StoneCastle Financial Corp (NASDAQ:BANX) announced a quarterly dividend on Friday, September 11th, Zacks reports. Shareholders of record on Friday, September 25th will be paid a dividend of 0.38 per share by the investment management company on Wednesday, September 30th. This represents a $1.52 annualized dividend and a yield of 8.21%. The ex-dividend date of this dividend is Thursday, September 24th.
StoneCastle Financial has increased its dividend payment by 4.1% over the last three years and has increased its dividend every year for the last 1 years. StoneCastle Financial has a dividend payout ratio of 94.4% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble.
Shares of BANX stock opened at $18.51 on Tuesday. The stock has a market cap of $121.46 million, a P/E ratio of 308.55 and a beta of 0.80. StoneCastle Financial has a one year low of $9.25 and a one year high of $23.92. The company has a fifty day moving average price of $18.81 and a two-hundred day moving average price of $17.08.
BANX has been the subject of a number of research reports. ValuEngine downgraded StoneCastle Financial from a “hold” rating to a “sell” rating in a research report on Monday, August 3rd. National Securities initiated coverage on shares of StoneCastle Financial in a research note on Monday, June 15th. They set a “buy” rating and a $20.00 price objective for the company.
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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