Golub Capital BDC (NASDAQ:GBDC) Reaches New 12-Month High Following Dividend Announcement

Shares of Golub Capital BDC, Inc. (NASDAQ:GBDC) reached a new 52-week high on Monday after the company announced a dividend. The company traded as high as $16.89 and last traded at $16.88, with a volume of 174395 shares changing hands. The stock had previously closed at $16.80.

The newly announced dividend which will be paid on Friday, June 21st. Investors of record on Thursday, May 2nd will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 9.06%. The ex-dividend date is Wednesday, May 1st. Golub Capital BDC’s payout ratio is currently 85.71%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on GBDC shares. Bank of America raised shares of Golub Capital BDC from a “neutral” rating to a “buy” rating and set a $17.00 price objective for the company in a research report on Monday, March 25th. Wells Fargo & Company increased their price target on Golub Capital BDC from $15.00 to $15.50 and gave the company an “equal weight” rating in a research report on Monday, January 29th. StockNews.com cut Golub Capital BDC from a “buy” rating to a “hold” rating in a research report on Friday, March 29th. Finally, Raymond James raised 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. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $16.40.

Golub Capital BDC Price Performance

The business’s fifty day moving average is $16.13 and its 200 day moving average is $15.37. The company has a market cap of $2.95 billion, a P/E ratio of 9.46 and a beta of 0.57. The company has a current ratio of 3.15, a quick ratio of 3.15 and a debt-to-equity ratio of 1.20.

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

Institutional Investors Weigh In On Golub Capital BDC

Several institutional investors have recently added to or reduced their stakes in GBDC. Sound Income Strategies LLC increased its stake in shares of Golub Capital BDC by 4.6% in the first quarter. Sound Income Strategies LLC now owns 2,661,937 shares of the investment management company’s stock worth $44,268,000 after purchasing an additional 116,366 shares in the last quarter. Van ECK Associates Corp grew its stake in Golub Capital BDC by 8.7% in the 4th quarter. Van ECK Associates Corp now owns 2,472,926 shares of the investment management company’s stock valued at $37,341,000 after buying an additional 197,681 shares in the last quarter. Sage Mountain Advisors LLC raised its holdings in Golub Capital BDC by 5.1% during the 4th quarter. Sage Mountain Advisors LLC now owns 2,172,722 shares of the investment management company’s stock valued at $32,808,000 after acquiring an additional 106,411 shares during the period. Cerity Partners LLC lifted its position in shares of Golub Capital BDC by 4,797.5% during the fourth quarter. Cerity Partners LLC now owns 1,740,391 shares of the investment management company’s stock worth $26,280,000 after acquiring an additional 1,704,855 shares in the last quarter. Finally, Arnhold LLC boosted its holdings in shares of Golub Capital BDC by 0.3% in the third quarter. Arnhold LLC now owns 1,510,811 shares of the investment management company’s stock worth $22,164,000 after acquiring an additional 4,000 shares during the period. 42.38% of the stock is owned by hedge funds and other institutional investors.

Golub Capital BDC Company Profile

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.