Bank of New York Mellon Corp Purchases 34,105 Shares of Golub Capital BDC, Inc. (NASDAQ:GBDC)

Key Points

• Bank of New York Mellon Corp increased its stake in Golub Capital BDC by 29.7%, owning 148,775 shares valued at approximately $2.25 million as of the end of the first quarter.
• Several institutional investors significantly augmented their holdings, with Blue Trust Inc. boosting its investment by 794.3%, now owning shares worth $91,000.
• Golub Capital BDC recently declared a quarterly dividend of $0.39 per share, yielding about 10.33%, although its dividend payout ratio stands at 138.05%.

Bank of New York Mellon Corp grew its holdings in Golub Capital BDC, Inc. (NASDAQ:GBDC - Free Report) by 29.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 148,775 shares of the investment management company's stock after buying an additional 34,105 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.06% of Golub Capital BDC worth $2,252,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GBDC. Castlekeep Investment Advisors LLC acquired a new stake in shares of Golub Capital BDC in the fourth quarter valued at $19,145,000. Millennium Management LLC increased its stake in shares of Golub Capital BDC by 168.0% in the fourth quarter. Millennium Management LLC now owns 1,909,304 shares of the investment management company's stock valued at $28,945,000 after buying an additional 1,196,800 shares in the last quarter. Bank of America Corp DE increased its position in Golub Capital BDC by 77.8% in the fourth quarter. Bank of America Corp DE now owns 2,213,622 shares of the investment management company's stock worth $33,559,000 after purchasing an additional 968,525 shares during the period. OneAscent Financial Services LLC acquired a new stake in Golub Capital BDC in the fourth quarter worth about $6,075,000. Finally, Raymond James Financial Inc. acquired a new stake in Golub Capital BDC in the fourth quarter worth about $4,470,000. 42.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on GBDC. Wells Fargo & Company reduced their target price on Golub Capital BDC from $15.00 to $14.00 and set an "equal weight" rating on the stock in a report on Monday, April 28th. Keefe, Bruyette & Woods reduced their target price on Golub Capital BDC from $16.50 to $15.50 and set an "outperform" rating on the stock in a report on Tuesday, April 8th. Bank of America lowered their target price on Golub Capital BDC from $16.50 to $15.50 and set a "buy" rating for the company in a research note on Monday, May 12th. Finally, Wall Street Zen raised Golub Capital BDC from a "sell" rating to a "hold" rating in a research note on Tuesday, May 6th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Golub Capital BDC has an average rating of "Moderate Buy" and an average price target of $15.50.

Golub Capital BDC Stock Performance

NASDAQ GBDC traded down $0.13 on Friday, reaching $14.83. The stock had a trading volume of 438,698 shares, compared to its average volume of 1,449,857. The company has a debt-to-equity ratio of 1.19, a current ratio of 3.01 and a quick ratio of 3.01. The firm has a fifty day moving average of $14.96 and a two-hundred day moving average of $14.94. Golub Capital BDC, Inc. has a 1-year low of $12.68 and a 1-year high of $16.00. The company has a market cap of $3.95 billion, a P/E ratio of 13.12 and a beta of 0.51.

Golub Capital BDC (NASDAQ:GBDC - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The investment management company reported $0.39 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.02). Golub Capital BDC had a net margin of 35.50% and a return on equity of 10.59%. The firm had revenue of $211.10 million during the quarter, compared to analyst estimates of $223.89 million. During the same period in the prior year, the company earned $0.55 earnings per share. On average, equities research analysts anticipate that Golub Capital BDC, Inc. will post 1.6 EPS for the current year.

Insider Buying and Selling at Golub Capital BDC

In other Golub Capital BDC news, Chairman Lawrence E. Golub acquired 6,059,971 shares of Golub Capital BDC stock in a transaction that occurred on Tuesday, May 27th. The shares were acquired at an average cost of $15.13 per share, with a total value of $91,687,361.23. Following the completion of the purchase, the chairman directly owned 6,059,971 shares of the company's stock, valued at $91,687,361.23. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 3.60% of the company's stock.

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.