Wells Fargo & Company Cuts Golub Capital BDC (NASDAQ:GBDC) Price Target to $15.00

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

Several other research firms have also weighed in on GBDC. Oppenheimer reissued an “outperform” rating and set a $17.00 price objective on shares of Golub Capital BDC in a research note on Wednesday, August 7th. Keefe, Bruyette & Woods decreased their price target on Golub Capital BDC from $17.50 to $16.50 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Finally, StockNews.com upgraded Golub Capital BDC from a “sell” rating to a “hold” rating in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $16.40.

Golub Capital BDC Stock Up 1.0 %

GBDC stock opened at $15.30 on Thursday. The firm has a market cap of $2.62 billion, a PE ratio of 10.85 and a beta of 0.54. Golub Capital BDC has a 12 month low of $14.05 and a 12 month 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. The firm has a 50 day simple moving average of $15.20 and a 200 day simple moving average of $15.41.

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 issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 10.20%. The ex-dividend date is Monday, December 9th. Golub Capital BDC’s dividend payout ratio is currently 110.64%.

Insider Buying and Selling at Golub Capital BDC

In related news, Chairman Lawrence E. Golub bought 20,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was bought at an average price of $15.04 per share, with a total value of $300,800.00. Following the purchase, the chairman now directly owns 1,898,880 shares of the company’s stock, valued at approximately $28,559,155.20. This represents a 1.06 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders have purchased 80,000 shares of company stock worth $1,197,400. 2.70% of the stock is currently owned by company insiders.

Institutional Trading of Golub Capital BDC

Hedge funds and other institutional investors have recently modified their holdings of the company. Hexagon Capital Partners LLC grew its stake in 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 purchasing an additional 1,355 shares in the last quarter. Allworth Financial LP grew its stake in shares of 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 valued at $35,000 after buying an additional 1,347 shares in the last quarter. Cove Street Capital LLC acquired a new position in Golub Capital BDC in the second quarter worth approximately $39,000. Quarry LP bought a new position in Golub Capital BDC during the second quarter valued at approximately $61,000. Finally, Brown Brothers Harriman & Co. acquired a new stake in Golub Capital BDC in the second quarter valued at approximately $71,000. 42.38% of the stock is currently owned by hedge funds and other institutional investors.

About Golub Capital BDC

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.