StoneCastle Financial (NASDAQ:BANX) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research downgraded shares of StoneCastle Financial (NASDAQ:BANX) from a hold rating to a sell rating in a report published on Tuesday, Zacks.com reports.

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. “

Separately, National Securities reissued a buy rating and issued a $25.00 price target on shares of StoneCastle Financial in a report on Monday, May 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $24.50.

Shares of NASDAQ BANX opened at $21.99 on Tuesday. StoneCastle Financial has a twelve month low of $16.75 and a twelve month high of $23.00. The company has a market capitalization of $144.03 million, a price-to-earnings ratio of 13.41 and a beta of 0.43. The firm has a 50-day moving average of $21.84 and a two-hundred day moving average of $21.58.

A number of hedge funds have recently bought and sold shares of BANX. Stonebridge Capital Advisors LLC purchased a new stake in shares of StoneCastle Financial in the second quarter valued at about $41,000. Oxbow Advisors LLC boosted its holdings in shares of StoneCastle Financial by 1.1% in the second quarter. Oxbow Advisors LLC now owns 284,392 shares of the investment management company’s stock valued at $6,201,000 after acquiring an additional 3,185 shares in the last quarter. Greenwich Investment Management Inc. boosted its holdings in shares of StoneCastle Financial by 0.5% in the second quarter. Greenwich Investment Management Inc. now owns 169,168 shares of the investment management company’s stock valued at $3,689,000 after acquiring an additional 882 shares in the last quarter. Punch & Associates Investment Management Inc. boosted its holdings in shares of StoneCastle Financial by 1.7% in the first quarter. Punch & Associates Investment Management Inc. now owns 422,637 shares of the investment management company’s stock valued at $9,055,000 after acquiring an additional 7,001 shares in the last quarter. Finally, Hilton Capital Management LLC purchased a new stake in shares of StoneCastle Financial in the first quarter valued at about $1,175,000. 25.78% of the stock is owned by institutional investors.

About StoneCastle Financial

StoneCastle Financial Corp. is a closed ended balanced mutual fund launched and managed by StoneCastle Asset Management LLC. It invests in public equity markets of the United States. The fund invests in stocks of companies operating across the banking sector. It invests in dividend paying growth and value stocks of companies.

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