StoneCastle Financial Corp (NASDAQ:BANX) has received a consensus rating of “Buy” from the six ratings firms that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $23.75.
BANX has been the topic of a number of recent analyst reports. ValuEngine lowered StoneCastle Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, August 7th. National Securities lifted their price objective on StoneCastle Financial from $24.00 to $25.00 and gave the stock a “buy” rating in a research report on Monday, August 13th. Zacks Investment Research lowered StoneCastle Financial from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Oppenheimer set a $24.00 price objective on StoneCastle Financial and gave the stock a “buy” rating in a research report on Friday, August 10th.
Shares of BANX stock opened at $21.56 on Friday. The company has a market capitalization of $146.78 million, a PE ratio of 13.56 and a beta of 0.18. StoneCastle Financial has a fifty-two week low of $20.00 and a fifty-two week high of $24.92.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Monday, September 24th were given a $0.38 dividend. The ex-dividend date was Friday, September 21st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.05%. StoneCastle Financial’s dividend payout ratio is currently 95.60%.
Hedge funds have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. purchased a new position in shares of StoneCastle Financial in the 2nd quarter valued at approximately $114,000. Ladenburg Thalmann Financial Services Inc. lifted its stake in shares of StoneCastle Financial by 13.6% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 115,770 shares of the investment management company’s stock valued at $2,518,000 after purchasing an additional 13,894 shares during the period. Finally, BB&T Securities LLC lifted its stake in shares of StoneCastle Financial by 21.5% in the 1st quarter. BB&T Securities LLC now owns 19,558 shares of the investment management company’s stock valued at $425,000 after purchasing an additional 3,458 shares during the period. Hedge funds and other institutional investors own 22.92% 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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