Golub Capital BDC, Inc. (NASDAQ:GBDC – Get Free Report) announced a Variable dividend on Friday, February 2nd, Zacks reports. Shareholders of record on Thursday, February 15th will be paid a dividend of 0.07 per share by the investment management company on Friday, March 15th. The ex-dividend date is Wednesday, February 14th.
Golub Capital BDC has raised its dividend by an average of 5.3% annually over the last three years and has increased its dividend annually for the last 4 consecutive years. Golub Capital BDC has a payout ratio of 88.6% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect Golub Capital BDC to earn $1.75 per share next year, which means the company should continue to be able to cover its $1.56 annual dividend with an expected future payout ratio of 89.1%.
Golub Capital BDC Stock Up 1.0 %
Shares of GBDC traded up $0.15 during midday trading on Monday, hitting $15.50. 152,835 shares of the company’s stock traded hands, compared to its average volume of 879,632. Golub Capital BDC has a 1 year low of $12.27 and a 1 year high of $15.70. The firm’s fifty day moving average is $15.19 and its 200-day moving average is $14.75. The company has a current ratio of 3.15, a quick ratio of 3.15 and a debt-to-equity ratio of 1.20. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of 8.43 and a beta of 0.56.
Hedge Funds Weigh In On Golub Capital BDC
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its stake in Golub Capital BDC by 3.1% in the 1st quarter. JPMorgan Chase & Co. now owns 3,050,400 shares of the investment management company’s stock worth $41,363,000 after acquiring an additional 92,007 shares during the last quarter. Ares Management LLC grew its position in Golub Capital BDC by 23.3% during the 1st quarter. Ares Management LLC now owns 2,628,419 shares of the investment management company’s stock worth $39,978,000 after purchasing an additional 497,391 shares during the period. Millennium Management LLC grew its position in Golub Capital BDC by 304.4% during the 4th quarter. Millennium Management LLC now owns 2,083,931 shares of the investment management company’s stock worth $27,425,000 after purchasing an additional 1,568,572 shares during the period. BlackRock Inc. grew its position in Golub Capital BDC by 6.8% during the 3rd quarter. BlackRock Inc. now owns 1,180,309 shares of the investment management company’s stock worth $14,624,000 after purchasing an additional 75,354 shares during the period. Finally, Legal & General Group Plc grew its position in Golub Capital BDC by 4.6% during the 4th quarter. Legal & General Group Plc now owns 1,128,134 shares of the investment management company’s stock worth $14,841,000 after purchasing an additional 49,586 shares during the period. Hedge funds and other institutional investors own 40.82% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on the company. Wells Fargo & Company increased their price objective on Golub Capital BDC from $15.00 to $15.50 and gave the company an “equal weight” rating in a report on Monday, January 29th. Raymond James increased their price objective on Golub Capital BDC from $16.00 to $16.50 and gave the company an “outperform” rating in a report on Tuesday, January 23rd. Keefe, Bruyette & Woods raised their target price on Golub Capital BDC from $16.50 to $17.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 22nd. Finally, StockNews.com upgraded Golub Capital BDC from a “hold” rating to a “buy” rating in a research note on Wednesday, February 7th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.25.
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.
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