Raymond James & Associates reduced its position in Barings BDC, Inc. (NYSE:BBDC – Get Rating) by 20.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 270,906 shares of the company’s stock after selling 69,891 shares during the quarter. Raymond James & Associates’ holdings in Barings BDC were worth $2,240,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the company. Moisand Fitzgerald Tamayo LLC purchased a new stake in shares of Barings BDC during the second quarter worth approximately $25,000. Private Trust Co. NA purchased a new stake in shares of Barings BDC during the second quarter worth approximately $27,000. Point72 Hong Kong Ltd purchased a new stake in shares of Barings BDC during the second quarter worth approximately $28,000. Lake Point Wealth Management raised its stake in shares of Barings BDC by 3,008.0% during the first quarter. Lake Point Wealth Management now owns 3,108 shares of the company’s stock worth $32,000 after purchasing an additional 3,008 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in shares of Barings BDC during the first quarter worth approximately $105,000. 49.23% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on BBDC shares. Keefe, Bruyette & Woods cut Barings BDC from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $10.50 to $10.00 in a research note on Monday, November 14th. Wells Fargo & Company upped their price target on Barings BDC from $9.00 to $10.00 and gave the stock an “overweight” rating in a research note on Monday, November 14th. Finally, Raymond James cut their price objective on Barings BDC from $11.50 to $11.00 and set an “outperform” rating for the company in a research report on Monday, November 21st.
Barings BDC Trading Down 0.2 %
Barings BDC (NYSE:BBDC – Get Rating) last released its quarterly earnings data on Thursday, November 10th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.01. The firm had revenue of $56.31 million during the quarter, compared to analysts’ expectations of $58.43 million. Barings BDC had a return on equity of 8.27% and a net margin of 9.06%. As a group, sell-side analysts anticipate that Barings BDC, Inc. will post 1.05 earnings per share for the current fiscal year.
Barings BDC Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, December 14th. Stockholders of record on Wednesday, December 7th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 11.07%. The ex-dividend date was Tuesday, December 6th. Barings BDC’s dividend payout ratio is currently 331.03%.
About Barings BDC
Barings BDC, Inc is a closed-end management investment company, which engages in the provision of customized financing primarily to lower middle market companies. Its investment objective is to seek returns by generating current income from our debt investments, and capital appreciation from our equity-related investments.
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