Golub Capital BDC (NASDAQ:GBDC) Releases Quarterly Earnings Results, Hits Expectations

Golub Capital BDC (NASDAQ:GBDC) posted its quarterly earnings data on Wednesday. The investment management company reported $0.38 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.38, Zacks reports. Golub Capital BDC had a return on equity of 10.40% and a net margin of 43.25%.The business had revenue of $110.18 million during the quarter, compared to the consensus estimate of $208.89 million. During the same period in the prior year, the business posted $0.42 earnings per share.

Golub Capital BDC Stock Performance

Shares of GBDC stock traded up $0.27 during trading on Wednesday, reaching $13.06. The company had a trading volume of 4,590,419 shares, compared to its average volume of 2,092,536. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.90 and a quick ratio of 1.90. The firm’s 50 day simple moving average is $13.72 and its two-hundred day simple moving average is $14.10. The company has a market capitalization of $3.44 billion, a PE ratio of 9.20 and a beta of 0.43. Golub Capital BDC has a one year low of $12.67 and a one year high of $16.00.

Golub Capital BDC Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Investors of record on Friday, December 12th were paid a $0.39 dividend. The ex-dividend date of this dividend was Friday, December 12th. This represents a $1.56 annualized dividend and a dividend yield of 11.9%. Golub Capital BDC’s payout ratio is presently 109.86%.

Analyst Ratings Changes

Several research firms recently weighed in on GBDC. Wall Street Zen upgraded Golub Capital BDC from a “sell” rating to a “hold” rating in a research report on Saturday, December 13th. Lucid Cap Mkts raised shares of Golub Capital BDC to a “strong-buy” rating in a report on Thursday, January 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Golub Capital BDC in a research report on Monday, December 29th. Capital One Financial set a $15.00 price objective on shares of Golub Capital BDC in a research report on Thursday, January 15th. Finally, Wells Fargo & Company upgraded shares of Golub Capital BDC from an “equal weight” rating to an “overweight” rating and set a $14.00 target price for the company in a research note on Wednesday, January 7th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Golub Capital BDC has a consensus rating of “Buy” and an average target price of $14.88.

Institutional Trading of Golub Capital BDC

A number of institutional investors have recently modified their holdings of GBDC. Mackenzie Financial Corp increased its position in Golub Capital BDC by 3.8% in the 3rd quarter. Mackenzie Financial Corp now owns 42,767 shares of the investment management company’s stock valued at $585,000 after buying an additional 1,557 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new position in shares of Golub Capital BDC during the 3rd quarter valued at $532,000. Focus Partners Wealth raised its stake in shares of Golub Capital BDC by 155.6% during the 3rd quarter. Focus Partners Wealth now owns 34,609 shares of the investment management company’s stock valued at $474,000 after purchasing an additional 21,071 shares during the period. Squarepoint Ops LLC boosted its holdings in shares of Golub Capital BDC by 21.1% in the 3rd quarter. Squarepoint Ops LLC now owns 25,372 shares of the investment management company’s stock worth $347,000 after purchasing an additional 4,418 shares in the last quarter. Finally, Private Advisor Group LLC boosted its position in Golub Capital BDC by 10.1% during the 3rd quarter. Private Advisor Group LLC now owns 21,484 shares of the investment management company’s stock valued at $294,000 after buying an additional 1,970 shares during the period. 42.38% of the stock is currently owned by institutional investors.

Golub Capital BDC Company Profile

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.