StoneCastle Financial (BANX) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of StoneCastle Financial (NASDAQ:BANX) from a sell rating to a hold rating in a report released on Monday, January 8th.

According to Zacks, “StoneCastle Financial Corp. is a closed-end investment company. It invests in community banks located throughout the United States. The Company’s primary investment objective is to provide stockholders with current income, and to a lesser extent, capital appreciation, through preferred equity, subordinated debt and common equity investments predominantly in U.S. domiciled community banks. StoneCastle Financial Corp. is based in United States. “

Several other equities research analysts also recently weighed in on BANX. Keefe, Bruyette & Woods restated a buy rating and issued a $23.00 target price on shares of StoneCastle Financial in a research note on Friday, November 10th. National Securities restated a buy rating and issued a $23.00 target price on shares of StoneCastle Financial in a research note on Monday, November 13th. Finally, Oppenheimer set a $22.00 target price on shares of StoneCastle Financial and gave the company a buy rating in a research note on Monday, November 13th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. StoneCastle Financial currently has a consensus rating of Buy and an average price target of $22.75.

StoneCastle Financial (BANX) traded up $0.04 during midday trading on Monday, hitting $21.90. 29,213 shares of the stock were exchanged, compared to its average volume of 58,110. StoneCastle Financial has a 1 year low of $19.01 and a 1 year high of $22.12. The company has a market capitalization of $143.01, a P/E ratio of 12.44 and a beta of 0.20.

StoneCastle Financial (NASDAQ:BANX) last released its quarterly earnings data on Thursday, November 9th. The investment management company reported $0.40 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.40. The business had revenue of $4.36 million for the quarter, compared to the consensus estimate of $4.40 million. analysts anticipate that StoneCastle Financial will post 1.58 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 3rd. Shareholders of record on Friday, December 22nd were paid a $0.38 dividend. The ex-dividend date was Thursday, December 21st. This represents a $1.52 annualized dividend and a yield of 6.94%. StoneCastle Financial’s dividend payout ratio (DPR) is 86.36%.

Institutional investors and hedge funds have recently made changes to their positions in the business. Wells Fargo & Company MN raised its holdings in shares of StoneCastle Financial by 75.2% in the third quarter. Wells Fargo & Company MN now owns 11,147 shares of the investment management company’s stock worth $230,000 after buying an additional 4,785 shares during the last quarter. Northern Trust Corp raised its holdings in shares of StoneCastle Financial by 10.7% in the second quarter. Northern Trust Corp now owns 12,870 shares of the investment management company’s stock worth $262,000 after buying an additional 1,240 shares during the last quarter. Macquarie Group Ltd. purchased a new position in shares of StoneCastle Financial in the third quarter worth $274,000. BB&T Securities LLC raised its holdings in shares of StoneCastle Financial by 32.0% in the third quarter. BB&T Securities LLC now owns 16,100 shares of the investment management company’s stock worth $332,000 after buying an additional 3,900 shares during the last quarter. Finally, Bard Associates Inc. purchased a new position in shares of StoneCastle Financial in the second quarter worth $422,000. Institutional investors own 32.43% of the company’s stock.

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StoneCastle Financial Company Profile

StoneCastle Financial Corp. is a non-diversified, closed-end management investment company. The Company’s primary investment objective is to provide stockholders with current income, and to a lesser extent capital appreciation. The Company generally invests in the senior debt, subordinated debt, preferred shares and common stock of community banks.

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