StoneCastle Financial Corp (NASDAQ:BANX) declared a quarterly dividend on Wednesday, September 11th, Zacks reports. Shareholders of record on Monday, September 23rd will be given a dividend of 0.38 per share by the investment management company on Friday, September 27th. This represents a $1.52 annualized dividend and a yield of 6.90%. The ex-dividend date of this dividend is Friday, September 20th.

StoneCastle Financial has decreased its dividend by an average of 2.9% per year over the last three years. StoneCastle Financial has a dividend payout ratio of 93.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect StoneCastle Financial to earn $1.54 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 98.7%.

Shares of BANX opened at $22.03 on Thursday. The stock has a 50-day simple moving average of $21.74 and a 200-day simple moving average of $21.68. The stock has a market capitalization of $144.27 million, a PE ratio of 13.43 and a beta of 0.42. StoneCastle Financial has a 1 year low of $16.75 and a 1 year high of $23.00.

StoneCastle Financial (NASDAQ:BANX) last posted its earnings results on Thursday, August 8th. The investment management company reported $0.38 earnings per share for the quarter, hitting the consensus estimate of $0.38. The business had revenue of $4.04 million for the quarter, compared to analysts’ expectations of $4.11 million. Research analysts forecast that StoneCastle Financial will post 1.52 EPS for the current fiscal year.

Separately, Zacks Investment Research upgraded StoneCastle Financial from a “sell” rating to a “hold” rating in a research note on Tuesday. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $24.50.

About StoneCastle Financial

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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Dividend History for StoneCastle Financial (NASDAQ:BANX)

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