Zacks Investment Research Lowers StoneCastle Financial (BANX) to Sell

Zacks Investment Research lowered shares of StoneCastle Financial (NASDAQ:BANX) from a hold rating to a sell rating in a research note released on Tuesday morning.

According to Zacks, “StoneCastle Financial Corp. is a closed-end investment company. It invests in community banks located throughout the United States. The Company’s primary investment objective is to provide stockholders with current income, and to a lesser extent, capital appreciation, through preferred equity, subordinated debt and common equity investments predominantly in U.S. domiciled community banks. StoneCastle Financial Corp. is based in United States. “

Several other equities research analysts have also issued reports on the stock. National Securities reissued a buy rating and issued a $25.00 price target on shares of StoneCastle Financial in a report on Monday, November 5th. Oppenheimer set a $24.00 target price on shares of StoneCastle Financial and gave the company a buy rating in a research note on Sunday, November 4th. Finally, ValuEngine downgraded shares of StoneCastle Financial from a buy rating to a hold rating in a research note on Tuesday, August 7th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $24.25.

Shares of StoneCastle Financial stock opened at $20.50 on Tuesday. The firm has a market capitalization of $132.86 million, a price-to-earnings ratio of 12.89 and a beta of 0.35. StoneCastle Financial has a 52-week low of $19.04 and a 52-week high of $24.92.

Large investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of StoneCastle Financial in the 2nd quarter valued at $114,000. Oxbow Advisors LLC boosted its stake in shares of StoneCastle Financial by 1.9% in the 3rd quarter. Oxbow Advisors LLC now owns 271,104 shares of the investment management company’s stock valued at $6,078,000 after purchasing an additional 4,980 shares in the last quarter. Private Advisor Group LLC acquired a new stake in shares of StoneCastle Financial in the 3rd quarter valued at $218,000. Oak Grove Capital LLC acquired a new stake in shares of StoneCastle Financial in the 3rd quarter valued at $247,000. Finally, Acadian Asset Management LLC boosted its stake in shares of StoneCastle Financial by 240.1% in the 3rd quarter. Acadian Asset Management LLC now owns 8,298 shares of the investment management company’s stock valued at $186,000 after purchasing an additional 5,858 shares in the last quarter. Institutional investors own 25.75% of the company’s stock.

StoneCastle Financial Company Profile

StoneCastle Financial Corp. is a closed ended balanced mutual fund launched and managed by StoneCastle Asset Management LLC. It invests in public equity markets of the United States. The fund invests in stocks of companies operating across the banking sector. It invests in dividend paying growth and value stocks of companies.

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