Analysts Set StoneCastle Financial Corp (BANX) Price Target at $24.00

Shares of StoneCastle Financial Corp (NASDAQ:BANX) have earned a consensus recommendation of “Buy” from the six analysts that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $24.00.

Several research analysts recently issued reports on BANX shares. Oppenheimer set a $24.00 target price on shares of StoneCastle Financial and gave the stock a “buy” rating in a research report on Sunday, November 4th. Zacks Investment Research lowered shares of StoneCastle Financial from a “buy” rating to a “hold” rating in a research report on Monday, October 15th. National Securities reiterated a “buy” rating and issued a $25.00 target price on shares of StoneCastle Financial in a research report on Monday, November 5th. JMP Securities reiterated a “buy” rating and issued a $24.00 target price on shares of StoneCastle Financial in a research report on Monday, December 10th. Finally, ValuEngine downgraded shares of StoneCastle Financial from a “buy” rating to a “hold” rating in a research note on Monday, December 17th.

NASDAQ:BANX traded up $0.11 during midday trading on Tuesday, hitting $20.75. The company had a trading volume of 2,738 shares, compared to its average volume of 11,877. StoneCastle Financial has a 52-week low of $16.75 and a 52-week high of $24.92. The firm has a market capitalization of $136.90 million, a PE ratio of 13.05 and a beta of 0.44.

A number of institutional investors have recently bought and sold shares of the business. Oxbow Advisors LLC lifted its stake in StoneCastle Financial by 1.9% in the third quarter. Oxbow Advisors LLC now owns 271,104 shares of the investment management company’s stock worth $6,078,000 after purchasing an additional 4,980 shares during the last quarter. Oak Grove Capital LLC bought a new stake in StoneCastle Financial in the third quarter worth $247,000. Private Advisor Group LLC bought a new stake in StoneCastle Financial in the third quarter worth $218,000. Finally, Acadian Asset Management LLC lifted its stake in StoneCastle Financial by 240.1% in the third quarter. Acadian Asset Management LLC now owns 8,298 shares of the investment management company’s stock worth $186,000 after purchasing an additional 5,858 shares during the last quarter. 24.00% of the stock is owned by institutional investors and hedge funds.

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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