Crescent Capital BDC (NASDAQ:CCAP) Price Target Cut to $18.00 by Analysts at Wells Fargo & Company

Crescent Capital BDC (NASDAQ:CCAP) had its price target lowered by Wells Fargo & Company from $19.00 to $18.00 in a research note released on Wednesday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Other equities analysts have also issued reports about the company. Raymond James lifted their price objective on Crescent Capital BDC from $18.00 to $19.00 and gave the company an outperform rating in a research note on Friday, May 10th. Keefe, Bruyette & Woods lifted their price objective on Crescent Capital BDC from $18.50 to $19.00 and gave the company an outperform rating in a research note on Thursday, May 23rd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Crescent Capital BDC has a consensus rating of Moderate Buy and an average target price of $18.80.

Crescent Capital BDC Trading Up 0.8 %

CCAP stock opened at $18.16 on Wednesday. Crescent Capital BDC has a 52 week low of $15.03 and a 52 week high of $19.63. The company has a market cap of $673.05 million, a price-to-earnings ratio of 6.46 and a beta of 0.81. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 1.11. The business has a fifty day simple moving average of $18.71 and a 200-day simple moving average of $17.75.

Crescent Capital BDC (NASDAQ:CCAP) last released its quarterly earnings data on Monday, August 12th. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.01. The company had revenue of $48.95 million for the quarter, compared to the consensus estimate of $48.05 million. Crescent Capital BDC had a return on equity of 11.99% and a net margin of 53.32%. During the same period last year, the business posted $0.56 EPS. On average, equities research analysts expect that Crescent Capital BDC will post 2.34 EPS for the current year.

Crescent Capital BDC Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.42 per share. The ex-dividend date is Monday, September 30th. This is a positive change from Crescent Capital BDC’s previous quarterly dividend of $0.09. This represents a $1.68 annualized dividend and a yield of 9.25%. Crescent Capital BDC’s payout ratio is 59.79%.

Hedge Funds Weigh In On Crescent Capital BDC

Several hedge funds and other institutional investors have recently bought and sold shares of CCAP. Cape Investment Advisory Inc. acquired a new position in Crescent Capital BDC during the 4th quarter worth approximately $63,000. Tucker Asset Management LLC purchased a new stake in Crescent Capital BDC during the 4th quarter worth approximately $167,000. XTX Topco Ltd purchased a new stake in Crescent Capital BDC during the 2nd quarter worth approximately $195,000. Alpine Global Management LLC purchased a new stake in Crescent Capital BDC during the 1st quarter worth approximately $217,000. Finally, Catalina Capital Group LLC purchased a new stake in Crescent Capital BDC during the 2nd quarter worth approximately $220,000. 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.