Wells Fargo & Company Cuts Golub Capital BDC (NASDAQ:GBDC) Price Target to $15.00

Golub Capital BDC (NASDAQ:GBDC) had its target price lowered by Wells Fargo & Company from $15.50 to $15.00 in a report released on Thursday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the investment management company’s stock.

A number of other analysts have also issued reports on the stock. StockNews.com upgraded shares of Golub Capital BDC from a “sell” rating to a “hold” rating in a research note on Thursday, October 10th. Oppenheimer reaffirmed an “outperform” rating and set a $17.00 target price on shares of Golub Capital BDC in a research note on Wednesday, August 7th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Golub Capital BDC from $17.50 to $16.50 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $16.40.

Golub Capital BDC Trading Up 1.0 %

GBDC opened at $15.30 on Thursday. Golub Capital BDC has a 52 week low of $14.05 and a 52 week high of $17.72. The company has a quick ratio of 5.01, a current ratio of 4.73 and a debt-to-equity ratio of 1.15. The business has a fifty day simple moving average of $15.20 and a 200-day simple moving average of $15.41. The firm has a market cap of $2.62 billion, a P/E ratio of 10.85 and a beta of 0.54.

Golub Capital BDC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 9th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $1.56 annualized dividend and a dividend yield of 10.20%. Golub Capital BDC’s dividend payout ratio is currently 110.64%.

Insider Buying and Selling at Golub Capital BDC

In other Golub Capital BDC news, Chairman Lawrence E. Golub purchased 20,000 shares of the stock in a transaction dated Thursday, September 5th. The shares were acquired at an average cost of $14.91 per share, for a total transaction of $298,200.00. Following the completion of the transaction, the chairman now directly owns 1,998,880 shares of the company’s stock, valued at $29,803,300.80. This trade represents a 1.01 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders acquired 60,000 shares of company stock valued at $897,200. 2.70% of the stock is owned by company insiders.

Institutional Trading of Golub Capital BDC

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Nicholas Hoffman & Company LLC. raised its holdings in Golub Capital BDC by 1.8% in the third quarter. Nicholas Hoffman & Company LLC. now owns 38,531 shares of the investment management company’s stock valued at $582,000 after buying an additional 664 shares during the period. Neville Rodie & Shaw Inc. lifted its holdings in shares of Golub Capital BDC by 1.3% during the 3rd quarter. Neville Rodie & Shaw Inc. now owns 54,557 shares of the investment management company’s stock valued at $824,000 after acquiring an additional 715 shares in the last quarter. Moors & Cabot Inc. boosted its position in Golub Capital BDC by 2.3% during the 3rd quarter. Moors & Cabot Inc. now owns 38,143 shares of the investment management company’s stock worth $576,000 after purchasing an additional 875 shares during the period. Silvercrest Asset Management Group LLC increased its holdings in Golub Capital BDC by 3.0% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 33,077 shares of the investment management company’s stock valued at $550,000 after purchasing an additional 970 shares in the last quarter. Finally, Wedbush Securities Inc. raised its position in Golub Capital BDC by 2.8% in the second quarter. Wedbush Securities Inc. now owns 37,031 shares of the investment management company’s stock valued at $582,000 after purchasing an additional 1,000 shares during the period. 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.