Wall Street brokerages expect that StoneCastle Financial Corp (NASDAQ:BANX) will report sales of $4.48 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for StoneCastle Financial’s earnings, with estimates ranging from $4.38 million to $4.57 million. StoneCastle Financial posted sales of $4.23 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 5.9%. The firm is scheduled to report its next quarterly earnings report after the market closes on Thursday, May 2nd.
On average, analysts expect that StoneCastle Financial will report full-year sales of $18.46 million for the current year, with estimates ranging from $18.28 million to $18.63 million. For the next fiscal year, analysts expect that the company will post sales of $18.90 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for StoneCastle Financial.
Several brokerages have recently weighed in on BANX. Zacks Investment Research upgraded shares of StoneCastle Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, April 9th. National Securities reiterated a “buy” rating and set a $25.00 target price on shares of StoneCastle Financial in a research report on Monday, March 4th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. StoneCastle Financial has a consensus rating of “Hold” and an average target price of $24.50.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Tuesday, March 19th were given a dividend of $0.38 per share. The ex-dividend date was Monday, March 18th. This represents a $1.52 annualized dividend and a dividend yield of 6.91%. StoneCastle Financial’s dividend payout ratio (DPR) is currently 92.68%.
A number of large investors have recently added to or reduced their stakes in the business. Stifel Financial Corp boosted its position in StoneCastle Financial by 35.1% in the fourth quarter. Stifel Financial Corp now owns 135,938 shares of the investment management company’s stock valued at $2,617,000 after buying an additional 35,313 shares in the last quarter. Oak Grove Capital LLC boosted its position in StoneCastle Financial by 45.5% in the fourth quarter. Oak Grove Capital LLC now owns 16,000 shares of the investment management company’s stock valued at $309,000 after buying an additional 5,000 shares in the last quarter. Acadian Asset Management LLC boosted its position in StoneCastle Financial by 72.6% in the fourth quarter. Acadian Asset Management LLC now owns 14,322 shares of the investment management company’s stock valued at $276,000 after buying an additional 6,024 shares in the last quarter. Private Advisor Group LLC boosted its position in StoneCastle Financial by 13.0% in the fourth quarter. Private Advisor Group LLC now owns 10,974 shares of the investment management company’s stock valued at $212,000 after buying an additional 1,259 shares in the last quarter. Finally, Advisor Group Inc. boosted its position in StoneCastle Financial by 1,745.5% in the fourth quarter. Advisor Group Inc. now owns 3,691 shares of the investment management company’s stock valued at $71,000 after buying an additional 3,491 shares in the last quarter. Hedge funds and other institutional investors own 24.74% of the company’s stock.
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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