Palmer Square Capital BDC increases its repurchase authorization by $30 million, extending the program until June 2027.
Palmer Square Capital BDC (NYSE:PSBD) expanded its share repurchase program, adding $30 million to its authorization and extending the expiration to June 22, 2027. The move follows prior repurchases totaling $22.2 million under the existing plan.
The company, trading at a forward P/E of 7.63, targets periodic open-market purchases based on market conditions. Management cited shareholder value enhancement and capital allocation discipline as key drivers for the decision.
Bank of America analyst Derek Hewett recently lowered PSBD’s price target to $11 from $12.50 while maintaining a Neutral rating, reflecting broader sector adjustments post-earnings.