Crescent Capital BDC (NASDAQ:CCAP) Sets New 12-Month High Following Dividend Announcement

Crescent Capital BDC, Inc. (NASDAQ:CCAP) shares hit a new 52-week high 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. 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 $0.42 dividend. The ex-dividend date is Tuesday, December 31st. This is an increase 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 payout ratio is currently 65.88%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CCAP. LADENBURG THALM/SH SH started coverage on Crescent Capital BDC in a research report on Monday, September 30th. They issued a “buy” rating and a $20.00 price objective for the company. Bank of America lowered their price target on Crescent Capital BDC from $20.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Keefe, Bruyette & Woods upped their price target on shares of Crescent Capital BDC from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Monday, November 25th. Finally, 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. 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 stock has an average rating of “Moderate Buy” and an average price target of $19.17.

Crescent Capital BDC Stock Up 0.3 %

The firm has a market capitalization of $730.86 million, a PE ratio of 7.73 and a beta of 0.82. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.14. The business has a 50-day moving average price of $18.70 and a 200-day moving average price of $18.62.

Institutional Trading of Crescent Capital BDC

Several institutional investors have recently made changes to their positions in CCAP. Point72 Asset Management L.P. acquired a new position in Crescent Capital BDC in the second quarter valued at about $90,000. XTX Topco Ltd acquired a new position in shares of Crescent Capital BDC in the 2nd quarter worth approximately $195,000. Catalina Capital Group LLC purchased a new position in shares of Crescent Capital BDC during the 2nd quarter worth approximately $220,000. Cubist Systematic Strategies LLC acquired a new stake in Crescent Capital BDC in the 2nd quarter valued at approximately $346,000. Finally, Van ECK Associates Corp raised its position in Crescent Capital BDC by 136.1% in the second quarter. Van ECK Associates Corp now owns 26,521 shares of the company’s stock valued at $498,000 after purchasing an additional 15,288 shares during the period. Hedge funds and other institutional investors 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.