Barings BDC (NYSE:BBDC) Downgraded by Zacks Investment Research


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Zacks Investment Research downgraded shares of Barings BDC (NYSE:BBDC) from a buy rating to a hold rating in a research report released on Wednesday morning, Zacks.com reports.

According to Zacks, “Barings BDC, Inc. is an externally managed business development company which primarily makes debt investments in middle market companies. The company is primarily managed by Barings, LLC, a premier global asset manager. Barings BDC Inc., formerly known as TRIANGLE CAPITAL CORPORATION, is based in Charlotte, United States. “

Several other equities analysts have also issued reports on the company. Jefferies Financial Group upgraded Barings BDC from a hold rating to a buy rating and lifted their price target for the company from $9.00 to $11.00 in a research note on Thursday, January 21st. Raymond James reiterated a buy rating on shares of Barings BDC in a research note on Thursday, December 24th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $10.00.

Barings BDC stock opened at $10.22 on Wednesday. The stock’s fifty day moving average price is $9.87 and its two-hundred day moving average price is $8.96. Barings BDC has a one year low of $6.10 and a one year high of $10.30. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.57 and a quick ratio of 0.57. The firm has a market cap of $490.17 million, a PE ratio of -255.50 and a beta of 0.70.

Barings BDC (NYSE:BBDC) last posted its quarterly earnings data on Monday, March 22nd. The company reported $0.19 EPS for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.02. Barings BDC had a positive return on equity of 5.71% and a negative net margin of 5.76%. Sell-side analysts expect that Barings BDC will post 0.62 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 17th. Investors of record on Wednesday, March 10th were given a dividend of $0.19 per share. The ex-dividend date was Tuesday, March 9th. This represents a $0.76 dividend on an annualized basis and a yield of 7.44%. This is a positive change from Barings BDC’s previous quarterly dividend of $0.17. Barings BDC’s payout ratio is currently 124.59%.

Hedge funds have recently modified their holdings of the stock. Punch & Associates Investment Management Inc. grew its position in Barings BDC by 43.7% during the 4th quarter. Punch & Associates Investment Management Inc. now owns 3,157,881 shares of the company’s stock worth $29,053,000 after acquiring an additional 959,979 shares during the last quarter. California Public Employees Retirement System grew its position in Barings BDC by 3.1% during the 3rd quarter. California Public Employees Retirement System now owns 79,500 shares of the company’s stock worth $636,000 after acquiring an additional 2,400 shares during the last quarter. Truist Financial Corp grew its position in Barings BDC by 2.1% during the 3rd quarter. Truist Financial Corp now owns 66,377 shares of the company’s stock worth $531,000 after acquiring an additional 1,381 shares during the last quarter. Wells Fargo & Company MN grew its position in Barings BDC by 13.1% during the 4th quarter. Wells Fargo & Company MN now owns 517,948 shares of the company’s stock worth $4,765,000 after acquiring an additional 60,093 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ bought a new stake in Barings BDC during the 4th quarter worth $1,300,000. Institutional investors and hedge funds own 74.42% of the company’s stock.

About Barings BDC

Barings BDC, Inc (NYSE: BBDC) is a publicly traded, externally managed investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. Barings BDC seeks to invest primarily in senior secured loans to private U.S. middle-market companies that operate across a wide range of industries.

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