StoneCastle Financial (NASDAQ:BANX) Stock Price Crosses Below 50-Day Moving Average of $21.93

StoneCastle Financial Corp (NASDAQ:BANX) passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $21.93 and traded as low as $22.05. StoneCastle Financial shares last traded at $22.10, with a volume of 5,790 shares.

Separately, Zacks Investment Research upgraded StoneCastle Financial from a “sell” rating to a “hold” rating in a report on Wednesday, October 9th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $24.33.

The firm has a fifty day moving average price of $21.93 and a two-hundred day moving average price of $21.81. The stock has a market capitalization of $144.75 million, a PE ratio of 13.48 and a beta of 0.43.

StoneCastle Financial (NASDAQ:BANX) last issued its quarterly earnings results on Thursday, August 8th. The investment management company reported $0.38 earnings per share for the quarter, hitting the consensus estimate of $0.38. The business had revenue of $4.04 million during the quarter, compared to analysts’ expectations of $4.11 million. As a group, equities research analysts forecast that StoneCastle Financial Corp will post 1.52 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Monday, September 23rd were issued a dividend of $0.38 per share. The ex-dividend date was Friday, September 20th. This represents a $1.52 annualized dividend and a yield of 6.87%. StoneCastle Financial’s payout ratio is currently 92.68%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Stonebridge Capital Advisors LLC purchased a new position in StoneCastle Financial during the 2nd quarter worth $41,000. Envestnet Asset Management Inc. purchased a new position in StoneCastle Financial during the 3rd quarter worth $214,000. Brinker Capital Inc. increased its holdings in StoneCastle Financial by 30.0% during the 3rd quarter. Brinker Capital Inc. now owns 28,960 shares of the investment management company’s stock worth $642,000 after purchasing an additional 6,689 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its position in StoneCastle Financial by 2.7% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 138,106 shares of the investment management company’s stock valued at $3,011,000 after acquiring an additional 3,646 shares in the last quarter. Finally, Greenwich Investment Management Inc. boosted its position in StoneCastle Financial by 0.5% during the 2nd quarter. Greenwich Investment Management Inc. now owns 169,168 shares of the investment management company’s stock valued at $3,689,000 after acquiring an additional 882 shares in the last quarter. Institutional investors own 26.34% of the company’s stock.

StoneCastle Financial Company Profile (NASDAQ:BANX)

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.

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