Hilton Capital Management LLC bought a new position in StoneCastle Financial Corp (NASDAQ:BANX) in the 1st quarter, HoldingsChannel.com reports. The fund bought 54,833 shares of the investment management company’s stock, valued at approximately $1,175,000.
Other institutional investors have also modified their holdings of the company. Private Advisor Group LLC boosted its position in StoneCastle Financial by 13.0% during the fourth quarter. Private Advisor Group LLC now owns 10,974 shares of the investment management company’s stock valued at $212,000 after purchasing an additional 1,259 shares during the last quarter. Oxbow Advisors LLC boosted its position in StoneCastle Financial by 0.5% during the first quarter. Oxbow Advisors LLC now owns 281,207 shares of the investment management company’s stock valued at $6,025,000 after purchasing an additional 1,279 shares during the last quarter. Advisor Group Inc. boosted its position in StoneCastle Financial by 36.4% during the first quarter. Advisor Group Inc. now owns 5,033 shares of the investment management company’s stock valued at $107,000 after purchasing an additional 1,342 shares during the last quarter. Oppenheimer & Co. Inc. boosted its position in StoneCastle Financial by 12.0% during the first quarter. Oppenheimer & Co. Inc. now owns 16,156 shares of the investment management company’s stock valued at $346,000 after purchasing an additional 1,737 shares during the last quarter. Finally, Oak Grove Capital LLC boosted its position in StoneCastle Financial by 45.5% during the fourth quarter. Oak Grove Capital LLC now owns 16,000 shares of the investment management company’s stock valued at $309,000 after purchasing an additional 5,000 shares during the last quarter. 25.80% of the stock is owned by institutional investors and hedge funds.
A number of analysts recently issued reports on BANX shares. National Securities reissued a “buy” rating and set a $25.00 price objective on shares of StoneCastle Financial in a research report on Monday, March 4th. Zacks Investment Research cut StoneCastle Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, March 12th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. StoneCastle Financial has an average rating of “Buy” and a consensus target price of $24.50.
BANX traded up $0.27 during trading on Friday, reaching $21.99. 280 shares of the stock traded hands, compared to its average volume of 5,900. The stock has a market cap of $142.27 million, a price-to-earnings ratio of 13.41 and a beta of 0.45. StoneCastle Financial Corp has a fifty-two week low of $16.75 and a fifty-two week high of $24.92.
StoneCastle Financial (NASDAQ:BANX) last released its quarterly earnings data on Thursday, May 2nd. The investment management company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.02). The company had revenue of $4.24 million during the quarter, compared to analysts’ expectations of $4.57 million. As a group, research analysts forecast that StoneCastle Financial Corp will post 1.53 earnings per share for the current year.
The company also recently disclosed 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 is Wednesday, June 19th. This represents a $1.52 dividend on an annualized basis and a yield of 6.91%. StoneCastle Financial’s payout ratio is 92.68%.
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StoneCastle Financial 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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