StoneCastle Financial (BANX) Upgraded 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 research note published on Monday.

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. “

Other research analysts have also issued reports about the stock. National Securities restated a buy rating and set a $23.00 price target on shares of StoneCastle Financial in a research report on Monday, November 13th. Keefe, Bruyette & Woods restated a buy rating and set a $23.00 price target on shares of StoneCastle Financial in a research report on Friday, November 10th. Finally, Oppenheimer set a $22.00 price target on shares of StoneCastle Financial and gave the company a buy rating in a research report on Monday, November 13th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $22.75.

StoneCastle Financial (BANX) traded up $0.43 during trading on Monday, reaching $21.93. 55,585 shares of the company were exchanged, compared to its average volume of 61,322. StoneCastle Financial has a fifty-two week low of $19.01 and a fifty-two week high of $21.96. The stock has a market cap of $140.66, a price-to-earnings ratio of 11.97 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 for the quarter, meeting analysts’ consensus estimates of $0.40. The business had revenue of $4.36 million during the quarter, compared to analysts’ expectations of $4.40 million. equities research analysts predict that StoneCastle Financial will post 1.58 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 3rd. Stockholders of record on Friday, December 22nd were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, December 21st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 6.93%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Stifel Financial Corp grew its position in shares of StoneCastle Financial by 13.6% during the 3rd quarter. Stifel Financial Corp now owns 106,710 shares of the investment management company’s stock valued at $2,197,000 after purchasing an additional 12,756 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. grew its position in shares of StoneCastle Financial by 18.5% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 96,281 shares of the investment management company’s stock valued at $1,987,000 after purchasing an additional 15,044 shares in the last quarter. Bard Associates Inc. bought a new stake in shares of StoneCastle Financial during the 2nd quarter worth $422,000. BB&T Securities LLC lifted its holdings in shares of StoneCastle Financial by 32.0% during the 3rd quarter. BB&T Securities LLC now owns 16,100 shares of the investment management company’s stock worth $332,000 after acquiring an additional 3,900 shares during the last quarter. Finally, Macquarie Group Ltd. bought a new stake in shares of StoneCastle Financial during the 3rd quarter worth $274,000. Hedge funds and other 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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