Royal Bank Of Canada Cuts Golub Capital BDC (NASDAQ:GBDC) Price Target to $14.00

Golub Capital BDC (NASDAQ:GBDC) had its target price reduced by Royal Bank Of Canada from $15.00 to $14.00 in a report issued on Thursday,Benzinga reports. They currently have an outperform rating on the investment management company’s stock.

GBDC has been the subject of a number of other research reports. Keefe, Bruyette & Woods decreased their price target on Golub Capital BDC from $15.00 to $14.00 and set an “outperform” rating for the company in a research report on Friday, February 6th. Wall Street Zen downgraded Golub Capital BDC from a “hold” rating to a “sell” rating in a report on Sunday, April 19th. Lucid Cap Mkts raised shares of Golub Capital BDC to a “strong-buy” rating in a research note on Thursday, January 15th. Oppenheimer reiterated an “outperform” rating and issued a $14.00 target price on shares of Golub Capital BDC in a report on Wednesday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Golub Capital BDC in a report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Golub Capital BDC presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.25.

Golub Capital BDC Price Performance

NASDAQ GBDC opened at $13.16 on Thursday. Golub Capital BDC has a 1 year low of $11.77 and a 1 year high of $15.63. The business’s fifty day moving average is $12.73 and its two-hundred day moving average is $13.28. The stock has a market capitalization of $3.43 billion, a P/E ratio of 17.09 and a beta of 0.41. The company has a debt-to-equity ratio of 1.25, a quick ratio of 2.24 and a current ratio of 2.20.

Golub Capital BDC (NASDAQ:GBDC) last released its quarterly earnings data on Monday, May 4th. The investment management company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.02). The company had revenue of ($5.28) million for the quarter, compared to the consensus estimate of $201.71 million. Golub Capital BDC had a return on equity of 10.20% and a net margin of 24.64%.During the same period in the prior year, the business earned $0.30 earnings per share. On average, research analysts forecast that Golub Capital BDC will post 1.36 earnings per share for the current fiscal year.

Golub Capital BDC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 15th will be issued a dividend of $0.33 per share. The ex-dividend date is Monday, June 15th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 10.0%. Golub Capital BDC’s payout ratio is currently 171.43%.

Institutional Investors Weigh In On Golub Capital BDC

Several hedge funds have recently bought and sold shares of the business. Lalia Capital LLC acquired a new stake in Golub Capital BDC during the 4th quarter worth about $33,642,000. HighTower Advisors LLC lifted its position in shares of Golub Capital BDC by 279.4% in the third quarter. HighTower Advisors LLC now owns 2,529,267 shares of the investment management company’s stock worth $34,626,000 after purchasing an additional 1,862,632 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Golub Capital BDC by 53.7% in the fourth quarter. JPMorgan Chase & Co. now owns 3,917,312 shares of the investment management company’s stock worth $53,158,000 after purchasing an additional 1,368,759 shares in the last quarter. Rivernorth Capital Management LLC boosted its holdings in shares of Golub Capital BDC by 226.6% during the fourth quarter. Rivernorth Capital Management LLC now owns 1,714,828 shares of the investment management company’s stock worth $23,270,000 after purchasing an additional 1,189,706 shares during the period. Finally, UBS Group AG grew its position in Golub Capital BDC by 29.4% during the fourth quarter. UBS Group AG now owns 2,864,751 shares of the investment management company’s stock valued at $38,875,000 after purchasing an additional 651,110 shares in the last quarter. 42.38% of the stock is owned by hedge funds and other institutional investors.

About Golub Capital BDC

Golub Capital BDC (NASDAQ: GBDC) is a publicly traded business development company specializing in providing debt and equity financing solutions to middle-market companies in the United States. Externally managed by Golub Capital LLC, the firm focuses on building a diversified portfolio of senior secured loans, unitranche facilities and second-lien debt instruments designed to support growth, acquisitions and recapitalizations. As a closed-end investment vehicle, GBDC offers investors direct exposure to private credit strategies within a regulated structure.

The company’s core business activities center on originating and managing bespoke financing arrangements for U.S.