased a new position in shares of Crescent Capital BDC during the third quarter worth approximately $4,878,000. Franklin Resources Inc. grew its position in shares of Crescent Capital BDC by 35.2% during the third 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 holdings in shares of 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 during the period. 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.