StoneCastle Financial Corp (NASDAQ:BANX) Expected to Post Quarterly Sales of $4.44 Million
Wall Street analysts predict that StoneCastle Financial Corp (NASDAQ:BANX) will announce $4.44 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for StoneCastle Financial Corp’s earnings. The lowest sales estimate is $4.43 million and the highest is $4.45 million. StoneCastle Financial Corp posted sales of $4.26 million in the same quarter last year, which suggests a positive year over year growth rate of 4.2%. The business is expected to report its next earnings report after the market closes on Wednesday, August 9th.
On average, analysts expect that StoneCastle Financial Corp will report full-year sales of $4.44 million for the current fiscal year, with estimates ranging from $17.96 million to $18.30 million. For the next fiscal year, analysts anticipate that the firm will report sales of $19.01 million per share. Zacks’ sales averages are an average based on a survey of analysts that follow StoneCastle Financial Corp.
BANX has been the subject of several research reports. Zacks Investment Research cut StoneCastle Financial Corp from a “hold” rating to a “sell” rating in a research note on Tuesday, May 9th. Oppenheimer Holdings, Inc. set a $21.00 target price on StoneCastle Financial Corp and gave the company a “buy” rating in a research note on Tuesday, May 9th. Finally, National Securities reissued a “buy” rating and issued a $23.00 target price on shares of StoneCastle Financial Corp in a research note on Monday, May 8th.
Several large investors have recently added to or reduced their stakes in the stock. Oxbow Advisors LLC boosted its stake in StoneCastle Financial Corp by 25.7% in the first quarter. Oxbow Advisors LLC now owns 241,882 shares of the investment management company’s stock valued at $4,876,000 after buying an additional 49,466 shares during the period. Greenwich Investment Management Inc. boosted its stake in shares of StoneCastle Financial Corp by 25.6% in the first quarter. Greenwich Investment Management Inc. now owns 132,321 shares of the investment management company’s stock worth $2,667,000 after buying an additional 26,930 shares during the period. South Texas Money Management Ltd. bought a new stake in shares of StoneCastle Financial Corp during the first quarter worth approximately $267,000. Stifel Financial Corp boosted its stake in shares of StoneCastle Financial Corp by 12.8% in the first quarter. Stifel Financial Corp now owns 57,709 shares of the investment management company’s stock worth $1,161,000 after buying an additional 6,564 shares during the period. Finally, Baird Financial Group Inc. boosted its stake in shares of StoneCastle Financial Corp by 8.7% in the first quarter. Baird Financial Group Inc. now owns 15,939 shares of the investment management company’s stock worth $321,000 after buying an additional 1,279 shares during the period. 35.04% of the stock is owned by institutional investors.
Shares of StoneCastle Financial Corp (BANX) traded up 1.00% during mid-day trading on Thursday, hitting $20.30. The stock had a trading volume of 2,950 shares. The firm’s 50-day moving average price is $20.00 and its 200 day moving average price is $19.68. StoneCastle Financial Corp has a 12-month low of $17.68 and a 12-month high of $20.74.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 29th. Stockholders of record on Tuesday, June 20th were paid a $0.37 dividend. The ex-dividend date was Friday, June 16th. This represents a $1.48 annualized dividend and a dividend yield of 7.36%. StoneCastle Financial Corp’s dividend payout ratio (DPR) is currently 86.55%.
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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.
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