Golub Capital BDC (NASDAQ:GBDC) Sets New 1-Year High After Dividend Announcement

Golub Capital BDC, Inc. (NASDAQ:GBDC) shares reached a new 52-week high during mid-day trading on Monday following a dividend announcement from the company. The company traded as high as $16.89 and last traded at $16.88, with a volume of 174395 shares. The stock had previously closed at $16.80.

The newly announced dividend which will be paid on Friday, June 21st. Shareholders of record on Thursday, May 2nd will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Wednesday, May 1st. This represents a $1.56 annualized dividend and a yield of 9.06%. Golub Capital BDC’s dividend payout ratio is currently 85.71%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on GBDC shares. Bank of America raised Golub Capital BDC from a “neutral” rating to a “buy” rating and set a $17.00 price target for the company in a research note on Monday, March 25th. Raymond James upped their price target on Golub Capital BDC from $16.00 to $16.50 and gave the company an “outperform” rating in a research note on Tuesday, January 23rd. Wells Fargo & Company upped their price target on Golub Capital BDC from $15.00 to $15.50 and gave the company an “equal weight” rating in a research note on Monday, January 29th. Finally, StockNews.com cut Golub Capital BDC from a “buy” rating to a “hold” rating in a research note on Friday, March 29th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Golub Capital BDC currently has an average rating of “Moderate Buy” and a consensus target price of $16.40.

Golub Capital BDC Price Performance

The company has a debt-to-equity ratio of 1.20, a quick ratio of 3.15 and a current ratio of 3.15. The company has a 50-day moving average of $16.13 and a 200-day moving average of $15.37. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of 9.46 and a beta of 0.57.

Golub Capital BDC (NASDAQ:GBDC) last issued its quarterly earnings data on Monday, February 5th. The investment management company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.01). Golub Capital BDC had a net margin of 48.94% and a return on equity of 12.53%. The business had revenue of $164.77 million during the quarter, compared to analyst estimates of $160.93 million. As a group, research analysts anticipate that Golub Capital BDC, Inc. will post 1.95 EPS for the current fiscal year.

Hedge Funds Weigh In On Golub Capital BDC

Several institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC acquired a new position in Golub Capital BDC during the 3rd quarter worth approximately $1,201,000. Commonwealth Equity Services LLC boosted its position in Golub Capital BDC by 0.9% during the 3rd quarter. Commonwealth Equity Services LLC now owns 88,270 shares of the investment management company’s stock worth $1,295,000 after acquiring an additional 816 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in Golub Capital BDC by 18.7% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 23,347 shares of the investment management company’s stock worth $342,000 after acquiring an additional 3,676 shares during the last quarter. Raymond James & Associates boosted its position in Golub Capital BDC by 3.5% during the 3rd quarter. Raymond James & Associates now owns 39,988 shares of the investment management company’s stock worth $587,000 after acquiring an additional 1,358 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its position in Golub Capital BDC by 19.9% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 17,546 shares of the investment management company’s stock worth $257,000 after acquiring an additional 2,909 shares during the last quarter. 42.38% of the stock is currently 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.