Several other equities research analysts have also recently commented on the company. ValuEngine cut StoneCastle Financial from a buy rating to a hold rating in a research report on Tuesday, August 7th. Zacks Investment Research cut StoneCastle Financial from a buy rating to a hold rating in a research report on Monday, October 15th. Finally, National Securities increased their price objective on StoneCastle Financial from $24.00 to $25.00 and gave the company a buy rating in a research report on Monday, August 13th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $24.00.
Shares of NASDAQ:BANX traded up $0.41 on Friday, hitting $20.33. 10,186 shares of the company traded hands, compared to its average volume of 17,975. StoneCastle Financial has a 52 week low of $19.04 and a 52 week high of $24.92. The company has a market capitalization of $130.41 million, a PE ratio of 12.79 and a beta of 0.35.
StoneCastle Financial (NASDAQ:BANX) last issued its quarterly earnings results on Thursday, August 9th. The investment management company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.41. The company had revenue of $4.38 million for the quarter, compared to the consensus estimate of $4.25 million. On average, analysts expect that StoneCastle Financial will post 1.63 EPS for the current year.
Several institutional investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. purchased a new position in StoneCastle Financial in the second quarter worth about $114,000. Acadian Asset Management LLC boosted its position in StoneCastle Financial by 240.1% in the third quarter. Acadian Asset Management LLC now owns 8,298 shares of the investment management company’s stock worth $186,000 after purchasing an additional 5,858 shares during the last quarter. Finally, Private Advisor Group LLC purchased a new position in StoneCastle Financial in the third quarter worth about $218,000. 22.20% of the stock is currently owned by institutional investors.
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.
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