Golub Capital BDC (NASDAQ:GBDC) Rating Reiterated by Oppenheimer

Oppenheimer reissued their outperform rating on shares of Golub Capital BDC (NASDAQ:GBDC) in a research note issued to investors on Wednesday morning, Benzinga reports. Oppenheimer currently has a $17.00 target price on the investment management company’s stock.

Several other equities analysts have also issued reports on the company. Keefe, Bruyette & Woods lowered their price target on Golub Capital BDC from $17.50 to $16.50 and set an outperform rating on the stock in a research note on Wednesday. Wells Fargo & Company lowered their price objective on Golub Capital BDC from $15.50 to $15.00 and set an equal weight rating on the stock in a research report on Wednesday. Raymond James cut Golub Capital BDC from an outperform rating to a market perform rating in a research report on Wednesday, May 8th. Finally, StockNews.com lowered shares of Golub Capital BDC from a buy rating to a hold rating in a report on Wednesday, July 24th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $16.40.

Golub Capital BDC Stock Performance

Shares of GBDC traded up $0.01 during mid-day trading on Wednesday, hitting $14.40. The company’s stock had a trading volume of 1,412,616 shares, compared to its average volume of 1,080,645. The stock’s 50-day moving average is $15.57 and its two-hundred day moving average is $15.97. The firm has a market capitalization of $2.47 billion, a PE ratio of 7.09 and a beta of 0.52. The company has a debt-to-equity ratio of 1.26, a quick ratio of 6.29 and a current ratio of 6.29. Golub Capital BDC has a one year low of $13.95 and a one year high of $17.72.

Golub Capital BDC (NASDAQ:GBDC) last released its earnings results on Monday, August 5th. The investment management company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.01). Golub Capital BDC had a net margin of 53.05% and a return on equity of 13.03%. The company had revenue of $171.27 million for the quarter, compared to analyst estimates of $205.24 million. During the same quarter in the previous year, the company earned $0.44 earnings per share. As a group, sell-side analysts anticipate that Golub Capital BDC will post 1.95 EPS for the current year.

Golub Capital BDC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be given a dividend of $0.39 per share. The ex-dividend date is Friday, August 30th. This represents a $1.56 annualized dividend and a dividend yield of 10.83%. Golub Capital BDC’s dividend payout ratio (DPR) is presently 76.85%.

Insider Activity at Golub Capital BDC

In related news, CEO David Golub acquired 450,000 shares of the company’s stock in a transaction on Tuesday, June 11th. The stock was purchased at an average cost of $16.03 per share, for a total transaction of $7,213,500.00. Following the completion of the purchase, the chief executive officer now directly owns 1,718,880 shares of the company’s stock, valued at approximately $27,553,646.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO David Golub purchased 450,000 shares of Golub Capital BDC stock in a transaction on Tuesday, June 11th. The shares were purchased at an average cost of $16.03 per share, for a total transaction of $7,213,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,718,880 shares in the company, valued at $27,553,646.40. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Lawrence E. Golub acquired 88,748 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were purchased at an average cost of $16.03 per share, for a total transaction of $1,422,630.44. Following the completion of the purchase, the chairman now directly owns 1,357,628 shares of the company’s stock, valued at approximately $21,762,776.84. The disclosure for this purchase can be found here. Insiders have purchased a total of 601,015 shares of company stock valued at $9,636,138 in the last 90 days. 2.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Golub Capital BDC

Hedge funds and other institutional investors have recently bought and sold shares of the business. Private Trust Co. NA grew its holdings in shares of Golub Capital BDC by 1,005.0% during the fourth quarter. Private Trust Co. NA now owns 2,199 shares of the investment management company’s stock worth $33,000 after purchasing an additional 2,000 shares during the last quarter. Future Financial Wealth Managment LLC bought a new stake in Golub Capital BDC during the 1st quarter worth about $38,000. Cove Street Capital LLC acquired a new stake in Golub Capital BDC in the 2nd quarter valued at about $39,000. Nomura Asset Management Co. Ltd. raised its stake in shares of Golub Capital BDC by 77.1% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 3,463 shares of the investment management company’s stock worth $52,000 after acquiring an additional 1,508 shares during the last quarter. Finally, Brown Brothers Harriman & Co. bought a new position in shares of Golub Capital BDC in the second quarter worth about $71,000. 42.38% of the stock is owned by institutional investors and hedge funds.

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.