Golub Capital BDC (NASDAQ:GBDC) Sees Large Volume Increase Following Dividend Announcement

Golub Capital BDC, Inc. (NASDAQ:GBDC) shares saw an uptick in trading volume on Wednesday after the company announced a dividend. 2,261,110 shares traded hands during mid-day trading, an increase of 70% from the previous session’s volume of 1,326,537 shares.The stock last traded at $15.19 and had previously closed at $15.67.

The newly announced dividend which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 10.21%. The ex-dividend date of this dividend is Monday, March 3rd. Golub Capital BDC’s dividend payout ratio is presently 110.64%.

Analyst Ratings Changes

A number of research firms have issued reports on GBDC. Wells Fargo & Company decreased their price target on shares of Golub Capital BDC from $15.50 to $15.00 and set an “equal weight” rating for the company in a report on Thursday, November 21st. StockNews.com upgraded Golub Capital BDC from a “sell” rating to a “hold” rating in a research note on Friday, November 29th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Golub Capital BDC currently has an average rating of “Moderate Buy” and an average target price of $16.38.

Golub Capital BDC Stock Performance

The firm’s fifty day simple moving average is $15.30 and its 200 day simple moving average is $15.16. The company has a market capitalization of $4.04 billion, a PE ratio of 10.84 and a beta of 0.54. The company has a debt-to-equity ratio of 1.15, a current ratio of 4.73 and a quick ratio of 4.73.

Golub Capital BDC (NASDAQ:GBDC) last posted its earnings results on Tuesday, February 4th. The investment management company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.04). Golub Capital BDC had a return on equity of 11.86% and a net margin of 37.78%. On average, research analysts predict that Golub Capital BDC, Inc. will post 1.69 EPS for the current year.

Hedge Funds Weigh In On Golub Capital BDC

Several institutional investors have recently made changes to their positions in GBDC. Hexagon Capital Partners LLC boosted its holdings in Golub Capital BDC by 171.5% during the third quarter. Hexagon Capital Partners LLC now owns 2,145 shares of the investment management company’s stock worth $32,000 after buying an additional 1,355 shares in the last quarter. Allworth Financial LP boosted its stake in shares of Golub Capital BDC by 135.6% during the 3rd quarter. Allworth Financial LP now owns 2,340 shares of the investment management company’s stock worth $35,000 after acquiring an additional 1,347 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Golub Capital BDC by 413.1% during the 4th quarter. Blue Trust Inc. now owns 2,386 shares of the investment management company’s stock worth $36,000 after acquiring an additional 1,921 shares in the last quarter. Parkside Financial Bank & Trust grew its position in shares of Golub Capital BDC by 36.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 3,116 shares of the investment management company’s stock valued at $47,000 after acquiring an additional 827 shares during the period. Finally, Cary Street Partners Asset Management LLC purchased a new position in shares of Golub Capital BDC in the 3rd quarter valued at about $151,000. 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.