Golub Capital BDC (NASDAQ:GBDC) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of Golub Capital BDC (NASDAQ:GBDC) from a strong sell rating to a hold rating in a research note issued to investors on Monday morning,Zacks.com reports.

A number of other research analysts have also recently issued reports on GBDC. Oppenheimer reissued an “outperform” rating and issued a $14.00 target price on shares of Golub Capital BDC in a research note on Wednesday, May 6th. Royal Bank Of Canada cut their price objective on Golub Capital BDC from $15.00 to $14.00 and set an “outperform” rating on the stock in a report on Thursday, May 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Golub Capital BDC in a research note on Wednesday, June 24th. Finally, Wall Street Zen downgraded shares of Golub Capital BDC from a “hold” rating to a “sell” rating in a report on Sunday, April 19th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Golub Capital BDC has an average rating of “Moderate Buy” and an average price target of $14.00.

Golub Capital BDC Price Performance

Shares of GBDC stock opened at $12.75 on Monday. Golub Capital BDC has a 12-month low of $11.77 and a 12-month high of $15.63. The firm has a market capitalization of $3.32 billion, a price-to-earnings ratio of 16.56 and a beta of 0.39. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 1.25. The firm has a fifty day moving average of $12.97 and a 200-day moving average of $12.96.

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

Golub Capital BDC Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 15th were paid a $0.33 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.32 annualized dividend and a dividend yield of 10.4%. Golub Capital BDC’s dividend payout ratio (DPR) is currently 171.43%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. grew its stake in shares of Golub Capital BDC by 5.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,548,553 shares of the investment management company’s stock worth $34,890,000 after acquiring an additional 125,881 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Golub Capital BDC by 9.0% in the third quarter. Van ECK Associates Corp now owns 4,843,816 shares of the investment management company’s stock valued at $66,312,000 after purchasing an additional 401,723 shares during the last quarter. Sound Income Strategies LLC lifted its position in shares of Golub Capital BDC by 6.6% in the fourth quarter. Sound Income Strategies LLC now owns 3,602,799 shares of the investment management company’s stock worth $49,791,000 after purchasing an additional 224,142 shares in the last quarter. Muzinich & Co. Inc. lifted its position in shares of Golub Capital BDC by 20.5% in the fourth quarter. Muzinich & Co. Inc. now owns 1,959,272 shares of the investment management company’s stock worth $26,587,000 after purchasing an additional 333,636 shares in the last quarter. Finally, Sage Mountain Advisors LLC boosted its holdings in Golub Capital BDC by 11.0% during the fourth quarter. Sage Mountain Advisors LLC now owns 3,360,932 shares of the investment management company’s stock worth $45,608,000 after purchasing an additional 332,443 shares during the last quarter. 42.38% of the stock is owned by institutional investors and hedge funds.

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.