Wells Fargo & Company Cuts Goldman Sachs BDC (NYSE:GSBD) Price Target to $8.00

Goldman Sachs BDC (NYSE:GSBD) had its target price decreased by Wells Fargo & Company from $9.00 to $8.00 in a research report report published on Monday,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the financial services provider’s stock.

GSBD has been the topic of several other research reports. The Goldman Sachs Group initiated coverage on Goldman Sachs BDC in a research report on Monday, December 15th. They set a “neutral” rating and a $10.50 target price on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of Goldman Sachs BDC in a research report on Monday, December 29th. Lucid Cap Mkts upgraded shares of Goldman Sachs BDC to a “hold” rating in a report on Monday, December 15th. Finally, Zacks Research upgraded shares of Goldman Sachs BDC from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 13th. Four investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $9.50.

Goldman Sachs BDC Trading Up 2.0%

NYSE GSBD opened at $9.35 on Monday. Goldman Sachs BDC has a 52 week low of $8.81 and a 52 week high of $12.60. The firm has a 50 day moving average of $9.30 and a two-hundred day moving average of $9.96. The stock has a market capitalization of $1.05 billion, a PE ratio of 8.99 and a beta of 0.62. The company has a quick ratio of 1.81, a current ratio of 1.01 and a debt-to-equity ratio of 1.32.

Goldman Sachs BDC (NYSE:GSBD) last posted its earnings results on Thursday, February 26th. The financial services provider reported $0.37 EPS for the quarter, beating the consensus estimate of $0.36 by $0.01. The firm had revenue of $38.79 million for the quarter, compared to analyst estimates of $87.18 million. Goldman Sachs BDC had a return on equity of 12.23% and a net margin of 32.62%. As a group, research analysts expect that Goldman Sachs BDC will post 2.19 EPS for the current fiscal year.

Goldman Sachs BDC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 28th. Investors of record on Tuesday, March 31st will be paid a dividend of $0.32 per share. The ex-dividend date is Tuesday, March 31st. This represents a $1.28 dividend on an annualized basis and a yield of 13.7%. Goldman Sachs BDC’s dividend payout ratio is currently 123.08%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of GSBD. MTM Investment Management LLC purchased a new position in shares of Goldman Sachs BDC during the second quarter worth about $25,000. ORG Partners LLC purchased a new position in shares of Goldman Sachs BDC in the 4th quarter valued at approximately $33,000. CWM LLC increased its holdings in shares of Goldman Sachs BDC by 187.8% in the third quarter. CWM LLC now owns 4,864 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 3,174 shares during the period. State of Alaska Department of Revenue acquired a new position in shares of Goldman Sachs BDC in the third quarter valued at approximately $51,000. Finally, Kestra Advisory Services LLC purchased a new stake in shares of Goldman Sachs BDC during the fourth quarter worth approximately $57,000. 28.72% of the stock is currently owned by institutional investors and hedge funds.

Goldman Sachs BDC Company Profile

Goldman Sachs BDC, Inc (NYSE: GSBD) is an externally managed, closed-end, non-diversified management investment company organized as a business development company (BDC) under the U.S. Investment Company Act of 1940. The company’s primary objective is to generate current income and capital appreciation through debt and equity investments in U.S. middle-market companies. It principally invests in senior secured loans, mezzanine debt, preferred equity and, to a lesser extent, common equity, focusing on sponsor-backed transactions and special-situation financings.

The fund is advised by affiliates of Goldman Sachs Asset Management’s Private Credit Group, leveraging the firm’s global research capabilities and risk management infrastructure.