Barings Bdc, Inc. $BBDC Shares Newly Acquired by Bank of America Corp DE

Key Points

• Bank of America acquired 690,777 shares of Barings BDC during the second quarter, worth approximately $5.9 million and representing about 0.66% of the company. Other institutions also initiated positions, while institutional investors collectively own 44.09% of the stock.
• Barings BDC reported quarterly EPS of $0.28, beating estimates of $0.25, although revenue of $54.58 million fell short of the $60.10 million consensus forecast.
• The company paid a quarterly dividend of $0.26 per share, equivalent to a 12.0% annualized yield. Analysts maintain a consensus “Hold” rating, with an average price target of $9.75 versus the reported share price of $8.65.

Bank of America Corp DE purchased a new position in shares of Barings Bdc, Inc. (NYSE:BBDC - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 690,777 shares of the company's stock, valued at approximately $5,885,000. Bank of America Corp DE owned about 0.66% of Barings Bdc at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Legal & General Group Plc purchased a new position in shares of Barings Bdc during the 2nd quarter worth $7,483,000. Sanctuary Advisors LLC purchased a new position in Barings Bdc in the second quarter worth approximately $89,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Barings Bdc in the 2nd quarter valued at $28,000. Quantbot Technologies LP purchased a new position in shares of Barings Bdc during the 2nd quarter worth $35,000. Finally, De Lisle Partners LLP acquired a new stake in shares of Barings Bdc during the 2nd quarter worth about $130,000. Hedge funds and other institutional investors own 44.09% of the company's stock.

Barings Bdc Stock Down 0.2%

Shares of NYSE:BBDC opened at $8.65 on Monday. Barings Bdc, Inc. has a fifty-two week low of $7.96 and a fifty-two week high of $9.53. The firm's 50 day moving average price is $8.89 and its 200 day moving average price is $8.64. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.24. The stock has a market cap of $906.27 million, a price-to-earnings ratio of 10.43 and a beta of 0.60.

Barings Bdc (NYSE:BBDC - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.25 by $0.03. The company had revenue of $54.58 million during the quarter, compared to analysts' expectations of $60.10 million. Barings Bdc had a net margin of 32.73% and a return on equity of 10.07%. During the same quarter in the previous year, the business posted $0.28 EPS. As a group, equities research analysts predict that Barings Bdc, Inc. will post 1.04 earnings per share for the current fiscal year.

Barings Bdc Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 9th. Stockholders of record on Wednesday, September 2nd were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 12.0%. The ex-dividend date of this dividend was Wednesday, September 2nd. Barings Bdc's dividend payout ratio (DPR) is 125.30%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of Barings Bdc from $9.50 to $10.00 and gave the company an "overweight" rating in a report on Monday, August 10th. Weiss Ratings downgraded shares of Barings Bdc from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, September 16th. Finally, Zacks Research lowered Barings Bdc from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 22nd. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $9.75.

About Barings Bdc

Barings BDC, Inc is a business development company that provides financing to privately owned middle-market companies. The company primarily invests in senior secured loans, unitranche facilities, subordinated debt and, to a lesser extent, equity securities. Its investments are generally designed to support acquisitions, recapitalizations, growth initiatives, refinancings and other corporate activities.

Barings BDC focuses mainly on established companies with operations in the United States and across a range of industries.

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