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 report released on Tuesday. The firm issued a neutral rating and a $18.00 price target on the investment management company’s stock.
Several other research analysts also recently issued reports on GBDC. TheStreet raised Golub Capital BDC from a hold rating to a buy rating in a research note on Wednesday, August 10th. Zacks Investment Research downgraded Golub Capital BDC from a buy rating to a hold rating in a research note on Monday, July 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $17.88.
Shares of Golub Capital BDC (NASDAQ:GBDC) opened at 18.74 on Tuesday. The stock has a 50 day moving average of $18.80 and a 200-day moving average of $17.87. Golub Capital BDC has a 12-month low of $14.80 and a 12-month high of $19.76.
Golub Capital BDC (NASDAQ:GBDC) last released its quarterly earnings data on Wednesday, August 3rd. The investment management company reported $0.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.03. Golub Capital BDC had a return on equity of 7.75% and a net margin of 57.18%. The company earned $32.10 million during the quarter, compared to the consensus estimate of $33.01 million. During the same quarter in the prior year, the firm posted $0.36 earnings per share. The firm’s revenue was up 5.6% compared to the same quarter last year. Equities research analysts expect that Golub Capital BDC will post $1.28 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Monday, September 5th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 6.83%. The ex-dividend date is Wednesday, August 31st. Golub Capital BDC’s payout ratio is presently 90.78%.
In related news, Director John Thomas Baily sold 6,469 shares of the company’s stock in a transaction that occurred on Saturday, July 30th. The stock was sold at an average price of $17.09, for a total value of $110,555.21. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.50% of the stock is owned by corporate insiders.
Several institutional investors have recently bought and sold shares of GBDC. Lebenthal Asset Management LLC acquired a new position in Golub Capital BDC during the second quarter worth about $181,000. Johnson Investment Counsel Inc. acquired a new position in Golub Capital BDC during the second quarter worth about $210,000. California Public Employees Retirement System boosted its position in Golub Capital BDC by 15.3% in the second quarter. California Public Employees Retirement System now owns 12,800 shares of the investment management company’s stock worth $231,000 after buying an additional 1,700 shares during the last quarter. Sei Investments Co. acquired a new position in Golub Capital BDC during the second quarter worth about $242,000. Finally, Eagle Global Advisors LLC acquired a new position in Golub Capital BDC during the second quarter worth about $251,000. 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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