Bank of America Corp DE Purchases 966,016 Shares of Kayne Anderson BDC, Inc. (NYSE:KBDC)

Bank of America Corp DE lifted its position in Kayne Anderson BDC, Inc. (NYSE:KBDC - Free Report) by 4,201.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 989,008 shares of the company's stock after buying an additional 966,016 shares during the period. Bank of America Corp DE owned approximately 1.39% of Kayne Anderson BDC worth $16,358,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Requisite Capital Management LLC acquired a new position in Kayne Anderson BDC during the fourth quarter valued at $5,589,000. Corient Private Wealth LLC purchased a new position in shares of Kayne Anderson BDC during the 4th quarter valued at about $4,205,000. Sage Mountain Advisors LLC acquired a new position in shares of Kayne Anderson BDC in the 4th quarter valued at about $3,359,000. Renaissance Technologies LLC boosted its stake in shares of Kayne Anderson BDC by 584.4% in the fourth quarter. Renaissance Technologies LLC now owns 145,100 shares of the company's stock worth $2,400,000 after buying an additional 123,900 shares during the last quarter. Finally, HB Wealth Management LLC acquired a new position in shares of Kayne Anderson BDC in the 4th quarter valued at $1,591,000.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on KBDC shares. UBS Group cut their target price on shares of Kayne Anderson BDC from $16.50 to $16.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. Royal Bank of Canada restated an "outperform" rating and issued a $17.00 target price on shares of Kayne Anderson BDC in a research report on Monday. Wells Fargo & Company dropped their price target on Kayne Anderson BDC from $17.00 to $16.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Finally, Keefe, Bruyette & Woods reduced their price objective on Kayne Anderson BDC from $17.00 to $16.50 and set a "market perform" rating for the company in a research note on Tuesday, April 8th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $16.60.

Kayne Anderson BDC Stock Down 0.1%

Shares of NYSE:KBDC opened at $16.31 on Wednesday. Kayne Anderson BDC, Inc. has a fifty-two week low of $13.93 and a fifty-two week high of $17.99. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.66. The firm's 50-day simple moving average is $15.99 and its 200-day simple moving average is $16.52. The company has a market cap of $1.16 billion and a price-to-earnings ratio of 9.06.

Kayne Anderson BDC (NYSE:KBDC - Get Free Report) last released its earnings results on Monday, May 12th. The company reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.42 by ($0.02). The business had revenue of $55.25 million during the quarter, compared to analyst estimates of $58.43 million. Kayne Anderson BDC had a net margin of 59.80% and a return on equity of 12.65%. As a group, equities research analysts predict that Kayne Anderson BDC, Inc. will post 2.06 earnings per share for the current year.

Kayne Anderson BDC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 16th. Investors of record on Monday, June 30th will be given a dividend of $0.40 per share. The ex-dividend date is Monday, June 30th. This represents a $1.60 annualized dividend and a yield of 9.81%. Kayne Anderson BDC's dividend payout ratio (DPR) is presently 88.89%.

Kayne Anderson BDC Company Profile

Kayne Anderson BDC Inc is a business development company which invests primarily in first lien senior secured loans, with a secondary focus on unitranche and split-lien loans to middle market companies. Kayne Anderson BDC Inc is based in CHICAGO.

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