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http://www.financial-market-news.com/stonecastle-financial-corp-banx-shares-bought-by-oxbow-advisors-llc/896284/ StoneCastle Financial Corp (BANX) Shares Bought by Oxbow Advisors LLC
February 29th, 2016 - By Mark Watkins - 0 comments
StoneCastle Financial Corp logoOxbow Advisors LLC raised its stake in StoneCastle Financial Corp (NASDAQ:BANX) by 48.1% during the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 144,866 shares of the investment management company’s stock after buying an additional 47,034 shares during the period. Oxbow Advisors LLC’s holdings in StoneCastle Financial Corp were worth $2,361,000 as of its most recent filing with the SEC.
Separately, Punch & Associates Investment Management Inc. boosted its stake in shares of StoneCastle Financial Corp by 18.8% in the fourth quarter. Punch & Associates Investment Management Inc. now owns 522,448 shares of the investment management company’s stock valued at $8,516,000 after buying an additional 82,766 shares in the last quarter.
StoneCastle Financial Corp (NASDAQ:BANX) opened at 15.46 on Monday. The company’s 50-day moving average is $15.15 and its 200-day moving average is $16.56. StoneCastle Financial Corp has a one year low of $13.81 and a one year high of $21.49.
Several brokerages have recently commented on BANX. Zacks Investment Research upgraded shares of StoneCastle Financial Corp from a “sell” rating to a “hold” rating in a research report on Tuesday, January 19th. Keefe, Bruyette & Woods cut shares of StoneCastle Financial Corp from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $19.00 to $18.75 in a research report on Wednesday, November 18th. National Securities upgraded shares of StoneCastle Financial Corp from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $19.00 to $22.00 in a research report on Monday, November 16th. Finally, Oppenheimer restated an “outperform” rating and set a $20.00 price objective on shares of StoneCastle Financial Corp in a report on Friday, November 13th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $21.13.
StoneCastle Financial Corp. (NASDAQ:BANX) is a non-diversified, closed-end management investment company. The Company’s primary investment objective is to provide stockholders with current income and capital appreciation. The Company seeks to achieve its investment objectives through investments in preferred equity, subordinated debt, convertible securities and, common equity primarily in the United States community bank sector.
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