November 29, 2016 - By Dolores Ford
In a a research report sent to clients and investors on Tuesday morning, Keefe Bruyette & Woods cut shares of BNC Bancorp (NASDAQ:BNCN) to a Market Perform rating from a Outperform rating.
Out of 8 analysts covering BNC Bancorp (NASDAQ:BNCN), 5 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 63% are positive. $29.50 is the highest target while $25 is the lowest. The $27.50 average target is -8.94% below today’s ($30.2) stock price. BNC Bancorp has been the topic of 12 analyst reports since October 13, 2015 according to StockzIntelligence Inc. The stock of BNC Bancorp (NASDAQ:BNCN) earned “Outperform” rating by Raymond James on Monday, May 9. The firm has “Market Perform” rating given on Tuesday, October 13 by Hovde Group. The rating was downgraded by Gabelli to “Hold” on Tuesday, August 9. The firm earned “Overweight” rating on Wednesday, December 2 by Stephens. On Monday, October 26 the stock rating was downgraded by Raymond James to “Market Perform”. On Tuesday, November 22 the stock rating was downgraded by Sandler O’Neill to “Hold”. The rating was initiated by Piper Jaffray with “Overweight” on Wednesday, November 16. The firm has “Buy” rating given on Tuesday, January 26 by Gabelli.
About 174,574 shares traded hands. BNC Bancorp (NASDAQ:BNCN) has risen 35.60% since April 26, 2016 and is uptrending. It has outperformed by 30.34% the S&P500.
Analysts await BNC Bancorp (NASDAQ:BNCN) to report earnings on January, 23. They expect $0.43 earnings per share, up 10.26% or $0.04 from last year’s $0.39 per share. BNCN’s profit will be $22.07M for 17.56 P/E if the $0.43 EPS becomes a reality. After $0.42 actual earnings per share reported by BNC Bancorp for the previous quarter, Wall Street now forecasts 2.38% EPS growth.
Insitutional Activity: The institutional sentiment decreased to 1.49 in 2016 Q2. Its down 0.24, from 1.73 in 2016Q1. The ratio fall, as 10 funds sold all BNC Bancorp shares owned while 27 reduced positions. 14 funds bought stakes while 50 increased positions. They now own 23.36 million shares or 11.79% more from 20.90 million shares in 2016Q1.
Raymond James & Assoc reported 11,388 shares or 0% of all its holdings. Franklin Street Advsrs Inc Nc holds 0.07% or 17,407 shares in its portfolio. Employees Retirement Sys Of Texas has 0.03% invested in the company for 92,000 shares. Citigroup Incorporated has 0% invested in the company for 2,015 shares. Menta Capital Limited has invested 0.04% of its portfolio in BNC Bancorp (NASDAQ:BNCN). Tiaa Cref Investment Mngmt Ltd Liability Corporation has invested 0% of its portfolio in BNC Bancorp (NASDAQ:BNCN). Elizabeth Park Capital Advsrs has invested 5.03% of its portfolio in BNC Bancorp (NASDAQ:BNCN). Blackrock Limited Liability Company accumulated 153,810 shares or 0% of the stock. The Illinois-based First L P has invested 0% in BNC Bancorp (NASDAQ:BNCN). The California-based Wells Fargo Communication Mn has invested 0% in BNC Bancorp (NASDAQ:BNCN). Bankshares Of Montreal Can holds 0% or 8,777 shares in its portfolio. Moreover, Envestnet Asset has 0% invested in BNC Bancorp (NASDAQ:BNCN) for 2,147 shares. Great West Life Assurance Company Can last reported 4,800 shares in the company. National Bank & Trust Of America De last reported 0% of its portfolio in the stock. Nationwide Fund Advisors holds 25,986 shares or 0% of its portfolio.
Insider Transactions: Since November 15, 2016, the stock had 0 insider purchases, and 1 sale for $177,562 net activity. Ramsey John S Jr sold $177,562 worth of stock.
BNC Bancorp is a bank holding company for Bank of North Carolina . The company has a market cap of $1.55 billion. BNC is a full service commercial bank principally engaged in the business of attracting deposits from the general public and using those deposits, together with other funding from its lines of credit, to make primarily consumer and commercial loans. It has a 21.4 P/E ratio. It operates through two divisions: banking activities and mortgage origination.
According to Zacks Investment Research, “BNC Bancorp provides a complete line of banking and financial services to individuals and businesses through 90 banking offices in the Carolinas and Virginia.”
BNC Bancorp, incorporated on September 19, 2002, is a bank holding firm for Bank of North Carolina (BNC or the Bank). BNC is a full service commercial bank principally engaged in the business of attracting deposits from the general public and using those deposits, together with other funding from its lines of credit, to make primarily consumer and commercial loans. It operates through two divisions: banking activities and mortgage origination. The primary purpose of the mortgage origination segment is the origination and subsequent sale of residential mortgage loans, while all other banking activities are performed in the banking activities segment. BNC also offers brokerage services, including financial planning, wealth management, private banking and insurance products.
More notable recent BNC Bancorp (NASDAQ:BNCN) news were published by: Prnewswire.com which released: “BNC Bancorp Completes Merger With High Point Bank Corporation” on November 01, 2016, also Marketwatch.com with their article: “BNC Bancorp downgraded to market perform from outperform at Raymond James” published on June 06, 2009, Prnewswire.com published: “BNC Bancorp Announces Commencement Of Common Stock Offering” on July 20, 2016. More interesting news about BNC Bancorp (NASDAQ:BNCN) were released by: Prnewswire.com and their article: “BNC Bancorp Announces FDIC Approval for High Point Bank Corporation Merger …” published on October 04, 2016 as well as Prnewswire.com‘s news article titled: “BNC Bancorp Signs Definitive Agreement To Acquire High Point Bank Corporation” with publication date: November 16, 2015.
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By Dolores Ford