StoneCastle Financial Corp (NASDAQ:BANX) has been assigned an average recommendation of “Buy” from the six brokerages that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $24.00.
Several research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of StoneCastle Financial from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a report on Monday, October 8th. ValuEngine upgraded StoneCastle Financial from a “hold” rating to a “buy” rating in a research note on Tuesday, December 11th. JMP Securities restated a “buy” rating and issued a $24.00 price objective on shares of StoneCastle Financial in a research report on Monday, December 10th. National Securities restated a “buy” rating and issued a $25.00 price objective on shares of StoneCastle Financial in a research report on Monday, November 5th. Finally, Oppenheimer set a $24.00 price objective on shares of StoneCastle Financial and gave the stock a “buy” rating in a research report on Sunday, November 4th.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in BANX. Northwestern Mutual Wealth Management Co. bought a new position in shares of StoneCastle Financial during the 2nd quarter valued at about $114,000. Acadian Asset Management LLC increased its position in shares of StoneCastle Financial by 240.1% during 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 last quarter. Private Advisor Group LLC bought a new position in StoneCastle Financial during the third quarter valued at approximately $218,000. Oak Grove Capital LLC bought a new position in StoneCastle Financial during the third quarter valued at approximately $247,000. Finally, Oxbow Advisors LLC grew its position in StoneCastle Financial by 1.9% during the third quarter. Oxbow Advisors LLC now owns 271,104 shares of the investment management company’s stock valued at $6,078,000 after acquiring an additional 4,980 shares during the last quarter. 25.75% of the stock is currently owned by institutional investors and hedge funds.
StoneCastle Financial (NASDAQ:BANX) last released its quarterly earnings results on Thursday, November 1st. The investment management company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.02). The firm had revenue of $4.40 million for the quarter, compared to analysts’ expectations of $4.56 million. As a group, research analysts anticipate that StoneCastle Financial will post 1.6 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 2nd. Investors of record on Monday, December 24th were paid a $0.38 dividend. The ex-dividend date of this dividend was Friday, December 21st. This represents a $1.52 dividend on an annualized basis and a yield of 7.77%. StoneCastle Financial’s dividend payout ratio is presently 95.60%.
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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