StoneCastle Financial Corp. (NASDAQ:BANX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released 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. “

Separately, National Securities restated a “buy” rating and set a $21.00 price objective on shares of StoneCastle Financial Corp. in a report on Tuesday, August 16th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $20.63.

StoneCastle Financial Corp. (NASDAQ:BANX) opened at 18.05 on Tuesday. The company’s 50-day moving average is $18.34 and its 200-day moving average is $18.23. The firm has a market capitalization of $117.76 million, a PE ratio of 31.45 and a beta of 0.18. StoneCastle Financial Corp. has a 52-week low of $13.81 and a 52-week high of $19.36.

A number of institutional investors have recently modified their holdings of BANX. Morgan Stanley raised its position in shares of StoneCastle Financial Corp. by 119.0% in the third quarter. Morgan Stanley now owns 9,200 shares of the investment management company’s stock worth $171,000 after buying an additional 5,000 shares in the last quarter. Northern Trust Corp raised its position in StoneCastle Financial Corp. by 0.7% in the third quarter. Northern Trust Corp now owns 11,120 shares of the investment management company’s stock worth $207,000 after buying an additional 79 shares during the period. Clear Harbor Asset Management LLC raised its position in StoneCastle Financial Corp. by 62.6% in the third quarter. Clear Harbor Asset Management LLC now owns 16,272 shares of the investment management company’s stock worth $304,000 after buying an additional 6,263 shares during the period. Oppenheimer & Co. Inc. raised its position in StoneCastle Financial Corp. by 5.8% in the third quarter. Oppenheimer & Co. Inc. now owns 26,336 shares of the investment management company’s stock worth $492,000 after buying an additional 1,435 shares during the period. Finally, Van Hulzen Asset Management LLC purchased a new position in StoneCastle Financial Corp. during the third quarter worth approximately $280,000. Hedge funds and other institutional investors own 29.72% of the company’s stock.

StoneCastle Financial Corp. Company Profile

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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