Bank of New York Mellon Corp Acquires New Shares in Golub Capital BDC, Inc. $GBDC

Key Points

• Bank of New York Mellon acquired 170,131 shares of Golub Capital BDC valued at approximately $2.19 million, while institutional investors collectively owned 42.38% of the company.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $13.90, despite some firms maintaining or upgrading the stock to “Hold.”
• Golub Capital BDC reported quarterly EPS of $0.34, exceeding estimates, and declared a $0.33 quarterly dividend, equivalent to a 10.2% annualized yield.

Bank of New York Mellon Corp bought a new stake in shares of Golub Capital BDC, Inc. (NASDAQ:GBDC - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 170,131 shares of the investment management company's stock, valued at approximately $2,191,000. Bank of New York Mellon Corp owned 0.07% of Golub Capital BDC at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Keel Point LLC increased its holdings in Golub Capital BDC by 2.7% in the second quarter. Keel Point LLC now owns 39,845 shares of the investment management company's stock valued at $584,000 after buying an additional 1,039 shares in the last quarter. Ironsides Asset Advisors LLC raised its position in shares of Golub Capital BDC by 7.6% in the fourth quarter. Ironsides Asset Advisors LLC now owns 15,755 shares of the investment management company's stock worth $214,000 after acquiring an additional 1,113 shares during the period. Levin Capital Strategies L.P. boosted its stake in shares of Golub Capital BDC by 12.9% during the 1st quarter. Levin Capital Strategies L.P. now owns 11,628 shares of the investment management company's stock worth $147,000 after acquiring an additional 1,328 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of Golub Capital BDC by 1.3% during the 4th quarter. Cetera Investment Advisers now owns 106,374 shares of the investment management company's stock worth $1,443,000 after acquiring an additional 1,361 shares in the last quarter. Finally, Mackenzie Financial Corp grew its position in shares of Golub Capital BDC by 3.8% during the 3rd quarter. Mackenzie Financial Corp now owns 42,767 shares of the investment management company's stock valued at $585,000 after acquiring an additional 1,557 shares during the period. Hedge funds and other institutional investors own 42.38% of the company's stock.

Analyst Ratings Changes

GBDC has been the subject of several recent analyst reports. Weiss Ratings restated a "hold (c)" rating on shares of Golub Capital BDC in a research note on Wednesday, June 24th. Keefe, Bruyette & Woods lowered their price target on Golub Capital BDC from $14.00 to $13.50 and set an "outperform" rating on the stock in a research report on Wednesday, August 5th. Zacks Research raised Golub Capital BDC from a "strong sell" rating to a "hold" rating in a report on Monday, July 6th. Finally, Wall Street Zen raised Golub Capital BDC from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $13.90.

Insider Transactions at Golub Capital BDC

In related news, Director Lawrence Golub sold 1,676,387 shares of the company's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $13.06, for a total transaction of $21,893,614.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.40% of the company's stock.

Golub Capital BDC Price Performance

NASDAQ GBDC opened at $13.00 on Tuesday. The business has a fifty day moving average price of $13.01 and a 200 day moving average price of $12.85. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.33 and a current ratio of 1.33. The company has a market cap of $3.38 billion, a P/E ratio of 20.00 and a beta of 0.39. Golub Capital BDC, Inc. has a one year low of $11.77 and a one year high of $14.85.

Golub Capital BDC (NASDAQ:GBDC - Get Free Report) last announced its earnings results on Monday, August 3rd. The investment management company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.01. Golub Capital BDC had a net margin of 21.45% and a return on equity of 9.91%. The company had revenue of $98.53 million for the quarter, compared to analysts' expectations of $189.91 million. During the same quarter in the previous year, the company posted $0.39 EPS. Research analysts anticipate that Golub Capital BDC, Inc. will post 1.36 EPS for the current fiscal year.

Golub Capital BDC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, September 14th will be given a dividend of $0.33 per share. The ex-dividend date is Monday, September 14th. This represents a $1.32 dividend on an annualized basis and a yield of 10.2%. Golub Capital BDC's payout ratio is presently 203.08%.

Golub Capital BDC Company Profile

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.

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