PNC Financial Services Group Inc. Trims Position in Goldman Sachs BDC, Inc. (NYSE:GSBD)

PNC Financial Services Group Inc. trimmed its stake in shares of Goldman Sachs BDC, Inc. (NYSE:GSBD) by 37.2% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,643 shares of the financial services provider’s stock after selling 13,440 shares during the period. PNC Financial Services Group Inc.’s holdings in Goldman Sachs BDC were worth $263,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in shares of Goldman Sachs BDC in the 4th quarter worth $8,114,000. Jefferies Financial Group Inc. bought a new stake in Goldman Sachs BDC during the 4th quarter valued at about $1,690,000. Transcend Capital Advisors LLC bought a new stake in Goldman Sachs BDC during the 1st quarter valued at about $1,588,000. Round Rock Advisors LLC lifted its holdings in Goldman Sachs BDC by 174.7% during the 1st quarter. Round Rock Advisors LLC now owns 205,876 shares of the financial services provider’s stock valued at $2,394,000 after buying an additional 130,936 shares in the last quarter. Finally, Jane Street Group LLC lifted its holdings in Goldman Sachs BDC by 924.4% during the 4th quarter. Jane Street Group LLC now owns 132,152 shares of the financial services provider’s stock valued at $1,599,000 after buying an additional 119,252 shares in the last quarter. 28.72% of the stock is owned by hedge funds and other institutional investors.

Goldman Sachs BDC Trading Down 1.0%

NYSE:GSBD opened at $11.13 on Friday. Goldman Sachs BDC, Inc. has a one year low of $9.51 and a one year high of $14.54. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.50 and a current ratio of 1.50. The firm has a market cap of $1.27 billion, a P/E ratio of 8.83 and a beta of 0.75. The firm has a 50-day simple moving average of $11.52 and a 200-day simple moving average of $11.60.

Goldman Sachs BDC (NYSE:GSBD) last posted its quarterly earnings results on Thursday, August 7th. The financial services provider reported $0.38 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.02). Goldman Sachs BDC had a net margin of 36.17% and a return on equity of 13.95%. The business had revenue of $90.97 million during the quarter, compared to the consensus estimate of $94.55 million. Equities analysts anticipate that Goldman Sachs BDC, Inc. will post 2.19 EPS for the current fiscal year.

Goldman Sachs BDC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 28th. Stockholders of record on Tuesday, September 30th will be issued a $0.32 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $1.28 annualized dividend and a dividend yield of 11.5%. Goldman Sachs BDC’s payout ratio is currently 101.59%.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company decreased their price objective on shares of Goldman Sachs BDC from $12.00 to $10.00 and set an “underweight” rating for the company in a report on Monday, April 28th.

Goldman Sachs BDC Company Profile

Goldman Sachs BDC, Inc is a business development company specializing in middle market and mezzanine investment in private companies. It seeks to make capital appreciation through direct originations of secured debt, senior secured debt, junior secured debt, including first lien, first lien/last-out unitranche and second lien debt, unsecured debt, including mezzanine debt and, to a lesser extent, investments in equities.