Bard Associates Inc. bought a new stake in shares of StoneCastle Financial Corp (NASDAQ:BANX) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 20,685 shares of the investment management company’s stock, valued at approximately $422,000.
A number of other institutional investors have also made changes to their positions in BANX. Baird Financial Group Inc. raised its stake in StoneCastle Financial Corp by 8.7% during the 1st quarter. Baird Financial Group Inc. now owns 15,939 shares of the investment management company’s stock valued at $321,000 after acquiring an additional 1,279 shares in the last quarter. South Texas Money Management Ltd. acquired a new position in shares of StoneCastle Financial Corp during the 1st quarter valued at $267,000. Stifel Financial Corp increased its position in shares of StoneCastle Financial Corp by 12.8% during the 1st quarter. Stifel Financial Corp now owns 57,709 shares of the investment management company’s stock valued at $1,161,000 after purchasing an additional 6,564 shares during the period. Greenwich Investment Management Inc. increased its position in shares of StoneCastle Financial Corp by 25.6% during the 1st quarter. Greenwich Investment Management Inc. now owns 132,321 shares of the investment management company’s stock valued at $2,667,000 after purchasing an additional 26,930 shares during the period. Finally, BB&T Securities LLC acquired a new position in shares of StoneCastle Financial Corp during the 2nd quarter valued at $248,000. 33.95% of the stock is currently owned by hedge funds and other institutional investors.
StoneCastle Financial Corp (NASDAQ:BANX) opened at 20.27 on Tuesday. StoneCastle Financial Corp has a 12 month low of $17.68 and a 12 month high of $20.95. The stock’s 50 day moving average price is $20.34 and its 200 day moving average price is $20.07.
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 (EPS) for the quarter, missing the consensus estimate of $0.41 by $0.02. The business had revenue of $4.26 million during the quarter, compared to analysts’ expectations of $4.44 million. Equities research analysts expect that StoneCastle Financial Corp will post $1.68 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Thursday, September 21st will be issued a dividend of $0.38 per share. This is an increase from StoneCastle Financial Corp’s previous quarterly dividend of $0.37. The ex-dividend date is Wednesday, September 20th. This represents a $1.52 annualized dividend and a yield of 7.50%. StoneCastle Financial Corp’s dividend payout ratio is currently 85.06%.
Several equities analysts have recently issued reports on BANX shares. National Securities reiterated a “buy” rating and set a $23.00 price target on shares of StoneCastle Financial Corp in a research report on Tuesday, August 15th. Zacks Investment Research cut StoneCastle Financial Corp from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $22.50 price target on shares of StoneCastle Financial Corp in a research report on Thursday, August 10th. JMP Securities upgraded StoneCastle Financial Corp from a “market perform” rating to an “outperform” rating and set a $23.00 price target on the stock in a research report on Monday, August 14th. Finally, Oppenheimer Holdings, Inc. set a $21.00 price target on StoneCastle Financial Corp and gave the company a “buy” rating in a research report on Thursday, August 10th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. StoneCastle Financial Corp currently has an average rating of “Buy” and an average price target of $22.10.
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StoneCastle Financial Corp Profile
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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