Zacks: Analysts Anticipate StoneCastle Financial Corp (BANX) Will Post Quarterly Sales of $4.40 Million
Wall Street analysts expect that StoneCastle Financial Corp (NASDAQ:BANX) will announce $4.40 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for StoneCastle Financial Corp’s earnings. The highest sales estimate is $4.44 million and the lowest is $4.36 million. StoneCastle Financial Corp reported sales of $4.25 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 3.5%. The firm is scheduled to report its next quarterly earnings report on Thursday, November 9th.
On average, analysts expect that StoneCastle Financial Corp will report full-year sales of $4.40 million for the current fiscal year, with estimates ranging from $17.49 million to $17.76 million. For the next financial year, analysts forecast that the business will post sales of $18.24 million per share, with estimates ranging from $18.05 million to $18.43 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow StoneCastle Financial Corp.
StoneCastle Financial Corp (NASDAQ:BANX) last released its quarterly earnings data on Wednesday, August 9th. The investment management company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.02). The business had revenue of $4.26 million during the quarter, compared to analysts’ expectations of $4.44 million.
Several equities analysts have weighed in on BANX shares. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $22.50 target price on shares of StoneCastle Financial Corp in a research note on Thursday, August 10th. Oppenheimer Holdings, Inc. set a $21.00 target price on StoneCastle Financial Corp and gave the stock a “buy” rating in a report on Thursday, August 10th. National Securities restated a “buy” rating and set a $23.00 target price on shares of StoneCastle Financial Corp in a research report on Tuesday, August 15th. JMP Securities upgraded StoneCastle Financial Corp from a “market perform” rating to an “outperform” rating and set a $23.00 target price for the company in a research report on Monday, August 14th. Finally, Zacks Investment Research cut StoneCastle Financial Corp from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. StoneCastle Financial Corp currently has an average rating of “Buy” and a consensus target price of $22.10.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BB&T Securities LLC acquired a new stake in StoneCastle Financial Corp during the 2nd quarter worth $248,000. Northern Trust Corp lifted its holdings in StoneCastle Financial Corp by 10.7% during the second quarter. Northern Trust Corp now owns 12,870 shares of the investment management company’s stock worth $262,000 after acquiring an additional 1,240 shares in the last quarter. Baird Financial Group Inc. lifted its holdings in StoneCastle Financial Corp by 8.7% during the first quarter. Baird Financial Group Inc. now owns 15,939 shares of the investment management company’s stock worth $321,000 after acquiring an additional 1,279 shares in the last quarter. Bard Associates Inc. bought a new position in StoneCastle Financial Corp during the second quarter worth about $422,000. Finally, Stifel Financial Corp lifted its holdings in StoneCastle Financial Corp by 12.8% during the first quarter. Stifel Financial Corp now owns 57,709 shares of the investment management company’s stock worth $1,161,000 after acquiring an additional 6,564 shares in the last quarter. Institutional investors and hedge funds own 33.95% of the company’s stock.
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Shares of StoneCastle Financial Corp (BANX) traded up 0.19% during midday trading on Friday, hitting $20.68. 8,515 shares of the stock traded hands. The company’s market capitalization is $135.23 million. StoneCastle Financial Corp has a 1-year low of $17.68 and a 1-year high of $20.95. The stock has a 50 day moving average of $20.33 and a 200 day moving average of $20.13.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 28th. Stockholders of record on Thursday, September 21st were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.35%. This is a boost from StoneCastle Financial Corp’s previous quarterly dividend of $0.37. The ex-dividend date was Wednesday, September 20th. StoneCastle Financial Corp’s dividend payout ratio (DPR) is currently 87.36%.
About StoneCastle Financial Corp
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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