Goldman Sachs BDC (NYSE:GSBD) Stock Gets Price Target Trim from Truist Financial

Goldman Sachs BDC (NYSE:GSBD) had its target price cut by Truist Financial from $10.00 to $9.00 in a research note released on Tuesday morning,Benzinga reports. They currently have a hold rating on the financial services provider’s stock.

Several other equities analysts also recently commented on the stock. Wall Street Zen upgraded shares of Goldman Sachs BDC from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Zacks Research upgraded shares of Goldman Sachs BDC from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, September 29th. Finally, Weiss Ratings downgraded shares of Goldman Sachs BDC from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, November 4th. Three analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Strong Sell” and an average target price of $8.50.

Goldman Sachs BDC Stock Performance

GSBD opened at $8.30 on Tuesday. The company has a quick ratio of 0.69, a current ratio of 0.73 and a debt-to-equity ratio of 1.25. Goldman Sachs BDC has a 12-month low of $8.30 and a 12-month high of $10.38. The business has a 50 day moving average of $9.10 and a 200-day moving average of $9.23. The stock has a market cap of $922.27 million, a price-to-earnings ratio of 31.94 and a beta of 0.62.

Goldman Sachs BDC (NYSE:GSBD) last posted its quarterly earnings results on Thursday, November 5th. The financial services provider reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Goldman Sachs BDC had a net margin of 9.21% and a return on equity of 10.56%. The business had revenue of $74.99 million during the quarter, compared to the consensus estimate of $80.13 million. On average, equities research analysts expect that Goldman Sachs BDC will post 1.24 earnings per share for the current year.

Goldman Sachs BDC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 27th. Shareholders of record on Thursday, December 31st will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 15.4%. The ex-dividend date of this dividend is Thursday, December 31st. Goldman Sachs BDC’s dividend payout ratio is currently 492.31%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Bridgewealth Advisory Group LLC acquired a new position in shares of Goldman Sachs BDC during the 3rd quarter worth approximately $147,000. Global Wealth Management Investment Advisory Inc. increased its holdings in shares of Goldman Sachs BDC by 5.6% during the third quarter. Global Wealth Management Investment Advisory Inc. now owns 118,608 shares of the financial services provider’s stock worth $1,078,000 after purchasing an additional 6,311 shares during the period. Private Management Group Inc. raised its position in shares of Goldman Sachs BDC by 5.0% in the third quarter. Private Management Group Inc. now owns 5,440,142 shares of the financial services provider’s stock valued at $49,451,000 after buying an additional 261,504 shares in the last quarter. Ethic Inc. acquired a new stake in shares of Goldman Sachs BDC in the third quarter valued at approximately $669,000. Finally, Arlington Capital Management INC acquired a new stake in shares of Goldman Sachs BDC in the third quarter valued at approximately $566,000. Institutional investors own 28.72% of the company’s stock.

About Goldman Sachs BDC

Goldman Sachs BDC, Inc. is a business development company that provides financing to middle-market companies, primarily in the United States. It seeks to support businesses that may need capital for growth, acquisitions, refinancing, or other corporate purposes. The company invests mainly in debt securities, including senior secured, unitranche, second-lien, and subordinated loans. It may also make equity and equity-related investments, often alongside its lending activities. Goldman Sachs BDC is externally managed by Goldman Sachs Asset Management, part of Goldman Sachs.