Truist Financial Cuts Goldman Sachs BDC (NYSE:GSBD) Price Target to $10.00

Goldman Sachs BDC (NYSE:GSBD) had its price target lowered by Truist Financial from $11.00 to $10.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a hold rating on the financial services provider’s stock.

A number of other analysts have also recently commented on the stock. Wells Fargo & Company reduced their target price on shares of Goldman Sachs BDC from $9.00 to $8.00 and set an “underweight” rating for the company in a report on Monday, March 2nd. Weiss Ratings reissued a “sell (d+)” rating on shares of Goldman Sachs BDC in a research report on Monday, December 29th. The Goldman Sachs Group initiated coverage on Goldman Sachs BDC in a research note on Monday, December 15th. They issued a “neutral” rating and a $10.50 price objective for the company. Zacks Research upgraded Goldman Sachs BDC from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 13th. Finally, Lucid Cap Mkts raised Goldman Sachs BDC to a “hold” rating in a report on Monday, December 15th. Five analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Goldman Sachs BDC presently has a consensus rating of “Reduce” and an average price target of $9.50.

Goldman Sachs BDC Trading Up 0.5%

Shares of NYSE:GSBD opened at $9.35 on Wednesday. The stock’s 50-day simple moving average is $9.29 and its two-hundred day simple moving average is $9.94. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of 8.99 and a beta of 0.62. Goldman Sachs BDC has a 52-week low of $8.81 and a 52-week high of $12.48. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.81 and a current ratio of 1.01.

Goldman Sachs BDC (NYSE:GSBD) last released its quarterly earnings results on Thursday, February 26th. The financial services provider reported $0.37 EPS for the quarter, beating the consensus estimate of $0.36 by $0.01. Goldman Sachs BDC had a net margin of 32.62% and a return on equity of 12.23%. The firm had revenue of $38.79 million during the quarter, compared to analyst estimates of $87.18 million. Analysts expect that Goldman Sachs BDC will post 2.19 EPS for the current year.

Goldman Sachs BDC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 28th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.32 per share. The ex-dividend date is Tuesday, March 31st. This represents a $1.28 annualized dividend and a dividend yield of 13.7%. Goldman Sachs BDC’s dividend payout ratio (DPR) is presently 123.08%.

Hedge Funds Weigh In On Goldman Sachs BDC

A number of hedge funds and other institutional investors have recently modified their holdings of GSBD. Allworth Financial LP increased its holdings in Goldman Sachs BDC by 48,594.1% in the 2nd quarter. Allworth Financial LP now owns 8,278 shares of the financial services provider’s stock valued at $93,000 after acquiring an additional 8,261 shares during the last quarter. Wealth Alliance LLC boosted its holdings in shares of Goldman Sachs BDC by 116.0% during the 2nd quarter. Wealth Alliance LLC now owns 43,955 shares of the financial services provider’s stock valued at $494,000 after purchasing an additional 23,610 shares during the last quarter. Hibernia Wealth Partners LLC grew its position in shares of Goldman Sachs BDC by 61.3% during the second quarter. Hibernia Wealth Partners LLC now owns 61,029 shares of the financial services provider’s stock valued at $687,000 after purchasing an additional 23,196 shares in the last quarter. Advisors Capital Management LLC grew its position in shares of Goldman Sachs BDC by 14.6% during the second quarter. Advisors Capital Management LLC now owns 486,553 shares of the financial services provider’s stock valued at $5,474,000 after purchasing an additional 61,821 shares in the last quarter. Finally, Cetera Investment Advisers increased its holdings in shares of Goldman Sachs BDC by 10.8% in the second quarter. Cetera Investment Advisers now owns 86,052 shares of the financial services provider’s stock worth $968,000 after purchasing an additional 8,370 shares during the last quarter. Institutional investors own 28.72% of the company’s stock.

Goldman Sachs BDC Company Profile

Goldman Sachs BDC, Inc (NYSE: GSBD) is an externally managed, closed-end, non-diversified management investment company organized as a business development company (BDC) under the U.S. Investment Company Act of 1940. The company’s primary objective is to generate current income and capital appreciation through debt and equity investments in U.S. middle-market companies. It principally invests in senior secured loans, mezzanine debt, preferred equity and, to a lesser extent, common equity, focusing on sponsor-backed transactions and special-situation financings.

The fund is advised by affiliates of Goldman Sachs Asset Management’s Private Credit Group, leveraging the firm’s global research capabilities and risk management infrastructure.