StoneCastle Financial Corp (BANX) Expected to Post Earnings of $0.39 Per Share

Equities research analysts predict that StoneCastle Financial Corp (NASDAQ:BANX) will post earnings of $0.39 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for StoneCastle Financial’s earnings, with estimates ranging from $0.38 to $0.40. StoneCastle Financial posted earnings of $0.41 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 4.9%. The firm is scheduled to announce its next earnings report on Thursday, March 7th.

According to Zacks, analysts expect that StoneCastle Financial will report full year earnings of $1.60 per share for the current year, with EPS estimates ranging from $1.59 to $1.60. For the next financial year, analysts forecast that the company will report earnings of $1.61 per share, with EPS estimates ranging from $1.56 to $1.65. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that follow StoneCastle Financial.

Several equities research analysts have issued reports on BANX shares. Zacks Investment Research lowered StoneCastle Financial from a “hold” rating to a “sell” rating in a research note on Monday, August 13th. Oppenheimer set a $24.00 price target on StoneCastle Financial and gave the stock a “buy” rating in a research note on Sunday, November 4th. Finally, National Securities upped their price objective on StoneCastle Financial from $24.00 to $25.00 and gave the company a “buy” rating in a research report on Monday, August 13th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $24.25.

Shares of NASDAQ BANX traded up $0.21 during mid-day trading on Friday, hitting $20.50. The company had a trading volume of 11,943 shares, compared to its average volume of 15,778. The stock has a market cap of $134.21 million, a PE ratio of 12.89 and a beta of 0.35. StoneCastle Financial has a 1 year low of $19.04 and a 1 year high of $24.92.

Several institutional investors have recently modified their holdings of the company. Oak Grove Capital LLC purchased a new position in shares of StoneCastle Financial during the third quarter valued at about $247,000. Oxbow Advisors LLC grew its position in shares of 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 purchasing an additional 4,980 shares in the last quarter. Private Advisor Group LLC purchased a new position in shares of StoneCastle Financial during the third quarter valued at about $218,000. Acadian Asset Management LLC grew its position in shares of StoneCastle Financial by 240.1% during the third 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 in the last quarter. Finally, Northwestern Mutual Wealth Management Co. purchased a new position in shares of StoneCastle Financial during the second quarter valued at about $114,000. Hedge funds and other institutional investors own 25.75% of the company’s stock.

StoneCastle Financial Company Profile

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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