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.
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.
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.
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