Below are the dividend stocks that were subject to analyst moves before the bell. Analysts weigh in with insight and commentary as to what you can expect going forward.
1. JP Morgan Chase Upgraded by Keefe Bruyette & Woods
New York-based bank JP Morgan Chase (JPM ) saw its stock upgraded to Outperform on Monday, with Keefe Bruyette & Woods increasing their price target to $77. Finishing Friday’s session at $67.89 (up 0.5%), JP Morgan Chase’s adjusted dividend yield is 2.59%, with an annual payout of $1.76 (paid quarterly). The stock is 3.85% from its 52-week high.
2. Polyone Corporation Upgraded by Goldman Sachs
Polyone Corporation (POL ), the polymer specialist, was upgraded by Goldman Sachs on Monday, with the bank putting the stock on their Buy list. Their new price target is $41. The company missed Q2 estimates in July, with an EPS of $0.57. Analysts had expected earnings of 58 cents per share. Finishing Friday’s session at $33.56 (up 1%), Polyone’s adjusted dividend yield is 1.19%, with an annual payout of $0.40 (paid quarterly). The stock is 18.54% from its 52-week high.
3. StoneCastle Financial Upgraded by Baird
Community bank investor StoneCastle Financial (BANX ) saw its stock upgraded on Monday, with Baird shifting their rating to Outperform. Their new price target is $19. Announcing an 8.35% yield from its portfolio, the investment firm met analysts’ expectations, with earnings of 36 cents per share. Finishing Friday’s session at $16.62 (up 6.2%), StoneCastle Financial’s adjusted dividend yield is 7.94%, with an annual payout of $1.32 (paid quarterly). The stock is 37.52% from its 52-week high.
4. Cytec Industries Downgraded by Goldman Sachs
Cytec Industries (CYT ) was downgraded by Goldman Sachs on Monday, with the investment bank confirming a Neutral rating. Their new target price is $68. This comes after the company announced a $5.5 billion merger with Belgium-based Solvay. Finishing Friday’s session at $74.14, Cytec Industries’ adjusted dividend yield is 0.67%, with an annual payout of $0.50. The stock is 0.72% from its 52-week high.
5. Summit Midstream Partners Downgraded by Baird
Midstream energy company Summit Midstream Partners (SMLP ) saw its stock downgraded to Neutral by Baird on Monday, with a new price target of $26. Finishing Friday’s session at $25.03 (up 4.5%), Summit Midstream Partners’ adjusted dividend yield is 9.03%, with an annual payout of $2.26. The stock is 55.69% from its 52-week high.
6. Huntsman Corp. Downgraded by Goldman Sachs
Synthetics producer Huntsman Corp. (HUN ) was removed from Goldman Sachs’ Conviction Buy list on Monday. Finishing Friday’s session at $16.75 (up 0.7%), HUN’s adjusted dividend yield is 2.99%, with an annual payout of $0.50. The stock is 42.89% from its 52-week high.
