Bank of America Corp DE Cuts Stock Position in Barings BDC, Inc. (NYSE:BBDC)

Bank of America Corp DE lowered its stake in Barings BDC, Inc. (NYSE:BBDC - Free Report) by 9.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 532,492 shares of the company's stock after selling 54,681 shares during the quarter. Bank of America Corp DE owned about 0.50% of Barings BDC worth $5,096,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its stake in Barings BDC by 393.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,582 shares of the company's stock valued at $25,000 after purchasing an additional 2,059 shares during the period. Kingswood Wealth Advisors LLC purchased a new position in shares of Barings BDC in the 4th quarter worth approximately $314,000. Chicago Partners Investment Group LLC boosted its holdings in Barings BDC by 56.0% during the 4th quarter. Chicago Partners Investment Group LLC now owns 23,101 shares of the company's stock valued at $216,000 after acquiring an additional 8,293 shares during the period. Private Management Group Inc. boosted its holdings in Barings BDC by 2.8% during the 4th quarter. Private Management Group Inc. now owns 3,084,236 shares of the company's stock valued at $29,516,000 after acquiring an additional 83,408 shares during the period. Finally, Financial Advocates Investment Management boosted its holdings in Barings BDC by 38.8% during the 4th quarter. Financial Advocates Investment Management now owns 18,854 shares of the company's stock valued at $180,000 after acquiring an additional 5,274 shares during the period. Institutional investors own 44.09% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BBDC. Keefe, Bruyette & Woods decreased their target price on Barings BDC from $10.50 to $9.50 and set a "market perform" rating for the company in a research report on Tuesday, April 8th. Bank of America lowered their price target on Barings BDC from $11.00 to $10.00 and set a "buy" rating for the company in a report on Monday, May 19th. Finally, Wells Fargo & Company raised shares of Barings BDC from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $8.50 to $9.50 in a report on Wednesday.

Insiders Place Their Bets

In related news, CEO Eric J. Lloyd purchased 34,375 shares of Barings BDC stock in a transaction dated Monday, May 19th. The shares were acquired at an average price of $9.12 per share, for a total transaction of $313,500.00. Following the acquisition, the chief executive officer now directly owns 73,569 shares in the company, valued at approximately $670,949.28. The trade was a 87.70% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Matthew Freund acquired 3,522 shares of Barings BDC stock in a transaction that occurred on Monday, May 19th. The stock was bought at an average price of $9.07 per share, for a total transaction of $31,944.54. Following the completion of the acquisition, the president now owns 20,002 shares in the company, valued at $181,418.14. This trade represents a 21.37% increase in their position. The disclosure for this purchase can be found here. 0.52% of the stock is currently owned by corporate insiders.

Barings BDC Stock Performance

Shares of NYSE BBDC traded up $0.01 during midday trading on Friday, reaching $9.31. 481,495 shares of the stock were exchanged, compared to its average volume of 458,603. The firm has a market cap of $981.36 million, a price-to-earnings ratio of 8.95 and a beta of 0.73. Barings BDC, Inc. has a twelve month low of $7.66 and a twelve month high of $10.85. The firm has a 50-day simple moving average of $8.85 and a two-hundred day simple moving average of $9.50. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.37.

Barings BDC (NYSE:BBDC - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.25 EPS for the quarter, missing analysts' consensus estimates of $0.28 by ($0.03). Barings BDC had a return on equity of 10.94% and a net margin of 38.54%. The firm had revenue of $64.44 million for the quarter, compared to analyst estimates of $67.78 million. During the same period in the previous year, the business earned $0.28 EPS. Barings BDC's revenue for the quarter was down 7.7% compared to the same quarter last year. As a group, analysts anticipate that Barings BDC, Inc. will post 1.13 EPS for the current fiscal year.

Barings BDC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Investors of record on Wednesday, June 4th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 11.17%. Barings BDC's dividend payout ratio is currently 110.64%.

Barings BDC Company Profile

Barings BDC, Inc is a publicly traded, externally managed investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. It seeks to invest primarily in senior secured loans, first lien debt, unitranche, second lien debt, subordinated debt, equity co-investments and senior secured private debt investments in private middle-market companies that operate across a wide range of industries.