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

StoneCastle Financial (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 Friday.

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. “

BANX has been the topic of a number of other reports. National Securities restated a “buy” rating and issued a $25.00 price objective on shares of StoneCastle Financial in a report on Monday, March 4th. ValuEngine upgraded shares of StoneCastle Financial from a “hold” rating to a “buy” rating in a report on Tuesday, December 11th. Finally, JMP Securities restated a “buy” rating and issued a $24.00 price objective on shares of StoneCastle Financial in a report on Monday, December 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $24.20.



Shares of BANX traded up $0.91 during midday trading on Friday, reaching $21.89. The stock had a trading volume of 49,259 shares, compared to its average volume of 13,453. StoneCastle Financial has a 1-year low of $16.75 and a 1-year high of $24.92. The firm has a market capitalization of $137.55 million, a price-to-earnings ratio of 13.35 and a beta of 0.47.

Large investors have recently made changes to their positions in the stock. Advisor Group Inc. raised its stake in StoneCastle Financial by 1,745.5% during the 4th 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 in the last quarter. Acadian Asset Management LLC raised its stake in StoneCastle Financial by 240.1% during the 3rd quarter. Acadian Asset Management LLC now owns 8,298 shares of the investment management company’s stock worth $186,000 after acquiring an additional 5,858 shares in the last quarter. Private Advisor Group LLC acquired a new stake in StoneCastle Financial during the 3rd quarter worth $218,000. Oak Grove Capital LLC raised its stake in StoneCastle Financial by 45.5% during the 4th 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 in the last quarter. Finally, Stifel Financial Corp raised its stake in StoneCastle Financial by 35.1% during the 4th quarter. Stifel Financial Corp now owns 135,938 shares of the investment management company’s stock worth $2,617,000 after acquiring an additional 35,313 shares in the last quarter. Hedge funds and other institutional investors own 24.77% 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.

Read More: Strangles

Get a free copy of the Zacks research report on StoneCastle Financial (BANX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for StoneCastle Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for StoneCastle Financial and related companies with MarketBeat.com's FREE daily email newsletter.