Golub Capital BDC (NASDAQ:GBDC) Releases Quarterly Earnings Results, Meets Expectations

Golub Capital BDC (NASDAQ:GBDC) posted its earnings results on Wednesday. The investment management company reported $0.38 EPS for the quarter, hitting analysts’ consensus estimates of $0.38, Zacks reports. Golub Capital BDC had a return on equity of 10.40% and a net margin of 43.25%.The company had revenue of $110.18 million for the quarter, compared to the consensus estimate of $208.89 million. During the same period in the previous year, the business earned $0.42 earnings per share.

Golub Capital BDC Price Performance

GBDC traded down $0.68 during trading on Thursday, hitting $12.38. 7,090,329 shares of the stock traded hands, compared to its average volume of 2,300,802. The business has a 50 day moving average price of $13.70 and a 200 day moving average price of $14.09. The company has a market cap of $3.26 billion, a price-to-earnings ratio of 8.72 and a beta of 0.43. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.90 and a quick ratio of 1.90. Golub Capital BDC has a twelve month low of $12.28 and a twelve month high of $16.00.

Golub Capital BDC Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Friday, March 13th will be given a $0.33 dividend. The ex-dividend date is Friday, March 13th. This represents a $1.32 annualized dividend and a dividend yield of 10.7%. Golub Capital BDC’s payout ratio is presently 109.86%.

Wall Street Analysts Forecast Growth

GBDC has been the topic of several analyst reports. Wall Street Zen upgraded shares of Golub Capital BDC from a “sell” rating to a “hold” rating in a research report on Saturday, December 13th. Lucid Cap Mkts raised shares of Golub Capital BDC to a “strong-buy” rating in a research report on Thursday, January 15th. Keefe, Bruyette & Woods reduced their price target on Golub Capital BDC from $15.50 to $15.00 and set an “outperform” rating for the company in a report on Friday, November 21st. Capital One Financial set a $15.00 target price on Golub Capital BDC in a research report on Thursday, January 15th. Finally, Wells Fargo & Company raised shares of Golub Capital BDC from an “equal weight” rating to an “overweight” rating and set a $14.00 price target for the company in a research report on Wednesday, January 7th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $14.88.

Institutional Investors Weigh In On Golub Capital BDC

Several institutional investors and hedge funds have recently made changes to their positions in GBDC. Bank of America Corp DE increased its holdings in Golub Capital BDC by 5.7% during the third quarter. Bank of America Corp DE now owns 3,829,788 shares of the investment management company’s stock valued at $52,430,000 after buying an additional 207,998 shares during the last quarter. Bank of Montreal Can raised its holdings in Golub Capital BDC by 27.9% during the third quarter. Bank of Montreal Can now owns 929,127 shares of the investment management company’s stock valued at $12,720,000 after acquiring an additional 202,940 shares during the period. Raymond James Financial Inc. boosted its stake in shares of Golub Capital BDC by 107.1% in the third quarter. Raymond James Financial Inc. now owns 789,968 shares of the investment management company’s stock worth $10,815,000 after acquiring an additional 408,510 shares during the period. Pathstone Holdings LLC boosted its stake in Golub Capital BDC by 93.8% in the 3rd quarter. Pathstone Holdings LLC now owns 649,283 shares of the investment management company’s stock worth $8,889,000 after purchasing an additional 314,230 shares during the period. Finally, Lido Advisors LLC grew its holdings in Golub Capital BDC by 25.0% during the 3rd quarter. Lido Advisors LLC now owns 566,033 shares of the investment management company’s stock valued at $7,749,000 after buying an additional 113,298 shares in the last quarter. Institutional investors own 42.38% of the company’s stock.

About Golub Capital BDC

Golub Capital BDC (NASDAQ: GBDC) is a publicly traded business development company specializing in providing debt and equity financing solutions to middle-market companies in the United States. Externally managed by Golub Capital LLC, the firm focuses on building a diversified portfolio of senior secured loans, unitranche facilities and second-lien debt instruments designed to support growth, acquisitions and recapitalizations. As a closed-end investment vehicle, GBDC offers investors direct exposure to private credit strategies within a regulated structure.

The company’s core business activities center on originating and managing bespoke financing arrangements for U.S.