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

Shares of Golub Capital BDC, Inc. (NASDAQ:GBDC) reached a new 52-week high during trading on Monday following a dividend announcement from the company. The stock traded as high as $16.89 and last traded at $16.88, with a volume of 174395 shares traded. 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 paid a $0.39 dividend. The ex-dividend date is Wednesday, May 1st. This represents a $1.56 dividend on an annualized basis and a yield of 9.06%. Golub Capital BDC’s dividend payout ratio (DPR) is presently 85.71%.

Analysts Set New Price Targets

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

Golub Capital BDC Stock Performance

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

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of GBDC. Cerity Partners LLC raised its stake in shares of Golub Capital BDC by 4,797.5% in the fourth quarter. Cerity Partners LLC now owns 1,740,391 shares of the investment management company’s stock valued at $26,280,000 after buying an additional 1,704,855 shares during the period. Allen Investment Management LLC raised its stake in shares of Golub Capital BDC by 114.5% in the third quarter. Allen Investment Management LLC now owns 1,371,018 shares of the investment management company’s stock valued at $20,113,000 after buying an additional 731,959 shares during the period. Confluence Investment Management LLC bought a new stake in shares of Golub Capital BDC in the first quarter valued at $5,509,000. Pathstone Family Office LLC bought a new stake in shares of Golub Capital BDC in the third quarter valued at $3,674,000. Finally, Shikiar Asset Management Inc. raised its stake in shares of Golub Capital BDC by 187.5% in the fourth quarter. Shikiar Asset Management Inc. now owns 342,380 shares of the investment management company’s stock valued at $5,170,000 after buying an additional 223,300 shares during the period. Hedge funds and other institutional investors own 42.38% of the company’s stock.

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.