StoneCastle Financial (BANX) Raised to “Strong-Buy” at ValuEngine

ValuEngine upgraded shares of StoneCastle Financial (NASDAQ:BANX) from a buy rating to a strong-buy rating in a research note issued to investors on Monday, April 2nd.

Several other brokerages have also recently weighed in on BANX. Robert W. Baird assumed coverage on StoneCastle Financial in a report on Monday, April 2nd. They set an outperform rating and a $23.00 target price on the stock. Zacks Investment Research cut StoneCastle Financial from a hold rating to a sell rating in a report on Tuesday, March 6th. National Securities boosted their target price on StoneCastle Financial from $23.00 to $24.00 and gave the stock a buy rating in a report on Monday, March 5th. Finally, Oppenheimer set a $22.00 price objective on StoneCastle Financial and gave the company a buy rating in a report on Friday, March 2nd. One research analyst has rated the stock with a sell rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $23.00.

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Shares of StoneCastle Financial stock traded up $0.14 on Monday, hitting $21.65. 9,971 shares of the company were exchanged, compared to its average volume of 26,619. The stock has a market cap of $141.46, a P/E ratio of 13.53 and a beta of 0.20. StoneCastle Financial has a 1-year low of $19.66 and a 1-year high of $22.75.

StoneCastle Financial (NASDAQ:BANX) last issued its earnings results on Thursday, March 1st. The investment management company reported $0.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.01. The company had revenue of $4.24 million for the quarter, compared to analyst estimates of $4.36 million. research analysts forecast that StoneCastle Financial will post 1.67 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 27th. Investors of record on Tuesday, March 20th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 7.02%. The ex-dividend date was Monday, March 19th. StoneCastle Financial’s dividend payout ratio is presently 95.60%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Oxbow Advisors LLC lifted its holdings in StoneCastle Financial by 14.6% in the fourth quarter. Oxbow Advisors LLC now owns 270,577 shares of the investment management company’s stock valued at $5,447,000 after acquiring an additional 34,536 shares during the last quarter. Greenwich Investment Management Inc. lifted its holdings in StoneCastle Financial by 2.7% in the fourth quarter. Greenwich Investment Management Inc. now owns 156,574 shares of the investment management company’s stock valued at $3,151,000 after acquiring an additional 4,078 shares during the last quarter. Stifel Financial Corp lifted its holdings in StoneCastle Financial by 13.6% in the third quarter. Stifel Financial Corp now owns 106,710 shares of the investment management company’s stock valued at $2,197,000 after acquiring an additional 12,756 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its holdings in StoneCastle Financial by 5.8% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 101,876 shares of the investment management company’s stock valued at $2,051,000 after acquiring an additional 5,595 shares during the last quarter. Finally, BB&T Securities LLC lifted its holdings in StoneCastle Financial by 32.0% in the third quarter. BB&T Securities LLC now owns 16,100 shares of the investment management company’s stock valued at $332,000 after acquiring an additional 3,900 shares during the last quarter. Hedge funds and other institutional investors own 30.85% of the company’s stock.

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About StoneCastle Financial

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for StoneCastle Financial (NASDAQ:BANX)

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