StoneCastle Financial Corp (BANX) Downgraded by 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 note issued 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. “

Several other research analysts also recently weighed in on BANX. Keefe, Bruyette & Woods restated a “buy” rating and issued a $22.50 price target on shares of StoneCastle Financial Corp in a research note on Thursday, August 10th. Oppenheimer Holdings, Inc. set a $21.00 price target on StoneCastle Financial Corp and gave the stock a “buy” rating 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 target for the company in a research note on Monday, August 14th. Finally, National Securities restated a “buy” rating and issued a $23.00 price target on shares of StoneCastle Financial Corp in a research note on Tuesday, August 15th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. StoneCastle Financial Corp has a consensus rating of “Buy” and a consensus price target of $22.50.

StoneCastle Financial Corp (BANX) traded up $0.19 during trading on Monday, reaching $20.36. 8,500 shares of the company traded hands, compared to its average volume of 12,419. StoneCastle Financial Corp has a one year low of $17.81 and a one year high of $20.95. The stock has a market cap of $133.20, a price-to-earnings ratio of 12.97 and a beta of 0.20.

StoneCastle Financial Corp (NASDAQ:BANX) last posted its quarterly earnings results on Thursday, November 9th. The investment management company reported $0.40 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.40. The business had revenue of $4.36 million during the quarter, compared to the consensus estimate of $4.40 million. sell-side analysts expect that StoneCastle Financial Corp will post 1.58 EPS for the current fiscal year.

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A number of large investors have recently added to or reduced their stakes in BANX. Wells Fargo & Company MN raised its holdings in StoneCastle Financial Corp by 75.2% during the 3rd quarter. Wells Fargo & Company MN now owns 11,147 shares of the investment management company’s stock valued at $230,000 after buying an additional 4,785 shares during the period. BB&T Securities LLC purchased a new stake in StoneCastle Financial Corp during the 2nd quarter valued at $248,000. Northern Trust Corp raised its holdings in StoneCastle Financial Corp by 10.7% during the 2nd quarter. Northern Trust Corp now owns 12,870 shares of the investment management company’s stock valued at $262,000 after buying an additional 1,240 shares during the period. Macquarie Group Ltd. purchased a new stake in StoneCastle Financial Corp during the 3rd quarter valued at $274,000. Finally, Bard Associates Inc. purchased a new stake in StoneCastle Financial Corp during the 2nd quarter valued at $422,000. 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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