Wells Fargo & Company Has Lowered Expectations for Golub Capital BDC (NASDAQ:GBDC) Stock Price

Golub Capital BDC (NASDAQ:GBDC) had its price target decreased by Wells Fargo & Company from $15.50 to $15.00 in a report issued on Thursday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the investment management company’s stock.

Several other equities analysts have also weighed in on GBDC. StockNews.com raised shares of Golub Capital BDC from a “sell” rating to a “hold” rating in a report on Thursday, October 10th. Oppenheimer reiterated an “outperform” rating and issued a $17.00 price objective on shares of Golub Capital BDC in a research report on Wednesday, August 7th. Finally, Keefe, Bruyette & Woods dropped their target price on Golub Capital BDC from $17.50 to $16.50 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $16.40.

Golub Capital BDC Stock Up 1.0 %

NASDAQ:GBDC opened at $15.30 on Thursday. The firm has a market capitalization of $2.62 billion, a P/E ratio of 10.85 and a beta of 0.54. The company’s fifty day moving average price is $15.20 and its 200-day moving average price is $15.41. Golub Capital BDC has a 1-year low of $14.05 and a 1-year high of $17.72. The company has a debt-to-equity ratio of 1.15, a current ratio of 4.73 and a quick ratio of 5.01.

Golub Capital BDC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 9th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $1.56 annualized dividend and a dividend yield of 10.20%. Golub Capital BDC’s dividend payout ratio (DPR) is presently 110.64%.

Insider Buying and Selling

In other news, CEO David Golub purchased 20,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average cost of $14.91 per share, with a total value of $298,200.00. Following the completion of the purchase, the chief executive officer now directly owns 1,958,880 shares of the company’s stock, valued at approximately $29,206,900.80. The trade was a 1.03 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. In the last three months, insiders have bought 60,000 shares of company stock worth $897,200. Insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GBDC. Hexagon Capital Partners LLC raised its position in shares of Golub Capital BDC by 171.5% in the third quarter. Hexagon Capital Partners LLC now owns 2,145 shares of the investment management company’s stock valued at $32,000 after buying an additional 1,355 shares during the last quarter. Allworth Financial LP lifted its stake in Golub Capital BDC by 135.6% in the 3rd quarter. Allworth Financial LP now owns 2,340 shares of the investment management company’s stock worth $35,000 after purchasing an additional 1,347 shares in the last quarter. Cove Street Capital LLC acquired a new position in shares of Golub Capital BDC during the 2nd quarter worth approximately $39,000. Quarry LP purchased a new stake in shares of Golub Capital BDC in the second quarter valued at approximately $61,000. Finally, Brown Brothers Harriman & Co. acquired a new stake in shares of Golub Capital BDC in the second quarter valued at approximately $71,000. Hedge funds and other institutional investors own 42.38% of the company’s stock.

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.