Confluence Investment Management LLC Acquires 4,835 Shares of Golub Capital BDC, Inc. (NASDAQ:GBDC)

Confluence Investment Management LLC grew its holdings in Golub Capital BDC, Inc. (NASDAQ:GBDC) by 1.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 336,119 shares of the investment management company’s stock after purchasing an additional 4,835 shares during the quarter. Confluence Investment Management LLC owned approximately 0.20% of Golub Capital BDC worth $5,280,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of GBDC. Private Trust Co. NA raised its holdings in shares of Golub Capital BDC by 1,005.0% in the 4th quarter. Private Trust Co. NA now owns 2,199 shares of the investment management company’s stock valued at $33,000 after purchasing an additional 2,000 shares in the last quarter. Future Financial Wealth Managment LLC bought a new stake in shares of Golub Capital BDC in the 1st quarter valued at about $38,000. Nomura Asset Management Co. Ltd. raised its holdings in shares of Golub Capital BDC by 77.1% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 3,463 shares of the investment management company’s stock valued at $52,000 after purchasing an additional 1,508 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Golub Capital BDC by 39.1% in the 1st quarter. BNP Paribas Financial Markets now owns 6,898 shares of the investment management company’s stock valued at $115,000 after purchasing an additional 1,940 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC purchased a new position in shares of Golub Capital BDC in the 4th quarter worth approximately $151,000. Institutional investors own 42.38% of the company’s stock.

Golub Capital BDC Stock Performance

NASDAQ:GBDC traded down $0.41 during trading hours on Friday, hitting $14.73. 2,522,708 shares of the company were exchanged, compared to its average volume of 1,178,915. The stock has a market capitalization of $2.53 billion, a price-to-earnings ratio of 7.26 and a beta of 0.52. Golub Capital BDC, Inc. has a 52-week low of $13.78 and a 52-week high of $17.72. The company has a debt-to-equity ratio of 1.26, a current ratio of 6.29 and a quick ratio of 6.29. The company’s 50 day moving average price is $15.76 and its 200-day moving average price is $16.01.

Golub Capital BDC (NASDAQ:GBDC) last released its earnings results on Monday, May 6th. The investment management company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). The company had revenue of $164.23 million for the quarter, compared to analysts’ expectations of $163.61 million. Golub Capital BDC had a return on equity of 13.03% and a net margin of 53.05%. As a group, research analysts forecast that Golub Capital BDC, Inc. will post 1.95 earnings per share for the current year.

Golub Capital BDC Dividend Announcement

The firm also recently disclosed a None dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 16th will be issued a $0.05 dividend. The ex-dividend date is Friday, August 16th. Golub Capital BDC’s dividend payout ratio (DPR) is currently 76.85%.

Insider Activity

In other Golub Capital BDC news, CEO David Golub acquired 450,000 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were acquired at an average cost of $16.03 per share, with a total value of $7,213,500.00. Following the acquisition, the chief executive officer now directly owns 1,718,880 shares of the company’s stock, valued at $27,553,646.40. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Golub Capital BDC news, CEO David Golub acquired 450,000 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were acquired at an average cost of $16.03 per share, with a total value of $7,213,500.00. Following the acquisition, the chief executive officer now directly owns 1,718,880 shares of the company’s stock, valued at $27,553,646.40. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Lawrence E. Golub bought 88,748 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was purchased at an average price of $16.03 per share, with a total value of $1,422,630.44. Following the completion of the purchase, the chairman now owns 1,357,628 shares in the company, valued at $21,762,776.84. The disclosure for this purchase can be found here. Insiders have acquired 601,015 shares of company stock valued at $9,636,138 in the last ninety days. Insiders own 2.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GBDC. Wells Fargo & Company cut their price objective on shares of Golub Capital BDC from $17.00 to $15.50 and set an “equal weight” rating on the stock in a research report on Friday, July 26th. Raymond James downgraded shares of Golub Capital BDC from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 8th. Finally, StockNews.com downgraded shares of Golub Capital BDC from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Golub Capital BDC has an average rating of “Moderate Buy” and a consensus target price of $16.40.

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.