Goldman Sachs BDC (NYSE:GSBD) Lifted to “Equal Weight” at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Goldman Sachs BDC (NYSE:GSBD) from an underweight rating to an equal weight rating in a report issued on Monday morning, Marketbeat.com reports. Wells Fargo & Company currently has $12.00 target price on the financial services provider’s stock, down from their prior target price of $14.00.

Separately, StockNews.com lowered Goldman Sachs BDC from a buy rating to a hold rating in a research note on Monday, May 20th.

Goldman Sachs BDC Stock Performance

NYSE:GSBD opened at $13.73 on Monday. The stock has a 50-day simple moving average of $15.12 and a two-hundred day simple moving average of $15.21. The firm has a market capitalization of $1.54 billion, a PE ratio of 7.15 and a beta of 1.08. Goldman Sachs BDC has a 52-week low of $13.39 and a 52-week high of $15.94. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.24 and a current ratio of 1.24.

Goldman Sachs BDC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Monday, September 30th will be issued a $0.45 dividend. The ex-dividend date is Friday, September 27th. This represents a $1.80 dividend on an annualized basis and a yield of 13.11%. Goldman Sachs BDC’s dividend payout ratio is currently 93.75%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GSBD. WFA Asset Management Corp bought a new position in Goldman Sachs BDC during the first quarter valued at approximately $29,000. Signaturefd LLC bought a new position in shares of Goldman Sachs BDC during the 4th quarter valued at approximately $40,000. Register Financial Advisors LLC purchased a new position in shares of Goldman Sachs BDC in the first quarter valued at $41,000. Creekmur Asset Management LLC bought a new stake in Goldman Sachs BDC in the fourth quarter worth $45,000. Finally, CWM LLC raised its stake in Goldman Sachs BDC by 75.0% during the fourth quarter. CWM LLC now owns 3,500 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 1,500 shares in the last quarter. Hedge funds and other institutional investors own 28.72% of the company’s stock.

Goldman Sachs BDC Company Profile

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.