The yield is 7.5%, on a unique company that lends $ to a solid US community-based niche industry. Its customer base has been the most stable part of the financial industry. It's currently 9% below analysts' lowest price targets and is also selling below book value. You've probably never heard of it, but it deserves a strong look...
StoneCastle Financial Corp. (BANX) has a very unique business model. It lends money to community banks throughout the US, through preferred equity, subordinated debt and common equity investments and gives income investors a secure, high yield exposure to them. These banks may be much smaller than the money center banks, but they make up for it by having a strong market share in their towns, which can run up to 70% in some cases.
Source: Seeking Alpha
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- Charlie Munger's 10 Rules for Investment Success
- Early Warning Signs of a Dividend Cut
- The Best Dividend Stocks In The World
- Never Fall In Love With A Stock
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