Ethos Financial Group LLC Acquires Shares of 26,348 Golub Capital BDC, Inc. $GBDC

Key Points

• Ethos Financial Group LLC acquired a new position in Golub Capital BDC, purchasing 26,348 shares valued at approximately $399,000 during the 1st quarter.
• The company's shares have been subject to mixed analyst ratings, with Wall Street Zen upgrading them from "sell" to "hold," while Wells Fargo and Bank of America adjusted their price targets downward.
• Golub Capital BDC announced a quarterly dividend of $0.39 per share, which translates to an annual yield of 10.6%, despite a dividend payout ratio of over 109%.

Ethos Financial Group LLC acquired a new position in Golub Capital BDC, Inc. (NASDAQ:GBDC - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 26,348 shares of the investment management company's stock, valued at approximately $399,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Onyx Bridge Wealth Group LLC lifted its stake in shares of Golub Capital BDC by 65.0% in the first quarter. Onyx Bridge Wealth Group LLC now owns 113,646 shares of the investment management company's stock worth $1,721,000 after acquiring an additional 44,760 shares during the period. Sigma Investment Counselors Inc. acquired a new position in Golub Capital BDC in the first quarter valued at approximately $10,935,000. Oppenheimer & Co. Inc. lifted its stake in Golub Capital BDC by 98.6% in the first quarter. Oppenheimer & Co. Inc. now owns 39,271 shares of the investment management company's stock valued at $595,000 after buying an additional 19,496 shares during the period. BNP Paribas Financial Markets lifted its stake in Golub Capital BDC by 60.6% in the fourth quarter. BNP Paribas Financial Markets now owns 138,198 shares of the investment management company's stock valued at $2,095,000 after buying an additional 52,155 shares during the period. Finally, Cornerstone Wealth Management LLC lifted its stake in Golub Capital BDC by 24.1% in the first quarter. Cornerstone Wealth Management LLC now owns 13,092 shares of the investment management company's stock valued at $198,000 after buying an additional 2,541 shares during the period. 42.38% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Golub Capital BDC

In related news, Chairman Lawrence E. Golub purchased 6,059,971 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was acquired at an average price of $15.13 per share, for a total transaction of $91,687,361.23. Following the completion of the acquisition, the chairman owned 6,059,971 shares of the company's stock, valued at $91,687,361.23. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GBDC. Wells Fargo & Company dropped their price target on Golub Capital BDC from $15.00 to $14.00 and set an "equal weight" rating on the stock in a research note on Monday, April 28th. Bank of America dropped their price target on Golub Capital BDC from $16.50 to $15.50 and set a "buy" rating on the stock 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 Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, Golub Capital BDC currently has a consensus rating of "Moderate Buy" and an average target price of $15.00.

Golub Capital BDC Stock Up 1.1%

Shares of NASDAQ:GBDC traded up $0.16 during trading on Friday, reaching $14.78. 1,274,296 shares of the stock were exchanged, compared to its average volume of 1,046,973. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.37 and a quick ratio of 2.37. Golub Capital BDC, Inc. has a 1-year low of $12.68 and a 1-year high of $16.00. The stock has a fifty day moving average of $14.86 and a two-hundred day moving average of $14.86. The firm has a market cap of $3.94 billion, a price-to-earnings ratio of 10.41 and a beta of 0.51.

Golub Capital BDC (NASDAQ:GBDC - Get Free Report) last issued its earnings results on Monday, August 4th. The investment management company reported $0.39 earnings per share for the quarter, topping analysts' consensus estimates of $0.38 by $0.01. Golub Capital BDC had a return on equity of 10.87% and a net margin of 42.81%.The company had revenue of $218.34 million for the quarter, compared to analyst estimates of $215.47 million. During the same period in the prior year, the firm earned $0.39 earnings per share. Research analysts anticipate that Golub Capital BDC, Inc. will post 1.6 earnings per share for the current fiscal year.

Golub Capital BDC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 10.6%. The ex-dividend date of this dividend is Monday, September 15th. Golub Capital BDC's dividend payout ratio is presently 109.86%.

Golub Capital BDC 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.