StoneCastle Financial Corp (BANX) to Issue Quarterly Dividend of $0.38 on September 30th

StoneCastle Financial Corp (NASDAQ:BANX) announced a quarterly dividend on Friday, September 11th, Zacks reports. Stockholders of record on Friday, September 25th will be given a dividend of 0.38 per share by the investment management company on Wednesday, September 30th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.21%. The ex-dividend date of this dividend is Thursday, September 24th.

StoneCastle Financial has increased its dividend 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% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline.

Shares of StoneCastle Financial stock opened at $18.51 on Tuesday. The firm has a market cap of $121.46 million, a PE ratio of 308.55 and a beta of 0.80. StoneCastle Financial has a 52-week low of $9.25 and a 52-week high of $23.92. The business’s 50 day simple moving average is $18.81 and its 200 day simple moving average is $17.08.

StoneCastle Financial (NASDAQ:BANX) last posted its quarterly earnings results on Thursday, August 6th. The investment management company reported $0.41 earnings per share for the quarter. The company had revenue of $4.02 million for the quarter.

Several analysts recently issued reports on the company. ValuEngine downgraded StoneCastle Financial from a “hold” rating to a “sell” rating in a research note on Monday, August 3rd. National Securities assumed coverage on StoneCastle Financial in a research note on Monday, June 15th. They issued a “buy” rating and a $20.00 price target 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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Dividend History for StoneCastle Financial (NASDAQ:BANX)

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