StoneCastle Financial Corp (BANX) Increases Dividend to $0.38 Per Share
StoneCastle Financial Corp (NASDAQ:BANX) declared a quarterly dividend on Monday, September 11th, Wall Street Journal reports. Stockholders of record on Thursday, September 21st will be given a dividend of 0.38 per share by the investment management company on Thursday, September 28th. This represents a $1.52 annualized dividend and a dividend yield of 7.50%. The ex-dividend date of this dividend is Wednesday, September 20th. This is a boost from StoneCastle Financial Corp’s previous quarterly dividend of $0.37.
StoneCastle Financial Corp (NASDAQ BANX) traded up 0.70% during trading on Monday, hitting $20.27. The stock had a trading volume of 7,064 shares. The stock has a 50-day moving average price of $20.34 and a 200-day moving average price of $20.06. StoneCastle Financial Corp has a 52 week low of $17.68 and a 52 week high of $20.95.
StoneCastle Financial Corp (NASDAQ:BANX) last posted its quarterly earnings data on Wednesday, August 9th. The investment management company reported $0.39 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by $0.02. The firm had revenue of $4.26 million for the quarter, compared to the consensus estimate of $4.44 million. Analysts predict that StoneCastle Financial Corp will post $1.68 earnings per share for the current fiscal year.
An institutional investor recently raised its position in StoneCastle Financial Corp stock. Northern Trust Corp increased its stake in shares of StoneCastle Financial Corp (NASDAQ:BANX) by 10.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,870 shares of the investment management company’s stock after purchasing an additional 1,240 shares during the quarter. Northern Trust Corp’s holdings in StoneCastle Financial Corp were worth $262,000 at the end of the most recent reporting period. 33.95% of the stock is owned by institutional investors and hedge funds.
BANX has been the topic of a number of recent research reports. National Securities reaffirmed a “buy” rating and issued a $23.00 price objective on shares of StoneCastle Financial Corp in a research note on Monday, June 12th. Oppenheimer Holdings, Inc. set a $21.00 price target on shares of StoneCastle Financial Corp and gave the stock a “buy” rating in a research report on Thursday, August 10th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $22.50 price target on shares of StoneCastle Financial Corp in a research report on Thursday, August 10th. Zacks Investment Research raised shares of StoneCastle Financial Corp from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. Finally, JMP Securities raised shares of StoneCastle Financial Corp from a “market perform” rating to an “outperform” rating and set a $23.00 price objective on the stock in a research report on Monday, August 14th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $22.10.
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.
Receive News & Stock Ratings for StoneCastle Financial Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for StoneCastle Financial Corp and related stocks with our FREE daily email newsletter.