Zacks Investment Research cut shares of StoneCastle Financial Corp (NASDAQ:BANX) from a hold rating to a sell rating in a report issued on Monday 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 research firms have also commented on BANX. National Securities restated a buy rating and set a $23.00 price target on shares of StoneCastle Financial Corp in a research report on Tuesday, August 15th. Keefe, Bruyette & Woods reiterated a buy rating and issued a $22.50 price objective on shares of StoneCastle Financial Corp in a research note on Thursday, August 10th. JMP Securities upgraded StoneCastle Financial Corp from a market perform rating to an outperform rating and set a $23.00 price objective on the stock in a research note on Monday, August 14th. Finally, Oppenheimer Holdings, Inc. set a $21.00 price objective on StoneCastle Financial Corp and gave the company a buy rating in a research note on Thursday, August 10th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $22.75.

StoneCastle Financial Corp (BANX) opened at $20.35 on Monday. StoneCastle Financial Corp has a 52-week low of $18.08 and a 52-week high of $20.95. The company has a market capitalization of $134.44, a price-to-earnings ratio of 13.09 and a beta of 0.20.

StoneCastle Financial Corp (NASDAQ:BANX) last released its quarterly earnings results on Thursday, November 9th. The investment management company reported $0.40 EPS for the quarter, hitting the consensus estimate of $0.40. The firm had revenue of $4.36 million for the quarter, compared to analysts’ expectations of $4.40 million. analysts forecast that StoneCastle Financial Corp will post 1.57 EPS for the current fiscal year.

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Several hedge funds and other institutional investors have recently made changes to their positions in BANX. BB&T Securities LLC acquired a new stake in shares of StoneCastle Financial Corp in the second quarter valued at $248,000. Bard Associates Inc. acquired a new stake in shares of StoneCastle Financial Corp in the second quarter valued at $422,000. Northern Trust Corp raised its stake in shares of StoneCastle Financial Corp by 10.7% in the second quarter. Northern Trust Corp now owns 12,870 shares of the investment management company’s stock valued at $262,000 after acquiring an additional 1,240 shares in the last quarter. Stifel Financial Corp raised its stake in shares of StoneCastle Financial Corp by 62.8% in the second quarter. Stifel Financial Corp now owns 93,954 shares of the investment management company’s stock valued at $1,914,000 after acquiring an additional 36,245 shares in the last quarter. Finally, Macquarie Group Ltd. acquired a new stake in shares of StoneCastle Financial Corp in the third quarter valued at $274,000. Institutional investors and hedge funds own 32.05% of the company’s stock.

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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