StoneCastle Financial Corp. to Host the First Fiscal Quarter 2020 Earnings Conference Call and Announces Net Asset Value as of March 31, 2020
NEW YORK, April 16, 2020 (GLOBE NEWSWIRE) -- StoneCastle Financial Corp., (NASDAQ:BANX) ("StoneCastle Financial" or the “Company”), today announced that the Company’s March 31, 2020 Net Asset Value (“NAV”) was $19.00. The NAV was down ($2.83) or (10.84%) after reinvestment of dividends as compared to the prior quarter-end.
The Company’s first quarter NAV performance was significantly better than the market performance of the Company’s stock and other major financial indices. Specifically, the first quarter 2020 NAV was down (10.84%) vs. the Company’s common stock price decrease of (25.44%). During that same period, the S&P 500 Financials (Sector) decreased (32.34%) and the KBW Bank Index (KBWB) decreased (42.44%).
Over the last five-year period, StoneCastle Financial’s quarterly NAV has been relatively stable and consistent within a tight range of +/-2.5%1. The stability of the NAV over time reflects the management’s abilities to successfully invest the portfolio assets with a long-term strategic focus dedicated to risk-adjusted returns and capital preservation.
StoneCastle Financial will host a conference call for investors and other interested parties beginning at 5:00 p.m. (Eastern Time) on Thursday, May 7, 2020 to discuss the Company’s financial results and investment performance and provide its current views on bank-related assets and the community banking market. The call will be hosted by Sanjai Bhonsle, Chairman and Chief Executive Officer, Patrick Farrell, Chief Financial Officer and Joshua Siegel, Board of Directors, StoneCastle-ArrowMark Asset Management, LLC.
The conference call will be accessible by telephone and the Internet. To access the call, participants from within the U.S. may dial 1-877-407-9039 and participants from outside the U.S. may dial 1-201-689-8470. Participants may also access the call via live webcast by visiting StoneCastle Financial’s investor relations website at .
The replay of the call will be available from approximately 8:00 p.m. (Eastern Time) on May 7, 2020 through midnight (Eastern Time) on May 21, 2020. To access the replay, the domestic dial-in number is 1-844-512-2921, the international dial-in number is 1-412-317-6671 and the passcode is 13701960. The archive of the webcast will be available on the StoneCastle Financial’s website at for a limited time.
About StoneCastle Financial Corp.
StoneCastle Financial is an SEC registered non-diversified, closed-end investment company listed on the NASDAQ Global Select Market under the symbol "BANX.” Its investment objective is to provide stockholders with current income and, to a lesser extent, capital appreciation. StoneCastle Financial is managed by StoneCastle-ArrowMark Asset Management LLC. To learn more, visit .
1 Source: StoneCastle Financial Corp., ; Bloomberg,
Contact:
Julie Muraco
212-468-5441
