Sumitomo Mitsui Trust Group Inc. Raises Position in Golub Capital BDC, Inc. (NASDAQ:GBDC)

Sumitomo Mitsui Trust Group Inc. increased its holdings in Golub Capital BDC, Inc. (NASDAQ:GBDC) by 29.8% during the first quarter, Holdings Channel.com reports. The firm owned 922,333 shares of the investment management company’s stock after acquiring an additional 211,979 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Golub Capital BDC were worth $13,964,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. BNP Paribas Financial Markets increased its position in shares of 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 acquiring an additional 52,155 shares during the period. Kingswood Wealth Advisors LLC increased its position in shares of Golub Capital BDC by 39.9% in the first quarter. Kingswood Wealth Advisors LLC now owns 34,591 shares of the investment management company’s stock valued at $526,000 after acquiring an additional 9,858 shares during the period. Cornerstone Wealth Management LLC increased its position in shares of 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 acquiring an additional 2,541 shares during the period. Oppenheimer & Co. Inc. increased its position in shares of 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 acquiring an additional 19,496 shares during the period. Finally, Focus Partners Wealth purchased a new position in shares of Golub Capital BDC in the fourth quarter valued at about $405,000. Hedge funds and other institutional investors own 42.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Bank of America decreased their price objective on shares of Golub Capital BDC from $16.50 to $15.50 and set a “buy” rating on the stock in a research report on Monday, May 12th. Wall Street Zen raised shares of Golub Capital BDC from a “sell” rating to a “hold” rating in a research note on Tuesday, May 6th. Keefe, Bruyette & Woods cut their target price on shares of Golub Capital BDC from $16.50 to $15.50 and set an “outperform” rating on the stock in a research note on Tuesday, April 8th. Finally, Wells Fargo & Company cut their target price on shares of 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. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.50.

Golub Capital BDC Trading Up 0.7%

Shares of GBDC opened at $14.78 on Friday. The firm’s 50-day moving average price is $14.74 and its 200-day moving average price is $14.94. The firm has a market capitalization of $3.94 billion, a price-to-earnings ratio of 13.08 and a beta of 0.51. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 1.19. Golub Capital BDC, Inc. has a 1-year low of $12.68 and a 1-year high of $16.08.

Golub Capital BDC (NASDAQ:GBDC) last announced its earnings results on Monday, May 5th. The investment management company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). The company had revenue of $211.10 million for the quarter, compared to the consensus estimate of $223.89 million. Golub Capital BDC had a net margin of 35.50% and a return on equity of 10.59%. During the same period in the previous year, the firm posted $0.55 EPS. Sell-side analysts anticipate that Golub Capital BDC, Inc. will post 1.6 EPS for the current year.

Golub Capital BDC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 10.56%. The ex-dividend date was Friday, June 13th. Golub Capital BDC’s dividend payout ratio (DPR) is presently 138.05%.

Insiders Place Their Bets

In other Golub Capital BDC news, Chairman Lawrence E. Golub acquired 6,059,971 shares of the business’s stock in a transaction on Tuesday, May 27th. The shares were 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 in the company, valued at $91,687,361.23. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company 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.