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

Zacks Investment Research lowered shares of StoneCastle Financial (NASDAQ:BANX) from a hold rating to a sell rating in a report published on Monday morning, 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 reiterated a buy rating and set a $25.00 price target on shares of StoneCastle Financial in a report on Monday, March 4th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $24.50.

Shares of BANX stock opened at $21.66 on Monday. StoneCastle Financial has a 12 month low of $16.75 and a 12 month high of $24.92. The company has a market cap of $141.98 million, a price-to-earnings ratio of 13.21 and a beta of 0.47.

StoneCastle Financial (NASDAQ:BANX) last announced its quarterly earnings results on Thursday, February 28th. The investment management company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.39 by $0.02. The company had revenue of $4.71 million for the quarter, compared to analyst estimates of $4.42 million. Equities research analysts forecast that StoneCastle Financial will post 1.53 EPS for the current year.

Institutional investors have recently made changes to their positions in the company. Advisor Group Inc. grew its stake in shares of StoneCastle Financial by 1,745.5% in the fourth quarter. Advisor Group Inc. now owns 3,691 shares of the investment management company’s stock worth $71,000 after acquiring an additional 3,491 shares during the last quarter. Private Advisor Group LLC grew its stake in shares of StoneCastle Financial by 13.0% in the fourth quarter. Private Advisor Group LLC now owns 10,974 shares of the investment management company’s stock worth $212,000 after acquiring an additional 1,259 shares during the last quarter. Acadian Asset Management LLC grew its stake in shares of StoneCastle Financial by 72.6% in the fourth quarter. Acadian Asset Management LLC now owns 14,322 shares of the investment management company’s stock worth $276,000 after acquiring an additional 6,024 shares during the last quarter. Oak Grove Capital LLC grew its stake in shares of StoneCastle Financial by 45.5% in the fourth quarter. Oak Grove Capital LLC now owns 16,000 shares of the investment management company’s stock worth $309,000 after acquiring an additional 5,000 shares during the last quarter. Finally, Oppenheimer & Co. Inc. grew its stake in shares of StoneCastle Financial by 12.0% in the first quarter. Oppenheimer & Co. Inc. now owns 16,156 shares of the investment management company’s stock worth $346,000 after acquiring an additional 1,737 shares during the last quarter. Institutional investors and hedge funds own 24.92% of the company’s stock.

StoneCastle Financial Company Profile

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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