$4.40 Million in Sales Expected for StoneCastle Financial Corp (BANX) This Quarter
Analysts predict that StoneCastle Financial Corp (NASDAQ:BANX) will post $4.40 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for StoneCastle Financial Corp’s earnings, with estimates ranging from $4.36 million to $4.44 million. StoneCastle Financial Corp posted sales of $4.25 million in the same quarter last year, which suggests a positive year-over-year growth rate of 3.5%. The business is scheduled to issue its next earnings results after the market closes on Thursday, November 9th.
On average, analysts expect that StoneCastle Financial Corp will report full year sales of $4.40 million for the current financial year, with estimates ranging from $17.49 million to $17.76 million. For the next fiscal year, analysts forecast that the company will report sales of $18.24 million per share, with estimates ranging from $18.05 million to $18.43 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for StoneCastle Financial Corp.
StoneCastle Financial Corp (NASDAQ:BANX) last announced its quarterly earnings data on Wednesday, August 9th. The investment management company reported $0.39 EPS for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.02). The firm had revenue of $4.26 million during the quarter, compared to analyst estimates of $4.44 million.
A number of research firms have recently issued reports on BANX. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $22.50 target price on shares of StoneCastle Financial Corp in a research note on Thursday, August 10th. 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 Thursday, August 10th. Zacks Investment Research upgraded StoneCastle Financial Corp from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th. National Securities reiterated a “buy” rating and issued a $23.00 target price on shares of StoneCastle Financial Corp in a research note on Tuesday, August 15th. Finally, JMP Securities upgraded StoneCastle Financial Corp from a “market perform” rating to an “outperform” rating and set a $23.00 target price for the company in a research note 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 company presently has an average rating of “Buy” and an average target price of $22.38.
StoneCastle Financial Corp (NASDAQ:BANX) opened at 20.58 on Tuesday. The stock’s 50 day moving average price is $20.44 and its 200-day moving average price is $20.20. StoneCastle Financial Corp has a 12 month low of $17.68 and a 12 month high of $20.95.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 28th. Stockholders of record on Thursday, September 21st were paid a $0.38 dividend. The ex-dividend date of this dividend was Wednesday, September 20th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.39%. This is a positive change from StoneCastle Financial Corp’s previous quarterly dividend of $0.37. StoneCastle Financial Corp’s dividend payout ratio (DPR) is 87.36%.
A number of hedge funds and other institutional investors have recently modified their holdings of BANX. Stifel Financial Corp grew its stake in StoneCastle Financial Corp by 62.8% during the 2nd quarter. Stifel Financial Corp now owns 93,954 shares of the investment management company’s stock valued at $1,914,000 after purchasing an additional 36,245 shares in the last quarter. Bard Associates Inc. acquired a new stake in StoneCastle Financial Corp during the 2nd quarter valued at approximately $422,000. BB&T Securities LLC acquired a new stake in StoneCastle Financial Corp during the 2nd quarter valued at approximately $248,000. Finally, Northern Trust Corp grew its stake in StoneCastle Financial Corp by 10.7% during the 2nd quarter. Northern Trust Corp now owns 12,870 shares of the investment management company’s stock valued at $262,000 after purchasing an additional 1,240 shares in the last quarter. Hedge funds and other institutional investors own 33.95% of the company’s stock.
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StoneCastle Financial Corp Company 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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