ArrowMark Financial Corp Stock Price, News & Analysis

StoneCastle Financial Corp (NASDAQ: BANX) reported its third fiscal quarter results for 2020, highlighting significant investment activities. The company invested approximately $23.7 million in three investments, with realized proceeds of $45.9 million from two investment sales and $3.9 million from partial paydowns. The estimated annualized yield for the invested portfolio was 9.18%. Net investment income reached $2.75 million or $0.42 per share, while net assets totaled $137.1 million, increasing its net asset value to $20.89 per share.

StoneCastle Financial Corp. (NASDAQ: BANX) reported a September 30, 2020 Net Asset Value (NAV) of $20.93, reflecting a $0.11 decrease from the previous month, largely due to a dividend payout of $0.38 per share on September 30, 2020. However, after reinvesting this dividend, the NAV increased by 1.55% month-over-month. The company will discuss its financial results and the community banking market in a conference call scheduled for November 12, 2020, at 5:00 p.m. Eastern Time.

StoneCastle Financial Corp. (NASDAQ: BANX) has declared a cash distribution of $0.38 per share for Q3 2020, payable on September 30, 2020, to shareholders of record by September 25, 2020. A portion of the distributions may include sources beyond net investment income, such as a return of capital. Shareholders will receive a notice detailing the estimated components at the time of payment. The company aims to provide current income and capital appreciation, managed by StoneCastle-ArrowMark Asset Management.

StoneCastle Financial Corp. (BANX) reported its second fiscal quarter results for 2020, highlighting a $36.3 million investment in six opportunities and $5 million in proceeds from a partial sale. The estimated annualized yield of their portfolio was approximately 10.10%. Net investment income reached $2.66 million, or $0.41 per share, with net assets totaling $133 million. The company paid a cash distribution of $0.38 per share on June 26, 2020. As of quarter-end, total assets stood at $173.98 million, comprising $165.76 million in investments and $8.23 million in cash.

StoneCastle Financial Corp. (NASDAQ: BANX) announced an increase in its June 30, 2020 Net Asset Value (NAV) to $20.27, reflecting a $1.27 or 9.06% rise from the previous quarter after reinvestment of dividends. The company is scheduled to hold a conference call on August 6, 2020, at 5:00 p.m. ET to discuss financial results and investment performance. The call will feature CEO Sanjai Bhonsle and CFO Patrick Farrell, and will be accessible via phone and webcast.

StoneCastle Financial Corp. (BANX) announced changes to its Annual Meeting of Stockholders due to COVID-19. The meeting will now be held virtually on June 19, 2020, at 2:30 PM ET. Stockholders must register in advance to attend and vote, with the record date set as April 23, 2020. Instructions for registration and participation are provided, emphasizing the importance of proxy voting. The definitive proxy statement was filed with the SEC on May 19, 2020, and is accessible online.

StoneCastle Financial Corp. (BANX) announced first-quarter financial results for 2020, reporting net investment income of $2.53 million, or $0.39 per share, alongside net realized capital losses of $301,223, equating to ($0.05) per share. The company's net assets totaled $124.68 million with a net asset value of $19.00 per share, reflecting a decline of $2.83 from the previous quarter. Total assets stood at $134.92 million, with significant redemptions totaling $10.4 million from two investments. A cash distribution of $0.38 per share was also made on March 25, 2020.