Oppenheimer analyst Dominick Gabriele maintained a Buy rating on StoneCastle Financial (BANX) yesterday and set a price target of $24. The company’s shares closed on Friday at $19.92, close to its 52-week low of $19.04.
Gabriele commented:
“BANX reported 3Q18 NIE of $0.40/share, a bit lighter than our expectations. The pipeline is subdued as banks are flush with cash from tax reform due in part to better margins from lower tax rates. Management continues to make adjustments within the book and somehow find yielding assets at 9.0%. We are modeling a slightly increasing to stable portfolio as more movement within the book out of lower yielding assets and into higher before the book would likely grow. Interest expense puts pressure on earnings, yet our 2019E may have been too punitive. We continue to see the dividend as secure, and we show slight improvement, although perhaps less than previously in our 2019E. Stability and execution have us continuing to recommend.”
According to TipRanks.com, Gabriele is a 1-star analyst with an average return of -4.1% and a 28.6% success rate. Gabriele covers the Financial sector, focusing on stocks such as Credit Acceptance Corp, Santander Consumer USA, and Capital One Financial.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for StoneCastle Financial with a $24 average price target.
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The company has a one-year high of $24.92 and a one-year low of $19.04. Currently, StoneCastle Financial has an average volume of 14.09K.
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