StoneCastle Financial (BANX) Downgraded to “Hold” at ValuEngine

ValuEngine cut shares of StoneCastle Financial (NASDAQ:BANX) from a buy rating to a hold rating in a research note published on Monday morning.

Several other equities research analysts also recently commented on the company. Oppenheimer set a $24.00 price objective on StoneCastle Financial and gave the company a buy rating in a report on Sunday, November 4th. Zacks Investment Research downgraded StoneCastle Financial from a buy rating to a hold rating in a report on Monday, October 15th. National Securities restated a buy rating and set a $25.00 price objective on shares of StoneCastle Financial in a report on Monday, November 5th. Finally, JMP Securities restated a buy rating and set a $24.00 price objective on shares of StoneCastle Financial in a report on Monday, December 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $24.20.

NASDAQ BANX opened at $18.88 on Monday. The company has a market cap of $132.25 million, a PE ratio of 12.47 and a beta of 0.35. StoneCastle Financial has a 52 week low of $18.55 and a 52 week high of $24.92.

StoneCastle Financial (NASDAQ:BANX) last released its quarterly earnings data on Thursday, November 1st. The investment management company reported $0.40 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.02). The firm had revenue of $4.40 million during the quarter, compared to analysts’ expectations of $4.56 million. On average, sell-side analysts expect that StoneCastle Financial will post 1.6 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Monday, December 24th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, December 21st. This represents a $1.52 annualized dividend and a yield of 8.05%. StoneCastle Financial’s dividend payout ratio (DPR) is currently 95.60%.

A number of institutional investors have recently made changes to their positions in the stock. Oak Grove Capital LLC bought a new stake in StoneCastle Financial during the third quarter worth $247,000. Oxbow Advisors LLC grew its holdings in StoneCastle Financial by 1.9% during the third quarter. Oxbow Advisors LLC now owns 271,104 shares of the investment management company’s stock worth $6,078,000 after buying an additional 4,980 shares in the last quarter. Private Advisor Group LLC bought a new stake in StoneCastle Financial during the third quarter worth $218,000. Acadian Asset Management LLC grew its holdings in StoneCastle Financial by 240.1% during the third quarter. Acadian Asset Management LLC now owns 8,298 shares of the investment management company’s stock worth $186,000 after buying an additional 5,858 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. bought a new stake in StoneCastle Financial during the second quarter worth $114,000. Institutional investors and hedge funds own 25.75% of the company’s stock.

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

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