StoneCastle Financial (NASDAQ:BANX) Cut to “Sell” at Zacks Investment Research

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Zacks Investment Research cut shares of StoneCastle Financial (NASDAQ:BANX) from a hold rating to a sell rating in a research note issued to investors on Tuesday 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 reaffirmed a buy rating and issued a $25.00 target price on shares of StoneCastle Financial in a report on Monday, May 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $24.50.

Shares of StoneCastle Financial stock opened at $21.90 on Tuesday. The firm’s fifty day simple moving average is $21.84 and its 200-day simple moving average is $21.58. The stock has a market capitalization of $145.46 million, a price-to-earnings ratio of 14.13 and a beta of 0.43. StoneCastle Financial has a 12 month low of $16.75 and a 12 month high of $23.00.

Several institutional investors have recently made changes to their positions in the company. Brinker Capital Inc. acquired a new position in StoneCastle Financial during the first quarter valued at approximately $461,000. Oppenheimer & Co. Inc. boosted its position in StoneCastle Financial by 12.0% during the first quarter. Oppenheimer & Co. Inc. now owns 16,156 shares of the investment management company’s stock valued at $346,000 after purchasing an additional 1,737 shares during the last quarter. Oxbow Advisors LLC boosted its position in StoneCastle Financial by 0.5% during the first quarter. Oxbow Advisors LLC now owns 281,207 shares of the investment management company’s stock valued at $6,025,000 after purchasing an additional 1,279 shares during the last quarter. Oak Grove Capital LLC boosted its position in StoneCastle Financial by 40.7% during the first quarter. Oak Grove Capital LLC now owns 22,516 shares of the investment management company’s stock valued at $482,000 after purchasing an additional 6,516 shares during the last quarter. Finally, Hilton Capital Management LLC acquired a new position in StoneCastle Financial during the first quarter valued at approximately $1,175,000. 25.78% of the stock is currently owned by institutional investors and hedge funds.

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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