Punch & Associates Investment Management Inc. Increases Position in StoneCastle Financial Corp (NASDAQ:BANX)

Punch & Associates Investment Management Inc. increased its holdings in shares of StoneCastle Financial Corp (NASDAQ:BANX) by 1.7% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 422,637 shares of the investment management company’s stock after acquiring an additional 7,001 shares during the quarter. Punch & Associates Investment Management Inc. owned about 0.06% of StoneCastle Financial worth $9,055,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of BANX. Advisor Group Inc. boosted its position in StoneCastle Financial by 1,745.5% during the 4th quarter. Advisor Group Inc. now owns 3,691 shares of the investment management company’s stock worth $71,000 after buying an additional 3,491 shares during the period. Private Advisor Group LLC boosted its position in StoneCastle Financial by 13.0% during the 4th quarter. Private Advisor Group LLC now owns 10,974 shares of the investment management company’s stock worth $212,000 after buying an additional 1,259 shares during the period. Acadian Asset Management LLC boosted its position in StoneCastle Financial by 72.6% during the 4th quarter. Acadian Asset Management LLC now owns 14,322 shares of the investment management company’s stock worth $276,000 after buying an additional 6,024 shares during the period. Oak Grove Capital LLC boosted its position in StoneCastle Financial by 45.5% during the 4th quarter. Oak Grove Capital LLC now owns 16,000 shares of the investment management company’s stock worth $309,000 after buying an additional 5,000 shares during the period. Finally, Oppenheimer & Co. Inc. boosted its position in StoneCastle Financial by 12.0% during the 1st quarter. Oppenheimer & Co. Inc. now owns 16,156 shares of the investment management company’s stock worth $346,000 after buying an additional 1,737 shares during the period. Institutional investors and hedge funds own 25.80% of the company’s stock.

NASDAQ:BANX traded up $0.27 during mid-day trading on Friday, hitting $21.99. 280 shares of the company’s stock were exchanged, compared to its average volume of 5,900. StoneCastle Financial Corp has a fifty-two week low of $16.75 and a fifty-two week high of $24.92. The company has a market cap of $142.27 million, a PE ratio of 13.41 and a beta of 0.45.

StoneCastle Financial (NASDAQ:BANX) last posted its earnings results on Thursday, May 2nd. The investment management company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.02). The company had revenue of $4.24 million for the quarter, compared to analyst estimates of $4.57 million. On average, equities analysts predict that StoneCastle Financial Corp will post 1.53 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Thursday, June 20th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Wednesday, June 19th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 6.91%. StoneCastle Financial’s payout ratio is presently 92.68%.

Several research firms recently commented on BANX. Zacks Investment Research downgraded shares of StoneCastle Financial from a “hold” rating to a “sell” rating in a research report on Friday, March 22nd. National Securities reiterated a “buy” rating and set a $25.00 target price on shares of StoneCastle Financial in a research report on Monday, May 6th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $24.50.

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StoneCastle Financial Company Profile

StoneCastle Financial Corp. is a closed ended balanced mutual fund launched and managed by StoneCastle Asset Management LLC. It invests in public equity markets of the United States. The fund invests in stocks of companies operating across the banking sector. It invests in dividend paying growth and value stocks of companies.

Further Reading: How can investors find ex-dividend dates?

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).

Institutional Ownership by Quarter for StoneCastle Financial (NASDAQ:BANX)

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