StoneCastle Financial Corp. (BANX) Sets New 1-Year High at $18.88
StoneCastle Financial Corp. (NASDAQ:BANX)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $18.88 and last traded at $18.70, with a volume of 12,998 shares changing hands. The stock had previously closed at $18.69.
Several brokerages have recently weighed in on BANX. Zacks Investment Research cut StoneCastle Financial Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, July 5th. Keefe, Bruyette & Woods upgraded StoneCastle Financial Corp. from a “market perform” rating to an “outperform” rating and set a $19.50 price objective for the company in a report on Wednesday, June 1st. National Securities restated a “buy” rating and issued a $21.00 price objective (down previously from $22.00) on shares of StoneCastle Financial Corp. in a report on Monday, May 9th. Finally, Robert W. Baird restated a “buy” rating on shares of StoneCastle Financial Corp. in a report on Sunday, May 8th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $20.58.
The firm has a market capitalization of $122.22 million and a price-to-earnings ratio of 33.62. The company has a 50-day moving average price of $18.09 and a 200-day moving average price of $16.86.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 29th. Stockholders of record on Monday, June 20th were issued a dividend of $0.37 per share. This is a positive change from StoneCastle Financial Corp.’s previous quarterly dividend of $0.35. The ex-dividend date was Thursday, June 16th. This represents a $1.48 annualized dividend and a dividend yield of 7.89%.
StoneCastle Financial Corp. (StoneCastle Financial) is a non-diversified, closed-end management investment company. The Company’s primary investment objective is to provide stockholders with current income and capital appreciation. The Company seeks to achieve its investment objectives through investments in preferred equity, subordinated debt, convertible securities and, common equity primarily in the United States community bank sector.
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