Shares of StoneCastle Financial Corp (NASDAQ:BANX) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $0.00 and traded as high as $21.81. StoneCastle Financial shares last traded at $21.81, with a volume of 3,731 shares trading hands.
Several analysts recently commented on the company. Zacks Investment Research raised StoneCastle Financial from a “sell” rating to a “hold” rating in a research note on Monday, May 6th. National Securities reaffirmed a “buy” rating and issued a $25.00 price target on shares of StoneCastle Financial in a research note on Monday, May 6th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. StoneCastle Financial currently has a consensus rating of “Buy” and a consensus target price of $24.50.
The stock’s 50 day simple moving average is $21.82. The company has a market capitalization of $142.82 million, a price-to-earnings ratio of 13.30 and a beta of 0.45.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Thursday, June 20th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 6.97%. The ex-dividend date was Wednesday, June 19th. StoneCastle Financial’s dividend payout ratio is currently 92.68%.
A number of institutional investors have recently bought and sold shares of the business. Punch & Associates Investment Management Inc. boosted its stake in StoneCastle Financial by 1.7% in the first quarter. Punch & Associates Investment Management Inc. now owns 422,637 shares of the investment management company’s stock worth $9,055,000 after purchasing an additional 7,001 shares in the last quarter. Oxbow Advisors LLC boosted its stake in StoneCastle Financial by 0.5% in the first quarter. Oxbow Advisors LLC now owns 281,207 shares of the investment management company’s stock worth $6,025,000 after purchasing an additional 1,279 shares in the last quarter. Stifel Financial Corp boosted its stake in StoneCastle Financial by 35.1% in the fourth quarter. Stifel Financial Corp now owns 135,938 shares of the investment management company’s stock worth $2,617,000 after purchasing an additional 35,313 shares in the last quarter. Hilton Capital Management LLC acquired a new position in StoneCastle Financial in the first quarter worth $1,175,000. Finally, Oak Grove Capital LLC boosted its stake in StoneCastle Financial by 40.7% in the first quarter. Oak Grove Capital LLC now owns 22,516 shares of the investment management company’s stock worth $482,000 after purchasing an additional 6,516 shares in the last quarter. 25.80% of the stock is currently owned by institutional investors.
About StoneCastle Financial (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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