Golub Capital BDC (NASDAQ:GBDC) Posts Earnings Results, Misses Expectations By $0.02 EPS

Golub Capital BDC (NASDAQ:GBDC - Get Free Report) issued its quarterly earnings results on Monday, May 4th. The investment management company reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.02), Zacks reports. The company had revenue of ($5.28) million during the quarter, compared to the consensus estimate of $201.71 million. Golub Capital BDC had a return on equity of 10.20% and a net margin of 24.64%.During the same quarter last year, the firm posted $0.30 EPS.

Golub Capital BDC Price Performance

Shares of GBDC traded down $0.07 during midday trading on Thursday, hitting $12.97. The company's stock had a trading volume of 512,558 shares, compared to its average volume of 2,338,289. Golub Capital BDC has a one year low of $11.77 and a one year high of $15.63. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 1.25. The company's fifty day simple moving average is $12.87 and its two-hundred day simple moving average is $13.21. The stock has a market capitalization of $3.38 billion, a price-to-earnings ratio of 16.84 and a beta of 0.41.

Golub Capital BDC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.33 per share. The ex-dividend date is Monday, June 15th. This represents a $1.32 annualized dividend and a yield of 10.2%. Golub Capital BDC's dividend payout ratio is presently 171.43%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GBDC. Keefe, Bruyette & Woods cut their price objective on shares of Golub Capital BDC from $15.00 to $14.00 and set an "outperform" rating on the stock in a research note on Friday, February 6th. Zacks Research cut Golub Capital BDC from a "hold" rating to a "strong sell" rating in a research note on Thursday, May 7th. Wall Street Zen lowered shares of Golub Capital BDC from a "hold" rating to a "sell" rating in a research note on Sunday, April 19th. Oppenheimer restated an "outperform" rating and issued a $14.00 price target on shares of Golub Capital BDC in a research report on Wednesday, May 6th. Finally, Wells Fargo & Company lowered their price target on shares of Golub Capital BDC from $14.00 to $13.00 and set an "overweight" rating on the stock in a report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $14.00.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GBDC. Royal Bank of Canada boosted its stake in shares of Golub Capital BDC by 41.4% during the first quarter. Royal Bank of Canada now owns 131,544 shares of the investment management company's stock valued at $1,991,000 after purchasing an additional 38,534 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in Golub Capital BDC by 19.7% during the 1st quarter. NewEdge Advisors LLC now owns 43,534 shares of the investment management company's stock worth $659,000 after buying an additional 7,178 shares during the period. Empowered Funds LLC grew its position in shares of Golub Capital BDC by 140.0% in the 1st quarter. Empowered Funds LLC now owns 27,411 shares of the investment management company's stock valued at $415,000 after buying an additional 15,988 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new stake in Golub Capital BDC during the 1st quarter worth about $6,491,000. Finally, Focus Partners Wealth increased its holdings in Golub Capital BDC by 24.9% during the first quarter. Focus Partners Wealth now owns 33,355 shares of the investment management company's stock worth $505,000 after buying an additional 6,658 shares during the last quarter. 42.38% of the stock is currently owned by institutional investors.

About Golub Capital BDC

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.