Zacks Investment Research lowered shares of StoneCastle Financial (NASDAQ:BANX) from a hold rating to a sell rating in a research note 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. “

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

Shares of StoneCastle Financial (NASDAQ BANX) traded up $0.33 during mid-day trading on Tuesday, hitting $21.04. The stock had a trading volume of 83,954 shares, compared to its average volume of 119,050. StoneCastle Financial has a twelve month low of $18.87 and a twelve month high of $21.25. The stock has a market capitalization of $131.70, a P/E ratio of 11.95 and a beta of 0.20.

StoneCastle Financial (NASDAQ:BANX) last issued its quarterly earnings results on Thursday, November 9th. The investment management company reported $0.40 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.40. The business had revenue of $4.36 million for the quarter, compared to analysts’ expectations of $4.40 million. sell-side analysts forecast that StoneCastle Financial will post 1.57 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Friday, December 22nd will be given a dividend of $0.38 per share. The ex-dividend date is Thursday, December 21st. This represents a $1.52 dividend on an annualized basis and a yield of 7.22%. StoneCastle Financial’s payout ratio is 86.36%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Northern Trust Corp boosted its position in StoneCastle Financial by 10.7% during the second quarter. Northern Trust Corp now owns 12,870 shares of the investment management company’s stock valued at $262,000 after purchasing an additional 1,240 shares during the last quarter. BB&T Securities LLC boosted its position in StoneCastle Financial by 32.0% during the third quarter. BB&T Securities LLC now owns 16,100 shares of the investment management company’s stock valued at $332,000 after purchasing an additional 3,900 shares during the last quarter. Wells Fargo & Company MN boosted its position in StoneCastle Financial by 75.2% during the third quarter. Wells Fargo & Company MN now owns 11,147 shares of the investment management company’s stock valued at $230,000 after purchasing an additional 4,785 shares during the last quarter. Stifel Financial Corp boosted its position in StoneCastle Financial by 13.6% during the third quarter. Stifel Financial Corp now owns 106,710 shares of the investment management company’s stock valued at $2,197,000 after purchasing an additional 12,756 shares during the last quarter. Finally, Macquarie Group Ltd. acquired a new stake in StoneCastle Financial during the third quarter valued at $274,000. 32.43% of the stock is owned by hedge funds and other institutional investors.

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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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