StoneCastle Financial Corp (NASDAQ:BANX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

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 brokerages have also recently issued reports on BANX. National Securities reissued a “buy” rating and issued a $23.00 price objective on shares of StoneCastle Financial Corp in a research note on Monday, May 8th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $22.50 price objective on shares of StoneCastle Financial Corp in a research note on Thursday. Finally, Oppenheimer Holdings, Inc. set a $21.00 price objective on StoneCastle Financial Corp and gave the stock a “buy” rating in a research note on Tuesday, May 9th.

StoneCastle Financial Corp (NASDAQ:BANX) traded up 0.30% during trading on Friday, reaching $20.30. The company had a trading volume of 9,058 shares. StoneCastle Financial Corp has a one year low of $17.68 and a one year high of $20.95. The firm’s 50 day moving average is $20.33 and its 200 day moving average is $19.96.

StoneCastle Financial Corp (NASDAQ:BANX) last announced its quarterly earnings data on Wednesday, August 9th. The investment management company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by $0.02. The company had revenue of $4.26 million during the quarter, compared to the consensus estimate of $4.44 million. On average, analysts anticipate that StoneCastle Financial Corp will post $1.69 EPS for the current fiscal year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in BANX. Oxbow Advisors LLC boosted its position in shares of StoneCastle Financial Corp by 25.7% in the first quarter. Oxbow Advisors LLC now owns 241,882 shares of the investment management company’s stock valued at $4,876,000 after buying an additional 49,466 shares during the period. Greenwich Investment Management Inc. boosted its stake in shares of StoneCastle Financial Corp by 25.6% in the first quarter. Greenwich Investment Management Inc. now owns 132,321 shares of the investment management company’s stock valued at $2,667,000 after buying an additional 26,930 shares during the period. Stifel Financial Corp boosted its stake in shares of StoneCastle Financial Corp by 12.8% in the first quarter. Stifel Financial Corp now owns 57,709 shares of the investment management company’s stock valued at $1,161,000 after buying an additional 6,564 shares during the period. Bard Associates Inc. bought a new stake in shares of StoneCastle Financial Corp during the second quarter valued at about $422,000. Finally, Baird Financial Group Inc. boosted its stake in shares of StoneCastle Financial Corp by 8.7% in the first quarter. Baird Financial Group Inc. now owns 15,939 shares of the investment management company’s stock valued at $321,000 after buying an additional 1,279 shares during the period. 34.92% of the stock is currently owned by institutional investors.

About StoneCastle Financial Corp

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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