StoneCastle Financial Corp (BANX) Rating Lowered to Sell at Zacks Investment Research

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

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. “

A number of other analysts also recently issued reports on the stock. National Securities restated a “buy” rating and set a $23.00 price objective on shares of StoneCastle Financial Corp in a report on Monday. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $23.00 target price on shares of StoneCastle Financial Corp in a research note on Friday, November 10th. JMP Securities upgraded shares of StoneCastle Financial Corp from a “market perform” rating to an “outperform” rating and set a $23.00 target price for the company in a research note on Monday, August 14th. Finally, Oppenheimer Holdings, Inc. set a $21.00 target price on shares of StoneCastle Financial Corp and gave the stock a “buy” rating in a research note on Thursday, August 10th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $22.75.

Shares of StoneCastle Financial Corp (NASDAQ BANX) opened at $20.50 on Monday. StoneCastle Financial Corp has a 1-year low of $18.05 and a 1-year high of $20.95. The stock has a market cap of $133.99, a PE ratio of 13.05 and a beta of 0.20.

StoneCastle Financial Corp (NASDAQ:BANX) last posted its quarterly earnings data on Thursday, November 9th. The investment management company reported $0.40 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.40. The company 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 earnings per share for the current fiscal year.

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Institutional investors and hedge funds have recently bought and sold shares of the company. Wells Fargo & Company MN increased its stake in shares of StoneCastle Financial Corp by 75.2% in the third quarter. Wells Fargo & Company MN now owns 11,147 shares of the investment management company’s stock worth $230,000 after purchasing an additional 4,785 shares in the last quarter. BB&T Securities LLC purchased a new position in shares of StoneCastle Financial Corp in the second quarter worth about $248,000. Northern Trust Corp increased 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 worth $262,000 after purchasing an additional 1,240 shares in the last quarter. Macquarie Group Ltd. purchased a new position in shares of StoneCastle Financial Corp in the third quarter worth about $274,000. Finally, Bard Associates Inc. bought a new position in shares of StoneCastle Financial Corp in the second quarter valued at approximately $422,000. Hedge funds and other institutional investors own 32.05% of the company’s stock.

StoneCastle Financial Corp Company Profile

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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