StoneCastle Financial Corp. (BANX) Position Cut by Deprince Race & Zollo Inc.
Deprince Race & Zollo Inc. reduced its stake in shares of StoneCastle Financial Corp. (NASDAQ:BANX) by 0.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 171,643 shares of the investment management company’s stock after selling 63 shares during the period. Deprince Race & Zollo Inc.’s holdings in StoneCastle Financial Corp. were worth $3,205,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in BANX. Punch & Associates Investment Management Inc. raised its position in StoneCastle Financial Corp. by 9.4% in the second quarter. Punch & Associates Investment Management Inc. now owns 594,088 shares of the investment management company’s stock worth $10,896,000 after buying an additional 50,985 shares in the last quarter. Oxbow Advisors LLC raised its position in StoneCastle Financial Corp. by 31.5% in the third quarter. Oxbow Advisors LLC now owns 192,562 shares of the investment management company’s stock worth $3,594,000 after buying an additional 46,151 shares in the last quarter. M3F Inc. raised its position in StoneCastle Financial Corp. by 57.3% in the second quarter. M3F Inc. now owns 100,000 shares of the investment management company’s stock worth $1,834,000 after buying an additional 36,409 shares in the last quarter. GSA Capital Partners LLP acquired a new position in StoneCastle Financial Corp. during the second quarter worth approximately $290,000. Finally, Van Hulzen Asset Management LLC acquired a new position in StoneCastle Financial Corp. during the third quarter worth approximately $280,000. 30.95% of the stock is currently owned by institutional investors and hedge funds.
StoneCastle Financial Corp. (NASDAQ:BANX) remained flat at $18.77 during midday trading on Monday. 11,194 shares of the stock were exchanged. StoneCastle Financial Corp. has a 1-year low of $13.81 and a 1-year high of $19.36. The company has a 50-day moving average of $18.31 and a 200-day moving average of $18.27.
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Several brokerages have recently issued reports on BANX. Zacks Investment Research lowered StoneCastle Financial Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, August 16th. National Securities reaffirmed a “buy” rating and set a $21.00 price target on shares of StoneCastle Financial Corp. in a research note on Tuesday, August 16th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $20.63.
About StoneCastle Financial Corp.
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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