Wells Fargo & Company downgraded shares of Barings BDC (NYSE:BBDC – Free Report) from an overweight rating to an equal weight rating in a report published on Monday morning, MarketBeat.com reports. The brokerage currently has $8.50 target price on the stock, down from their prior target price of $9.00.
Several other research firms have also commented on BBDC. Compass Point upped their price objective on Barings BDC from $8.50 to $9.50 and gave the stock a buy rating in a research note on Wednesday, August 16th. TheStreet upgraded Barings BDC from a c+ rating to a b- rating in a research note on Friday, September 1st. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $9.50.
Barings BDC Price Performance
Barings BDC (NYSE:BBDC – Get Free Report) last released its quarterly earnings results on Friday, November 10th. The company reported $0.31 earnings per share for the quarter, meeting the consensus estimate of $0.31. The firm had revenue of $70.85 million for the quarter, compared to analysts’ expectations of $74.06 million. Barings BDC had a return on equity of 10.94% and a net margin of 34.98%. The company’s revenue was up 25.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.26 EPS. On average, equities analysts predict that Barings BDC will post 1.19 earnings per share for the current year.
Barings BDC Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 13th. Stockholders of record on Wednesday, December 6th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, December 5th. This represents a $1.04 annualized dividend and a dividend yield of 11.74%. Barings BDC’s dividend payout ratio (DPR) is 115.56%.
Institutional Investors Weigh In On Barings BDC
Institutional investors have recently bought and sold shares of the business. Point72 Hong Kong Ltd purchased a new stake in Barings BDC in the 2nd quarter worth $28,000. Tyler Stone Wealth Management purchased a new stake in Barings BDC in the 2nd quarter worth $30,000. Lake Point Wealth Management increased its stake in Barings BDC by 3,008.0% in the 1st quarter. Lake Point Wealth Management now owns 3,108 shares of the company’s stock worth $32,000 after buying an additional 3,008 shares in the last quarter. Advisory Services Network LLC grew its position in shares of Barings BDC by 140.9% during the first quarter. Advisory Services Network LLC now owns 4,586 shares of the company’s stock valued at $36,000 after purchasing an additional 2,682 shares in the last quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new position in shares of Barings BDC during the first quarter valued at about $53,000. Hedge funds and other institutional investors own 49.03% of the company’s stock.
Barings BDC Company Profile
Barings BDC, Inc 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. It seeks to invest primarily in senior secured loans, first lien debt, unitranche, second lien debt, subordinated debt, equity co-investments and senior secured private debt investments in private middle-market companies that operate across a wide range of industries.
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