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. For its fixed income portion, the fund invests in subordinated debt securities which are rated BBB- or better by Kroll Ratings. The fund employs fundamental analysis with bottom-up security picking approach by focusing on factors such as review of historical and prospective financial information, interviews with management and key employees of the prospective bank, financial models and projections, changes in interest rates, changes in unemployment rates, changes in home prices, changes in economic activity to create its portfolio. It employs proprietary research to create its portfolio. StoneCastle Financial Corp. was formed on February 7, 2013 and is domiciled in the United States.
Industry, Sector and Symbol
Industry Investment advice
Sub-IndustryN/A
SectorFinance
Phone212-354-6500
Debt
Price-To-Earnings
Sales & Book Value
Annual Sales$17.73 million
Profitability
Miscellaneous
EmployeesN/A
Next Earnings Date8/8/2019 (Estimated)
OptionableNot Optionable
StoneCastle Financial (NASDAQ:BANX) Frequently Asked Questions
What is StoneCastle Financial's stock symbol?
StoneCastle Financial trades on the NASDAQ under the ticker symbol "BANX."
How often does StoneCastle Financial pay dividends? What is the dividend yield for StoneCastle Financial?
StoneCastle Financial announced a quarterly dividend on Friday, March 8th. Shareholders of record on Tuesday, March 19th will be given a dividend of $0.38 per share on Tuesday, March 26th. This represents a $1.52 dividend on an annualized basis and a yield of 6.99%. The ex-dividend date of this dividend is Monday, March 18th. View StoneCastle Financial's Dividend History.
How were StoneCastle Financial's earnings last quarter?
StoneCastle Financial Corp (NASDAQ:BANX) posted its quarterly earnings results on Thursday, February, 28th. The investment management company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.39 by $0.02. The investment management company had revenue of $4.71 million for the quarter, compared to analyst estimates of $4.42 million. View StoneCastle Financial's Earnings History.
When is StoneCastle Financial's next earnings date?
What price target have analysts set for BANX?
3 brokerages have issued 1-year target prices for StoneCastle Financial's stock. Their predictions range from $24.00 to $25.00. On average, they anticipate StoneCastle Financial's stock price to reach $24.3333 in the next year. This suggests a possible upside of 11.9% from the stock's current price. View Analyst Price Targets for StoneCastle Financial.
What is the consensus analysts' recommendation for StoneCastle Financial?
3 Wall Street analysts have issued "buy," "hold," and "sell" ratings for StoneCastle Financial in the last year. There are currently 3 buy ratings for the stock, resulting in a consensus recommendation of "Buy." View Analyst Ratings for StoneCastle Financial.
What are Wall Street analysts saying about StoneCastle Financial stock?
Here are some recent quotes from research analysts about StoneCastle Financial stock:
- 1. According to Zacks Investment Research, "StoneCastle Financial Corp. is a closed-end investment company. It invests in community banks located throughout the United States. The Company's primary investment objective is to provide stockholders with current income, and to a lesser extent, capital appreciation, through preferred equity, subordinated debt and common equity investments predominantly in U.S. domiciled community banks. StoneCastle Financial Corp. is based in United States. " (5/13/2019)
- 2. National Securities analysts commented, "▪ StoneCastle earned NII/share of $0.38 for 1Q19, matching the dividend but missing our estimate of $0.42. Redemption activity was significant during the quarter at $19.5mm compared to only $428K in 4Q18. Originations were a minimal $1.5mm. As a result, the portfolio at fair value shrank to $173.1mm compared to $189.1mm Q/Q. Management noted that debt offerings are down 48% Y/Y for all US banks and during the quarter only six sub debt deals closed in the market raising roughly $200mm.
▪ US community banks are very well capitalized, with equity/assets north of 11% and in some instances into the mid-teens. Corporate tax rate reductions combined with few dividend increases and tepid loan growth have all contributed to a much larger equity base for US banks and as a result there is less demand for fresh capital. The looming requirement for sub debt with CECL in March 2020 leaves some light at the end of the tunnel for loan demand. Despite the disappointment at the portfolio shrinking, we think management has the right idea about not chasing loans for the sake of growing the book (which would also grow their fees). With terms of five-to-ten years and fixed rate issuances, BANX could potentially be opening itself up to poor Sharpe ratio investments over a longer time period if it ratcheted up volume with weighted average yields of only 5%-6%. We believe the credit cycle is on the cusp of changing and that the last minute CECL rush will enable BANX to originate loans at much more favorable rates in the not-so-distant future.
