Wall Street analysts expect that StoneCastle Financial Corp (NASDAQ:BANX) will report $4.42 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for StoneCastle Financial’s earnings, with estimates ranging from $4.39 million to $4.45 million. StoneCastle Financial reported sales of $4.24 million during the same quarter last year, which indicates a positive year over year growth rate of 4.2%. The company is scheduled to report its next earnings results on Thursday, March 7th.
On average, analysts expect that StoneCastle Financial will report full-year sales of $17.44 million for the current year, with estimates ranging from $17.40 million to $17.47 million. For the next financial year, analysts expect that the business will report sales of $18.42 million, with estimates ranging from $18.28 million to $18.55 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for StoneCastle Financial.
A number of research analysts recently weighed in on BANX shares. Zacks Investment Research lowered StoneCastle Financial from a “hold” rating to a “sell” rating in a report on Monday, August 13th. ValuEngine lowered StoneCastle Financial from a “buy” rating to a “hold” rating in a report on Tuesday, August 7th. Oppenheimer set a $24.00 target price on StoneCastle Financial and gave the stock a “buy” rating in a report on Friday, August 10th. Finally, National Securities boosted their target price on StoneCastle Financial from $24.00 to $25.00 and gave the stock a “buy” rating in a report on Monday, August 13th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. StoneCastle Financial presently has a consensus rating of “Hold” and a consensus target price of $24.25.
Hedge funds have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. bought a new stake in StoneCastle Financial in the 2nd quarter valued at $114,000. Acadian Asset Management LLC boosted its stake in StoneCastle Financial by 240.1% in the 3rd quarter. Acadian Asset Management LLC now owns 8,298 shares of the investment management company’s stock valued at $186,000 after purchasing an additional 5,858 shares during the period. Private Advisor Group LLC bought a new stake in StoneCastle Financial in the 3rd quarter valued at $218,000. Oak Grove Capital LLC bought a new stake in StoneCastle Financial in the 3rd quarter valued at $247,000. Finally, Oxbow Advisors LLC boosted its stake in StoneCastle Financial by 1.9% in the 3rd quarter. Oxbow Advisors LLC now owns 271,104 shares of the investment management company’s stock valued at $6,078,000 after purchasing an additional 4,980 shares during the period. 22.52% of the stock is currently owned by institutional investors and hedge funds.
About StoneCastle Financial
StoneCastle Financial Corp. is a closed ended balanced mutual fund launched and managed by StoneCastle Asset Management LLC. It invests in public equity markets of the United States. The fund invests in stocks of companies operating across the banking sector. It invests in dividend paying growth and value stocks of companies.
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