Barings BDC (NYSE:BBDC) Price Target Cut to $10.00 by Analysts at Bank of America

Barings BDC (NYSE:BBDC) had its target price reduced by Bank of America from $11.00 to $10.00 in a research report report published on Monday morning,Benzinga reports. Bank of America currently has a buy rating on the stock.

Several other research firms have also recently commented on BBDC. Keefe, Bruyette & Woods dropped their target price on shares of Barings BDC from $10.50 to $9.50 and set a “market perform” rating on the stock in a research report on Tuesday, April 8th. Wells Fargo & Company decreased their price target on shares of Barings BDC from $9.00 to $8.50 and set an “equal weight” rating for the company in a research note on Monday, May 12th.

Barings BDC Price Performance

Barings BDC stock opened at $9.14 on Monday. Barings BDC has a 52 week low of $7.66 and a 52 week high of $10.85. The company’s 50 day moving average price is $8.91 and its two-hundred day moving average price is $9.53. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.37. The stock has a market cap of $963.44 million, a P/E ratio of 8.79 and a beta of 0.73.

Barings BDC (NYSE:BBDC) last posted its earnings results on Thursday, May 8th. The company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.03). Barings BDC had a return on equity of 10.94% and a net margin of 38.54%. The firm had revenue of $64.44 million for the quarter, compared to the consensus estimate of $67.78 million. During the same period in the prior year, the business earned $0.28 EPS. Barings BDC’s quarterly revenue was down 7.7% compared to the same quarter last year. On average, equities analysts predict that Barings BDC will post 1.13 earnings per share for the current year.

Barings BDC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Wednesday, June 4th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 11.38%. Barings BDC’s payout ratio is currently 110.64%.

Institutional Investors Weigh In On Barings BDC

Large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. increased its stake in shares of Barings BDC by 393.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,582 shares of the company’s stock worth $25,000 after purchasing an additional 2,059 shares during the last quarter. Lee Danner & Bass Inc. purchased a new position in Barings BDC in the 4th quarter valued at approximately $25,000. Wealth Preservation Advisors LLC purchased a new position in Barings BDC in the 1st quarter valued at approximately $29,000. Golden State Wealth Management LLC purchased a new position in Barings BDC in the 1st quarter valued at approximately $37,000. Finally, Ameriflex Group Inc. purchased a new position in Barings BDC in the 4th quarter valued at approximately $80,000. Hedge funds and other institutional investors own 44.09% of the company’s stock.

About Barings BDC

Barings BDC, Inc is a publicly traded, externally managed investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. It seeks to invest primarily in senior secured loans, first lien debt, unitranche, second lien debt, subordinated debt, equity co-investments and senior secured private debt investments in private middle-market companies that operate across a wide range of industries.