StoneCastle Financial Corp. (BANX) Sets New 1-Year High at $19.36
StoneCastle Financial Corp. (NASDAQ:BANX)’s share price reached a new 52-week high during trading on Friday . The company traded as high as $19.36 and last traded at $19.19, with a volume of 28,086 shares traded. The stock had previously closed at $19.06.
BANX has been the subject of a number of analyst reports. Zacks Investment Research downgraded shares of StoneCastle Financial Corp. from a “hold” rating to a “sell” rating in a report on Monday, April 11th. Robert W. Baird reaffirmed a “buy” rating on shares of StoneCastle Financial Corp. in a report on Sunday, May 8th. National Securities reaffirmed a “buy” rating and set a $21.00 price objective (down from $22.00) on shares of StoneCastle Financial Corp. in a report on Monday, May 9th. Finally, Keefe, Bruyette & Woods raised shares of StoneCastle Financial Corp. from a “market perform” rating to an “outperform” rating and set a $19.50 price objective for the company in a report on Wednesday, June 1st. One analyst has rated the stock with a sell rating and five have given a buy rating to the stock. StoneCastle Financial Corp. currently has a consensus rating of “Buy” and an average price target of $20.58.
The stock has a 50 day moving average price of $18.55 and a 200 day moving average price of $17.16.
StoneCastle Financial Corp. is a non-diversified, closed-end management investment company. The Company’s primary investment objective is to provide stockholders with current income, and to a lesser extent capital appreciation. The Company generally invests in the senior debt, subordinated debt, preferred shares and common stock of community banks.
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