Golub Capital BDC (NASDAQ:GBDC) Upgraded to Buy at Bank of America

Bank of America upgraded shares of Golub Capital BDC (NASDAQ:GBDC) from a neutral rating to a buy rating in a research note published on Monday, Marketbeat Ratings reports. The brokerage currently has $17.00 price target on the investment management company’s stock.

Several other equities analysts have also recently weighed in on GBDC. Raymond James increased their price objective on shares of Golub Capital BDC from $16.00 to $16.50 and gave the stock an outperform rating in a research note on Tuesday, January 23rd. Wells Fargo & Company raised their target price on shares of Golub Capital BDC from $15.00 to $15.50 and gave the stock an equal weight rating in a research note on Monday, January 29th. Finally, StockNews.com cut shares of Golub Capital BDC from a buy rating to a hold rating in a research note on Wednesday, March 20th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $16.40.

Golub Capital BDC Stock Performance

Shares of GBDC stock opened at $16.63 on Monday. Golub Capital BDC has a one year low of $12.77 and a one year high of $16.77. The company’s 50-day moving average is $15.72 and its 200 day moving average is $15.08. The company has a market capitalization of $2.84 billion, a price-to-earnings ratio of 9.14 and a beta of 0.57. The company has a debt-to-equity ratio of 1.20, a quick ratio of 3.15 and a current ratio of 3.15.

Golub Capital BDC (NASDAQ:GBDC) last announced its quarterly earnings results on Monday, February 5th. The investment management company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). The company had revenue of $164.77 million for the quarter, compared to analysts’ expectations of $160.93 million. Golub Capital BDC had a net margin of 48.94% and a return on equity of 12.53%. Sell-side analysts expect that Golub Capital BDC will post 1.95 EPS for the current fiscal year.

Golub Capital BDC Announces Dividend

The company also recently disclosed a Variable dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 15th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, February 14th. Golub Capital BDC’s payout ratio is 85.71%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. US Bancorp DE grew its holdings in shares of Golub Capital BDC by 45.0% in the fourth quarter. US Bancorp DE now owns 2,296 shares of the investment management company’s stock worth $35,000 after purchasing an additional 713 shares during the last quarter. Kestra Advisory Services LLC grew its holdings in shares of Golub Capital BDC by 5.8% in the fourth quarter. Kestra Advisory Services LLC now owns 13,546 shares of the investment management company’s stock worth $205,000 after purchasing an additional 747 shares during the last quarter. Cynosure Management LLC grew its holdings in shares of Golub Capital BDC by 1.0% in the second quarter. Cynosure Management LLC now owns 73,389 shares of the investment management company’s stock worth $991,000 after purchasing an additional 760 shares during the last quarter. Chicago Partners Investment Group LLC grew its holdings in shares of Golub Capital BDC by 4.3% in the fourth quarter. Chicago Partners Investment Group LLC now owns 18,575 shares of the investment management company’s stock worth $286,000 after purchasing an additional 771 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its holdings in shares of Golub Capital BDC by 0.9% in the third quarter. Commonwealth Equity Services LLC now owns 88,270 shares of the investment management company’s stock worth $1,295,000 after purchasing an additional 816 shares during the last quarter. 42.38% of the stock is owned by hedge funds and other institutional investors.

About Golub Capital BDC

Golub Capital BDC, Inc (GBDC) is a business development company and operates as an externally managed closed-end non-diversified management investment company. It invests in debt and minority equity investments in middle-market companies that are, in most cases, sponsored by private equity investors.