StoneCastle Financial Corp (BANX) Increases Dividend to $0.38 Per Share

StoneCastle Financial Corp (NASDAQ:BANX) declared a quarterly dividend on Monday, September 11th, Wall Street Journal reports. Investors of record on Thursday, September 21st will be given a dividend of 0.38 per share by the investment management company on Thursday, September 28th. This represents a $1.52 dividend on an annualized basis and a yield of 7.50%. The ex-dividend date is Wednesday, September 20th. This is a boost from StoneCastle Financial Corp’s previous quarterly dividend of $0.37.

StoneCastle Financial Corp (NASDAQ BANX) opened at 20.27 on Tuesday. StoneCastle Financial Corp has a 1-year low of $17.68 and a 1-year high of $20.95. The company has a 50-day moving average of $20.34 and a 200-day moving average of $20.07.

StoneCastle Financial Corp (NASDAQ:BANX) last issued its earnings results on Wednesday, August 9th. The investment management company reported $0.39 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by $0.02. The business had revenue of $4.26 million for the quarter, compared to analysts’ expectations of $4.44 million. On average, equities research analysts predict that StoneCastle Financial Corp will post $1.68 earnings per share for the current year.

A hedge fund recently raised its stake in StoneCastle Financial Corp stock. Northern Trust Corp grew its stake in StoneCastle Financial Corp (NASDAQ:BANX) by 10.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,870 shares of the investment management company’s stock after purchasing an additional 1,240 shares during the period. Northern Trust Corp’s holdings in StoneCastle Financial Corp were worth $262,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 33.95% of the company’s stock.

Several equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods reissued a “buy” rating and set a $22.50 price objective on shares of StoneCastle Financial Corp in a research report on Thursday, August 10th. Oppenheimer Holdings, Inc. set a $21.00 target price on shares of StoneCastle Financial Corp and gave the stock a “buy” rating in a report on Thursday, August 10th. Zacks Investment Research upgraded shares of StoneCastle Financial Corp from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th. National Securities restated a “buy” rating and set a $23.00 target price on shares of StoneCastle Financial Corp in a report on Tuesday, August 15th. Finally, JMP Securities upgraded shares of StoneCastle Financial Corp from a “market perform” rating to an “outperform” rating and set a $23.00 price target for the company in a research note on Monday, August 14th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $22.10.

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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.

Dividend History for StoneCastle Financial Corp (NASDAQ:BANX)

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