StoneCastle Financial Corp (NASDAQ:BANX) issued its quarterly earnings data on Thursday. The investment management company reported $0.40 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.40, Bloomberg Earnings reports. The firm had revenue of $4.36 million for the quarter, compared to the consensus estimate of $4.40 million.
StoneCastle Financial Corp (BANX) traded up $0.27 during midday trading on Friday, hitting $20.44. The company’s stock had a trading volume of 7,368 shares, compared to its average volume of 12,384. StoneCastle Financial Corp has a 1 year low of $17.81 and a 1 year high of $20.95. The company has a market cap of $131.64, a price-to-earnings ratio of 12.90 and a beta of 0.20.
An institutional investor recently raised its position in StoneCastle Financial Corp stock. Northern Trust Corp increased its position in shares of StoneCastle Financial Corp (NASDAQ:BANX) by 10.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,870 shares of the investment management company’s stock after buying an additional 1,240 shares during the quarter. Northern Trust Corp’s holdings in StoneCastle Financial Corp were worth $262,000 at the end of the most recent quarter. 33.41% of the stock is owned by hedge funds and other institutional investors.
BANX has been the topic of a number of research reports. National Securities restated a “buy” rating and set a $23.00 price objective on shares of StoneCastle Financial Corp in a research report on Tuesday, August 15th. Zacks Investment Research lowered 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 issued 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 equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $22.38.
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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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