▪ NAV/share improved Q/Q to $21.63 from $21.43 as a rebound in markets drove positive valuations on the portfolio. It’s worth pointing out that BANX is basically the inverse of most RICs: 95% of its investments had at least two broker quotes and are thus not marked to model. NAV is more transparent and less arbitrary than any ’40 Act company of which we know. Additionally, US community banks have far lower failure rates than any other single industry we know of and yet the past year StoneCastle’s dividend yield has traded an average of 269 bps higher than the BAML BBB corporate effective yield. We continue to think BANX is a misunderstood and undervalued company, especially when taking underlying credit into account.
▪ We are revising our 2019 NII/share estimate to $1.61 from $1.69 and our 2020 NII/share estimate to $1.72 from $1.75. We are maintaining our BUY rating and our $25 price target." (5/6/2019)
Has StoneCastle Financial been receiving favorable news coverage?
News articles about BANX stock have been trending somewhat negative on Monday, according to InfoTrie. InfoTrie scores the sentiment of media coverage by reviewing more than six thousand blog and news sources in real time. The firm ranks coverage of public companies on a scale of negative five to positive five, with scores closest to five being the most favorable. StoneCastle Financial earned a media sentiment score of -1.0 on InfoTrie's scale. They also gave media coverage about the investment management company a news buzz of 10.0 out of 10, indicating that recent media coverage is extremely likely to have an impact on the stock's share price in the near future.
Who are some of StoneCastle Financial's key competitors?
Some companies that are related to StoneCastle Financial include Barings BDC (BBDC), Diamond Hill Investment Group (DHIL), Fidus Investment (FDUS), Westwood Holdings Group (WHG), Monroe Capital (MRCC), Value Line (VALU), Silvercrest Asset Management Group (SAMG), Saratoga Investment (SAR), Alcentra Capital (ABDC), Great Elm Capital (GECC), Hennessy Advisors (HNNA), Fifth Street Asset Management (FSAM), Manning and Napier (MN), Puhui Wealth Investment Managemnt (PHCF) and U.S. Global Investors (GROW).
What other stocks do shareholders of StoneCastle Financial own?
Who are StoneCastle Financial's key executives?
StoneCastle Financial's management team includes the folowing people:
- Mr. Joshua Stuart Siegel, Chairman & CEO (Age 48)
- Mr. George Shilowitz, Pres & Director (Age 54)
- Mr. Patrick J. Farrell, Chief Financial Officer (Age 59)
- Ms. Rachel Schatten J.D., Chief Compliance Officer, Gen. Counsel and Sec. (Age 48)
Who are StoneCastle Financial's major shareholders?
StoneCastle Financial's stock is owned by many different of institutional and retail investors. Top institutional investors include Punch & Associates Investment Management Inc. (6.45%), Oxbow Advisors LLC (4.29%), Ladenburg Thalmann Financial Services Inc. (2.05%), Hilton Capital Management LLC (0.84%), Man Group plc (0.62%) and Van Hulzen Asset Management LLC (0.36%). View Institutional Ownership Trends for StoneCastle Financial.
Which major investors are selling StoneCastle Financial stock?
BANX stock was sold by a variety of institutional investors in the last quarter, including Morgan Stanley, JPMorgan Chase & Co., Man Group plc, Creative Planning, Acadian Asset Management LLC and Van Hulzen Asset Management LLC. View Insider Buying and Selling for StoneCastle Financial.
Which major investors are buying StoneCastle Financial stock?
BANX stock was purchased by a variety of institutional investors in the last quarter, including Hilton Capital Management LLC, Brinker Capital Inc., Ladenburg Thalmann Financial Services Inc., Punch & Associates Investment Management Inc., Oak Grove Capital LLC, Oppenheimer & Co. Inc., Advisor Group Inc. and Oxbow Advisors LLC. View Insider Buying and Selling for StoneCastle Financial.
How do I buy shares of StoneCastle Financial?
Shares of BANX can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.
What is StoneCastle Financial's stock price today?
One share of BANX stock can currently be purchased for approximately $21.75.
How big of a company is StoneCastle Financial?
StoneCastle Financial has a market capitalization of $142.57 million and generates $17.73 million in revenue each year. The investment management company earns $10.03 million in net income (profit) each year or $1.64 on an earnings per share basis.
What is StoneCastle Financial's official website?
How can I contact StoneCastle Financial?
StoneCastle Financial's mailing address is 152 WEST 57TH STREET 35TH FLOOR, NEW YORK NY, 10019. The investment management company can be reached via phone at 212-354-6500 or via email at [email protected]
MarketBeat Community Rating for StoneCastle Financial (NASDAQ BANX)
MarketBeat's community ratings are surveys of what our community members think about StoneCastle Financial and other stocks. Vote "Outperform" if you believe BANX will outperform the S&P 500 over the long term. Vote "Underperform" if you believe BANX will underperform the S&P 500 over the long term. You may vote once every thirty days.
