STONECASTLE Fin/COM (BANX) Receives Consensus Rating of “Buy” from Analysts
Shares of STONECASTLE Fin/COM (NASDAQ:BANX) have been assigned an average recommendation of “Buy” from the six brokerages that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $23.75.
Several equities research analysts recently commented on BANX shares. ValuEngine upgraded shares of STONECASTLE Fin/COM from a “hold” rating to a “buy” rating in a research report on Monday, July 2nd. National Securities boosted their price objective on shares of STONECASTLE Fin/COM from $24.00 to $25.00 and gave the stock a “buy” rating in a research report on Monday, August 13th. Oppenheimer set a $24.00 price objective on shares of STONECASTLE Fin/COM and gave the stock a “buy” rating in a research report on Friday, August 10th. Finally, Zacks Investment Research upgraded shares of STONECASTLE Fin/COM from a “sell” rating to a “hold” rating in a research report on Wednesday, July 4th.
Institutional investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of STONECASTLE Fin/COM in the 2nd quarter worth about $114,000. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of STONECASTLE Fin/COM by 13.6% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 115,770 shares of the investment management company’s stock worth $2,518,000 after buying an additional 13,894 shares in the last quarter. United Capital Financial Advisers LLC boosted its position in shares of STONECASTLE Fin/COM by 2.9% in the 1st quarter. United Capital Financial Advisers LLC now owns 209,641 shares of the investment management company’s stock worth $4,560,000 after buying an additional 6,000 shares in the last quarter. Finally, BB&T Securities LLC boosted its position in shares of STONECASTLE Fin/COM by 21.5% in the 1st quarter. BB&T Securities LLC now owns 19,558 shares of the investment management company’s stock worth $425,000 after buying an additional 3,458 shares in the last quarter. Institutional investors and hedge funds own 22.92% of the company’s stock.
STONECASTLE Fin/COM (NASDAQ:BANX) last released its quarterly earnings data on Thursday, August 9th. The investment management company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.40 by $0.41. The business had revenue of $4.38 million during the quarter, compared to analysts’ expectations of $4.25 million. sell-side analysts predict that STONECASTLE Fin/COM will post 1.63 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Monday, September 24th will be given a $0.38 dividend. The ex-dividend date is Friday, September 21st. This represents a $1.52 annualized dividend and a dividend yield of 6.74%. STONECASTLE Fin/COM’s dividend payout ratio is presently 95.60%.
STONECASTLE Fin/COM 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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