Zacks Investment Research Downgrades StoneCastle Financial (BANX) to Sell

StoneCastle Financial (NASDAQ:BANX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Monday, Zacks.com reports.

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. “

BANX has been the subject of several other reports. National Securities reiterated a “buy” rating and set a $25.00 target price on shares of StoneCastle Financial in a research note on Monday, March 4th. ValuEngine cut StoneCastle Financial from a “buy” rating to a “hold” rating in a research note on Monday, December 17th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $24.50.

StoneCastle Financial stock opened at $21.80 on Monday. The company has a market cap of $142.79 million, a PE ratio of 13.29 and a beta of 0.47. StoneCastle Financial has a 52 week low of $16.75 and a 52 week high of $24.92.

Several institutional investors have recently added to or reduced their stakes in the company. Oak Grove Capital LLC boosted its stake in shares of StoneCastle Financial by 45.5% during the 4th quarter. Oak Grove Capital LLC now owns 16,000 shares of the investment management company’s stock valued at $309,000 after buying an additional 5,000 shares during the last quarter. Stifel Financial Corp boosted its stake in shares of StoneCastle Financial by 35.1% during the 4th quarter. Stifel Financial Corp now owns 135,938 shares of the investment management company’s stock valued at $2,617,000 after buying an additional 35,313 shares during the last quarter. Advisor Group Inc. boosted its stake in shares of StoneCastle Financial by 1,745.5% during the 4th quarter. Advisor Group Inc. now owns 3,691 shares of the investment management company’s stock valued at $71,000 after buying an additional 3,491 shares during the last quarter. Private Advisor Group LLC raised its position in shares of StoneCastle Financial by 13.0% during the 4th quarter. Private Advisor Group LLC now owns 10,974 shares of the investment management company’s stock valued at $212,000 after acquiring an additional 1,259 shares in the last quarter. Finally, Acadian Asset Management LLC raised its position in shares of StoneCastle Financial by 72.6% during the 4th quarter. Acadian Asset Management LLC now owns 14,322 shares of the investment management company’s stock valued at $276,000 after acquiring an additional 6,024 shares in the last quarter. Institutional investors own 24.74% 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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