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
Stock Exchange NASDAQ
Industry Investment advice
Sub-IndustryN/A
SectorFinance
Current SymbolNASDAQ:BANX
Previous Symbol
CUSIPN/A
Phone212-354-6500
Debt
Debt-to-Equity RatioN/A
Current RatioN/A
Quick RatioN/A
Price-To-Earnings
Trailing P/E Ratio12.71
Forward P/E Ratio12.63
P/E GrowthN/A
Sales & Book Value
Annual Sales$17.37 million
Price / Sales7.62
Cash FlowN/A
Price / Cash FlowN/A
Book ValueN/A
Price / BookN/A
Profitability
EPS (Most Recent Fiscal Year)$1.59
Net Income$12.03 million
Net Margins75.91%
Return on EquityN/A
Return on AssetsN/A
Miscellaneous
EmployeesN/A
Outstanding Shares6,550,000
Market Cap$132.90 million
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, December 7th. Investors of record on Monday, December 24th will be given a dividend of $0.38 per share on Wednesday, January 2nd. This represents a $1.52 dividend on an annualized basis and a yield of 7.52%. The ex-dividend date is Friday, December 21st. View StoneCastle Financial's Dividend History.
How were StoneCastle Financial's earnings last quarter?
StoneCastle Financial Corp (NASDAQ:BANX) released its earnings results on Thursday, November, 1st. The investment management company reported $0.40 earnings per share for the quarter, missing analysts' consensus estimates of $0.42 by $0.02. The investment management company earned $4.40 million during the quarter, compared to analyst estimates of $4.56 million. View StoneCastle Financial's Earnings History.
When is StoneCastle Financial's next earnings date?
What price target have analysts set for BANX?
4 analysts have issued 1 year target prices for StoneCastle Financial's stock. Their forecasts range from $23.00 to $25.00. On average, they expect StoneCastle Financial's share price to reach $24.00 in the next twelve months. This suggests a possible upside of 18.8% from the stock's current price. View Analyst Price Targets for StoneCastle Financial.
What is the consensus analysts' recommendation for StoneCastle Financial?
4 Wall Street analysts have issued "buy," "hold," and "sell" ratings for StoneCastle Financial in the last year. There are currently 4 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. " (12/11/2018)
- 2. National Securities analysts commented, " BANX posted NII/share of $0.40 for 3Q18, 2 cents per share shy of our estimate but comfortably above the $0.40/share quarterly dividend. The earnings were below our expectations due to the portfolio being flat on the quarter.
StoneCastle cited the pricing of deals being tight during 9/30/18 with 8 reported sub debt deals for a total of $1.9 billion. The two largest deals had an average coupon of 4.05% ($1.7 billion) while the balance of the deals had a 5.86% average coupon. These rates are significantly below BANX’s calculated all-in effective yield of 9.42% for 3Q18.
We get the impression that banks have not needed as much capital as previously anticipated for two reasons: 1) banks are waiting until the eleventh hour on CECL and the likely increase in sub debt that would entail 2) loan growth has been tepid and banks have not had the need to raise capital as much.
As announced last quarter, Chicago Shore was called and put into a vehicle called first Marquis where the deferred dividends owed to BANX ($1.8 million) as well as a reinvestment of the cost-basis of the investment ($6.6 million) will be paid out to shareholders over time. We think this will support higher earnings going forward even assuming modest portfolio growth.
Despite earnings growth not materializing yet, we continue to think BANX is significantly undervalued from the perspective of its underlying credit. The stock finished 11/2/18 at 90% of NAV and the dividend yield was 296 bps higher than the BAML BBB Corp. YTW index at 10/31/18.
We are revising our 2018 NII/share estimate to $1.63 from $1.66 and our 2019 NII/share estimate to $1.69 from $1.74. We are maintaining our BUY and our $25 price target." (11/5/2018)
Has StoneCastle Financial been receiving favorable news coverage?
News headlines about BANX stock have trended somewhat positive this week, according to InfoTrie. InfoTrie ranks the sentiment of news coverage by analyzing more than six thousand blog and news sources in real time. The firm ranks coverage of publicly-traded companies on a scale of negative five to five, with scores closest to five being the most favorable. StoneCastle Financial earned a daily sentiment score of 0.8 on InfoTrie's scale. They also gave media stories about the investment management company a news buzz of 2.0 out of 10, indicating that recent news coverage is very unlikely to have an effect on the company'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), Westwood Holdings Group (WHG), Fidus Investment (FDUS), Value Line (VALU), Monroe Capital (MRCC), 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), Medley Management (MDLY), U.S. Global Investors (GROW) and BKF Capital Group (BKFG).
Who are StoneCastle Financial's key executives?
StoneCastle Financial's management team includes the folowing people:
- Mr. Joshua Stuart Siegel, Chairman & CEO (Age 47)
- Mr. George Shilowitz, Pres & Director (Age 53)
- Mr. Patrick J. Farrell, Chief Financial Officer (Age 58)
- Ms. Rachel Schatten J.D., Chief Compliance Officer, Gen. Counsel and Sec. (Age 47)
Who are StoneCastle Financial's major shareholders?
StoneCastle Financial's stock is owned by a number of of institutional and retail investors. Top institutional shareholders include Oxbow Advisors LLC (4.14%), Fenimore Asset Management Inc. (1.54%), Man Group plc (0.81%), Oak Grove Capital LLC (0.17%), Private Advisor Group LLC (0.15%) and Acadian Asset Management LLC (0.13%). Company insiders that own StoneCastle Financial stock include Clara Miller and Joshua S Siegel. View Institutional Ownership Trends for StoneCastle Financial.
Which institutional investors are selling StoneCastle Financial stock?
Which institutional investors are buying StoneCastle Financial stock?
BANX stock was purchased by a variety of institutional investors in the last quarter, including Oak Grove Capital LLC, Private Advisor Group LLC, Acadian Asset Management LLC and Oxbow Advisors LLC. Company insiders that have bought StoneCastle Financial stock in the last two years include Clara Miller and Joshua S Siegel. 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 $20.2018.
How big of a company is StoneCastle Financial?
StoneCastle Financial has a market capitalization of $132.90 million and generates $17.37 million in revenue each year. The investment management company earns $12.03 million in net income (profit) each year or $1.59 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.
