Bank Of America (Bofa) Initiates Coverage on Goldman Sachs BDC (NYSE:GSBD)

Bank Of America (Bofa) initiated coverage on shares of Goldman Sachs BDC (NYSE:GSBDGet Rating) in a report published on Monday, The Fly reports. The firm issued a neutral rating on the financial services provider’s stock.

Separately, Wells Fargo & Company lifted their price objective on shares of Goldman Sachs BDC from $16.50 to $17.00 and gave the stock an equal weight rating in a research note on Monday, August 8th. Four investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $17.17.

Goldman Sachs BDC Stock Performance

Shares of GSBD opened at $16.31 on Monday. The firm’s 50 day moving average is $17.16 and its 200-day moving average is $18.03. The stock has a market capitalization of $1.67 billion, a P/E ratio of 12.36 and a beta of 1.19. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.11 and a quick ratio of 1.11. Goldman Sachs BDC has a 12-month low of $15.87 and a 12-month high of $20.60.

Goldman Sachs BDC (NYSE:GSBDGet Rating) last announced its quarterly earnings data on Thursday, August 4th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.01). The business had revenue of $77.45 million during the quarter, compared to analyst estimates of $84.05 million. Goldman Sachs BDC had a return on equity of 13.27% and a net margin of 40.40%. Equities research analysts anticipate that Goldman Sachs BDC will post 1.91 EPS for the current fiscal year.

Goldman Sachs BDC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 27th. Stockholders of record on Friday, September 30th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 11.04%. The ex-dividend date of this dividend is Thursday, September 29th. Goldman Sachs BDC’s dividend payout ratio (DPR) is currently 136.36%.

Institutional Trading of Goldman Sachs BDC

Institutional investors have recently made changes to their positions in the stock. Autumn Glory Partners LLC acquired a new stake in shares of Goldman Sachs BDC during the fourth quarter worth approximately $853,000. Optimum Investment Advisors boosted its holdings in shares of Goldman Sachs BDC by 22.3% during the fourth quarter. Optimum Investment Advisors now owns 7,926 shares of the financial services provider’s stock worth $152,000 after purchasing an additional 1,445 shares during the period. Cornerstone Advisory LLC acquired a new stake in shares of Goldman Sachs BDC during the fourth quarter worth approximately $28,000. HB Wealth Management LLC acquired a new stake in shares of Goldman Sachs BDC during the fourth quarter worth approximately $2,173,000. Finally, Legacy Capital Wealth Partners LLC boosted its holdings in shares of Goldman Sachs BDC by 4.5% during the fourth quarter. Legacy Capital Wealth Partners LLC now owns 60,391 shares of the financial services provider’s stock worth $1,184,000 after purchasing an additional 2,623 shares during the period. 28.50% of the stock is currently owned by institutional investors and hedge funds.

Goldman Sachs BDC Company Profile

(Get Rating)

Goldman Sachs BDC, Inc is a business development company specializing in middle market and mezzanine investment in private companies. It seeks to make capital appreciation through direct originations of secured debt, senior secured debt, junior secured debt, including first lien, first lien/last-out unitranche and second lien debt, unsecured debt, including mezzanine debt and, to a lesser extent, investments in equities.

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