Greenwich Investment Management Inc. boosted its stake in StoneCastle Financial Corp (NASDAQ:BANX) by 2.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 156,574 shares of the investment management company’s stock after purchasing an additional 4,078 shares during the period. StoneCastle Financial comprises about 4.5% of Greenwich Investment Management Inc.’s holdings, making the stock its 8th largest holding. Greenwich Investment Management Inc. owned about 2.39% of StoneCastle Financial worth $3,151,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors also recently modified their holdings of the stock. Wells Fargo & Company MN raised its stake in shares of StoneCastle Financial by 75.2% during the third quarter. Wells Fargo & Company MN now owns 11,147 shares of the investment management company’s stock valued at $230,000 after acquiring an additional 4,785 shares during the last quarter. Northern Trust Corp increased its position in shares of StoneCastle Financial by 10.7% during the second quarter. Northern Trust Corp now owns 12,870 shares of the investment management company’s stock worth $262,000 after buying an additional 1,240 shares during the period. Macquarie Group Ltd. acquired a new stake in shares of StoneCastle Financial during the third quarter worth $274,000. BB&T Securities LLC increased its position in shares of StoneCastle Financial by 32.0% during the third quarter. BB&T Securities LLC now owns 16,100 shares of the investment management company’s stock worth $332,000 after buying an additional 3,900 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. increased its position in shares of StoneCastle Financial by 18.5% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 96,281 shares of the investment management company’s stock worth $1,987,000 after buying an additional 15,044 shares during the period. 30.49% of the stock is owned by institutional investors and hedge funds.
Shares of StoneCastle Financial Corp (NASDAQ:BANX) opened at $22.32 on Tuesday. The company has a market cap of $140.85, a price-to-earnings ratio of 12.13 and a beta of 0.22. StoneCastle Financial Corp has a twelve month low of $19.01 and a twelve month high of $22.49.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 27th. Shareholders of record on Tuesday, March 20th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 6.81%. The ex-dividend date is Monday, March 19th. StoneCastle Financial’s payout ratio is 82.61%.
Several research firms have recently weighed in on BANX. National Securities increased their price objective on shares of StoneCastle Financial from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Monday, March 5th. Oppenheimer set a $22.00 price objective on shares of StoneCastle Financial and gave the stock a “buy” rating in a research report on Friday, March 2nd. Finally, Zacks Investment Research cut shares of StoneCastle Financial from a “hold” rating to a “sell” rating in a research report on Monday, November 13th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $23.00.
COPYRIGHT VIOLATION WARNING: “StoneCastle Financial Corp (BANX) Shares Bought by Greenwich Investment Management Inc.” was published by American Banking News and is owned by of American Banking News. If you are accessing this piece on another domain, it was stolen and republished in violation of US & international copyright & trademark laws. The original version of this piece can be read at https://www.americanbankingnews.com/2018/03/13/stonecastle-financial-corp-banx-shares-bought-by-greenwich-investment-management-inc.html.
About StoneCastle Financial
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.
Want to see what other hedge funds are holding BANX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for StoneCastle Financial Corp (NASDAQ:BANX).
Receive News & Ratings for StoneCastle Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for StoneCastle Financial and related companies with MarketBeat.com's FREE daily email newsletter.