Confluence Investment Management LLC Acquires 2,345 Shares of Golub Capital BDC, Inc. (NASDAQ:GBDC)

Confluence Investment Management LLC lifted its holdings in Golub Capital BDC, Inc. (NASDAQ:GBDC) by 0.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 349,833 shares of the investment management company’s stock after acquiring an additional 2,345 shares during the period. Confluence Investment Management LLC owned 0.13% of Golub Capital BDC worth $5,296,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Blue Trust Inc. raised its position in Golub Capital BDC by 413.1% during the fourth quarter. Blue Trust Inc. now owns 2,386 shares of the investment management company’s stock valued at $36,000 after purchasing an additional 1,921 shares during the period. Parkside Financial Bank & Trust raised its stake in shares of Golub Capital BDC by 36.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 3,116 shares of the investment management company’s stock valued at $47,000 after acquiring an additional 827 shares during the period. Optiver Holding B.V. lifted its holdings in shares of Golub Capital BDC by 28.7% in the 4th quarter. Optiver Holding B.V. now owns 3,087 shares of the investment management company’s stock worth $47,000 after acquiring an additional 688 shares during the last quarter. Hurley Capital LLC purchased a new position in shares of Golub Capital BDC during the 4th quarter worth about $50,000. Finally, Empowered Funds LLC bought a new position in Golub Capital BDC during the 4th quarter valued at about $173,000. Institutional investors own 42.38% of the company’s stock.

Insider Buying and Selling

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 stock was bought at an average price of $15.13 per share, with a total value of $91,687,361.23. Following the completion of the purchase, the chairman now directly owns 6,059,971 shares of the company’s stock, valued at approximately $91,687,361.23. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. 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 decreased their price target on Golub Capital BDC from $16.50 to $15.50 and set an “outperform” rating for the company in a research note on Tuesday, April 8th. Wells Fargo & Company cut their price objective on Golub Capital BDC from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Monday, April 28th. Finally, Bank of America decreased their target price on Golub Capital BDC from $16.50 to $15.50 and set a “buy” rating for the company in a research report on Monday, May 12th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Golub Capital BDC currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.50.

Golub Capital BDC Stock Up 0.7%

Shares of NASDAQ GBDC opened at $15.28 on Friday. Golub Capital BDC, Inc. has a 52-week low of $12.68 and a 52-week high of $16.76. The firm has a market capitalization of $4.07 billion, a price-to-earnings ratio of 11.07 and a beta of 0.55. The stock has a 50 day moving average price of $14.48 and a 200 day moving average price of $15.04. The company has a debt-to-equity ratio of 1.22, a quick ratio of 2.94 and a current ratio of 2.94.

Golub Capital BDC (NASDAQ:GBDC) last issued its earnings results on Monday, May 5th. The investment management company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.02). Golub Capital BDC had a return on equity of 11.18% and a net margin of 39.63%. The firm had revenue of $211.10 million during the quarter, compared to analysts’ expectations of $223.89 million. During the same quarter in the prior year, the company posted $0.55 earnings per share. Sell-side analysts expect that Golub Capital BDC, Inc. will post 1.6 earnings per share for the current year.

Golub Capital BDC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 10.21%. The ex-dividend date of this dividend is Friday, June 13th. Golub Capital BDC’s dividend payout ratio (DPR) is presently 138.05%.

About Golub Capital BDC

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.