Golub Capital BDC Inc. (GBDC) Earns Neutral Rating from Analysts at Janney Montgomery Scott
Janney Montgomery Scott initiated coverage on shares of Golub Capital BDC Inc. (NASDAQ:GBDC) in a research note published on Tuesday morning. The firm issued a neutral rating and a $18.00 target price on the investment management company’s stock.
Other research analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of Golub Capital BDC from a buy rating to a hold rating in a research note on Monday, July 11th. TheStreet raised shares of Golub Capital BDC from a hold rating to a buy rating in a research note on Wednesday, August 10th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The company has an average rating of Hold and an average target price of $17.88.
Golub Capital BDC (NASDAQ:GBDC) opened at 18.74 on Tuesday. The firm has a 50-day moving average of $18.80 and a 200 day moving average of $17.87. Golub Capital BDC has a 1-year low of $14.80 and a 1-year high of $19.76.
Golub Capital BDC (NASDAQ:GBDC) last issued its earnings results on Wednesday, August 3rd. The investment management company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.03. The company had revenue of $32.10 million for the quarter, compared to analyst estimates of $33.01 million. Golub Capital BDC had a net margin of 57.18% and a return on equity of 7.75%. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.36 EPS. Equities research analysts expect that Golub Capital BDC will post $1.28 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Monday, September 5th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Wednesday, August 31st. This represents a $1.28 annualized dividend and a yield of 6.83%. Golub Capital BDC’s dividend payout ratio (DPR) is currently 90.78%.
In other Golub Capital BDC news, Director John Thomas Baily sold 6,469 shares of the firm’s stock in a transaction that occurred on Saturday, July 30th. The shares were sold at an average price of $17.09, for a total transaction of $110,555.21. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 2.50% of the company’s stock.
A number of hedge funds have recently made changes to their positions in GBDC. Emerald Acquisition Ltd. bought a new stake in shares of Golub Capital BDC during the second quarter valued at approximately $574,000. Front Barnett Associates LLC increased its stake in Golub Capital BDC by 1.8% in the second quarter. Front Barnett Associates LLC now owns 17,155 shares of the investment management company’s stock worth $310,000 after buying an additional 300 shares during the period. Pekin Singer Strauss Asset Management IL increased its stake in Golub Capital BDC by 15.4% in the second quarter. Pekin Singer Strauss Asset Management IL now owns 20,595 shares of the investment management company’s stock worth $372,000 after buying an additional 2,751 shares during the period. State of New Jersey Common Pension Fund D increased its stake in Golub Capital BDC by 8.8% in the second quarter. State of New Jersey Common Pension Fund D now owns 496,310 shares of the investment management company’s stock worth $8,968,000 after buying an additional 40,000 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Golub Capital BDC by 15,497.6% in the second quarter. Bank of New York Mellon Corp now owns 3,320,109 shares of the investment management company’s stock worth $59,994,000 after buying an additional 3,298,823 shares during the period. Hedge funds and other institutional investors own 42.47% of the company’s stock.
Golub Capital BDC Company Profile
Golub Capital BDC Inc is an externally managed, closed-end, non-diversified management investment company. The Company’s investment objective is to generate current income and capital appreciation by investing primarily in senior secured, one stop, second lien and subordinated loans of, and warrants and minority equity securities in, United States middle market companies.
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