Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Crescent Capital BDC (NASDAQ:CCAP) Stock

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

Several other analysts have also recently issued reports on CCAP. LADENBURG THALM/SH SH initiated coverage on Crescent Capital BDC in a research report on Monday, September 30th. They set a “buy” rating and a $20.00 target price on the stock. Bank of America dropped their price objective on Crescent Capital BDC from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Finally, Wells Fargo & Company reduced their target price on shares of Crescent Capital BDC from $19.00 to $18.00 and set an “equal weight” rating for the company in a report on Wednesday, August 14th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.17.

Crescent Capital BDC Price Performance

Shares of CCAP opened at $19.18 on Monday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.26 and a current ratio of 1.26. The company has a 50 day moving average price of $18.55 and a 200-day moving average price of $18.50. Crescent Capital BDC has a fifty-two week low of $15.91 and a fifty-two week high of $19.63. The stock has a market capitalization of $710.81 million, a PE ratio of 7.52 and a beta of 0.81.

Crescent Capital BDC Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.42 dividend. This is a boost from Crescent Capital BDC’s previous quarterly dividend of $0.07. The ex-dividend date is Tuesday, December 31st. This represents a $1.68 dividend on an annualized basis and a dividend yield of 8.76%. Crescent Capital BDC’s dividend payout ratio (DPR) is presently 65.88%.

Institutional Inflows and Outflows

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