StoneCastle Financial (NASDAQ:BANX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Monday.

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. “

Other equities analysts have also issued research reports about the company. National Securities reaffirmed a “buy” rating and issued a $23.00 price target on shares of StoneCastle Financial in a research note on Monday, November 13th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $23.00 price target on shares of StoneCastle Financial in a research note on Friday, November 10th. Finally, Oppenheimer set a $22.00 price target on StoneCastle Financial and gave the company a “buy” rating in a research note on Monday, November 13th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $22.75.

Shares of StoneCastle Financial (NASDAQ BANX) traded up $0.09 during trading on Monday, hitting $21.16. The stock had a trading volume of 23,542 shares, compared to its average volume of 82,850. StoneCastle Financial has a twelve month low of $19.00 and a twelve month high of $21.25. The firm has a market cap of $137.84, a price-to-earnings ratio of 11.97 and a beta of 0.20.

StoneCastle Financial (NASDAQ:BANX) last announced its quarterly earnings results on Thursday, November 9th. The investment management company reported $0.40 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.40. The business had revenue of $4.36 million during the quarter, compared to analyst estimates of $4.40 million. research analysts forecast that StoneCastle Financial will post 1.58 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in BANX. Northern Trust Corp lifted its stake in StoneCastle Financial by 10.7% during the 2nd quarter. Northern Trust Corp now owns 12,870 shares of the investment management company’s stock worth $262,000 after acquiring an additional 1,240 shares in the last quarter. BB&T Securities LLC lifted its stake in StoneCastle Financial by 32.0% during the 3rd quarter. BB&T Securities LLC now owns 16,100 shares of the investment management company’s stock worth $332,000 after acquiring an additional 3,900 shares in the last quarter. Wells Fargo & Company MN lifted its stake in StoneCastle Financial by 75.2% during the 3rd quarter. Wells Fargo & Company MN now owns 11,147 shares of the investment management company’s stock worth $230,000 after acquiring an additional 4,785 shares in the last quarter. Stifel Financial Corp lifted its stake in StoneCastle Financial by 13.6% during the 3rd quarter. Stifel Financial Corp now owns 106,710 shares of the investment management company’s stock worth $2,197,000 after acquiring an additional 12,756 shares in the last quarter. Finally, Macquarie Group Ltd. acquired a new position in StoneCastle Financial during the 3rd quarter worth about $274,000. 32.43% of the stock is currently owned by institutional investors and hedge funds.

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About StoneCastle Financial

StoneCastle Financial Corp. is a non-diversified, closed-end management investment company. The Company’s primary investment objective is to provide stockholders with current income, and to a lesser extent capital appreciation. The Company generally invests in the senior debt, subordinated debt, preferred shares and common stock of community banks.

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