The StoneCastle Financial Corp. (BANX) shares are trading at higher $16.84 and the avg recommendation for the stock is Strong Buy. The current analyst price target stands at $21.33.
To add more color to this target, the company’s high over the last year is $23.92 and the low is $9.25. Over the last 52 weeks, BANX is down -29.60% while the S&P 500 is down -2.55%. The catalyst for this interesting swing was the company’s recent earnings report.
A Notable Earnings Report
In the last quarter, BANX reported a profit of $3.69 million. StoneCastle Financial Corp. also saw revenues increase to $3.69 million. The company’s EBITDA came in at $3.69 million which compares well with its peers.
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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. BANX has a short ratio of 0.07 and outstanding shares of 6.56M.
BANX has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 17700.0 and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -1.11. Investors should also keep an eye on sector updates as BANX has historically followed its peers on positive news.
All told, StoneCastle Financial Corp. BANX has strung together solid data and demonstrated underlying fundamentals. At its current valuation, BANX represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.
StoneCastle Financial Corp. BANX is now commanding a market cap of 110.50M. BANX is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of BANX stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in BANX, either long or short, and we have not been compensated for this article.