StoneCastle Financial (NASDAQ:BANX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.

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. “

A number of other analysts also recently weighed in on the company. Oppenheimer set a $24.00 price objective on StoneCastle Financial and gave the company a “buy” rating in a report on Sunday, November 4th. ValuEngine downgraded StoneCastle Financial from a “buy” rating to a “hold” rating in a report on Tuesday, August 7th. Finally, National Securities restated a “buy” rating and issued a $25.00 price objective on shares of StoneCastle Financial in a report on Monday, November 5th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $24.25.

NASDAQ BANX opened at $20.43 on Tuesday. The firm has a market capitalization of $135.84 million, a P/E ratio of 12.85 and a beta of 0.35. StoneCastle Financial has a twelve month low of $19.04 and a twelve month high of $24.92.

A number of hedge funds and other institutional investors have recently bought and sold shares of BANX. Oxbow Advisors LLC grew its holdings in StoneCastle Financial by 1.9% during the 3rd quarter. Oxbow Advisors LLC now owns 271,104 shares of the investment management company’s stock worth $6,078,000 after acquiring an additional 4,980 shares during the period. Oak Grove Capital LLC acquired a new stake in StoneCastle Financial during the 3rd quarter worth about $247,000. Private Advisor Group LLC acquired a new stake in StoneCastle Financial during the 3rd quarter worth about $218,000. Acadian Asset Management LLC grew its holdings 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 during the period. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in StoneCastle Financial during the 2nd quarter worth about $114,000. Institutional investors and hedge funds own 25.75% 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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