Zacks Investment Research Lowers StoneCastle Financial (BANX) to Sell

Zacks Investment Research lowered shares of StoneCastle Financial (NASDAQ:BANX) from a hold rating to a sell rating in a report issued 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 issued a $25.00 price target on shares of StoneCastle Financial in a research note on Monday, March 4th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $24.50.



NASDAQ:BANX opened at $21.99 on Monday. The stock has a market capitalization of $144.10 million, a P/E ratio of 13.41 and a beta of 0.47. StoneCastle Financial has a one year low of $16.75 and a one year high of $24.92.

StoneCastle Financial (NASDAQ:BANX) last posted its quarterly earnings results on Thursday, February 28th. The investment management company reported $0.41 EPS for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.02. The firm had revenue of $4.71 million during the quarter, compared to analyst estimates of $4.42 million. Analysts anticipate that StoneCastle Financial will post 1.53 EPS for the current fiscal year.

A number of large investors have recently bought and sold shares of the stock. Punch & Associates Investment Management Inc. grew its stake in 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 worth $9,055,000 after purchasing an additional 7,001 shares in the last quarter. Oxbow Advisors LLC boosted its stake in StoneCastle Financial by 0.5% in the first quarter. Oxbow Advisors LLC now owns 281,207 shares of the investment management company’s stock valued at $6,025,000 after acquiring an additional 1,279 shares during the period. Stifel Financial Corp boosted its stake in StoneCastle Financial by 35.1% in the fourth quarter. Stifel Financial Corp now owns 135,938 shares of the investment management company’s stock valued at $2,617,000 after acquiring an additional 35,313 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its stake in StoneCastle Financial by 5.5% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 134,460 shares of the investment management company’s stock valued at $2,881,000 after acquiring an additional 7,013 shares during the period. Finally, Hilton Capital Management LLC acquired a new position in StoneCastle Financial in the first quarter valued at approximately $1,175,000. Institutional investors and hedge funds own 24.92% of the company’s stock.

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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