Rating Change: Is BNC Bancorp (NASDAQ:BNCN) a Sell? How Analyst Rate it? Why Keefe Bruyette Downgraded The Stock

November 29, 2016 - By Linda Rogers

Rating Change: Is BNC Bancorp (NASDAQ:BNCN) a Sell? How Analyst Rate it? Why Keefe Bruyette Downgraded The Stock

BNC Bancorp (NASDAQ:BNCN) Downgrade

In a a research note issued to investors and clients on Tuesday morning, Keefe Bruyette has cut BNC Bancorp (NASDAQ:BNCN) stock to Mkt Perform. BNCN’s old rating was Outperform.

BNC Bancorp (NASDAQ:BNCN) Ratings Coverage

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 -8.49% below today’s ($30.05) 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 “Market Perform” rating by Hovde Group on Tuesday, October 13. Gabelli downgraded BNC Bancorp (NASDAQ:BNCN) on Tuesday, August 9 to “Hold” rating. On Wednesday, November 16 the stock rating was initiated by Piper Jaffray with “Overweight”. The company was initiated on Wednesday, December 2 by Stephens. The firm has “Outperform” rating by Raymond James given on Monday, May 9. The firm earned “Hold” rating on Tuesday, November 22 by Sandler O’Neill. Gabelli upgraded BNC Bancorp (NASDAQ:BNCN) on Tuesday, January 26 to “Buy” rating. The stock of BNC Bancorp (NASDAQ:BNCN) earned “Market Perform” rating by Raymond James on Monday, October 26.

About 57,797 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 EPS, up 10.26% or $0.04 from last year’s $0.39 per share. BNCN’s profit will be $22.04 million for 17.47 P/E if the $0.43 EPS becomes a reality. After $0.42 actual EPS 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 Q2 2016. Its down 0.24, from 1.73 in 2016Q1. The ratio dived, 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.

Legal & General Public Ltd Com holds 0% of its portfolio in BNC Bancorp (NASDAQ:BNCN) for 4,724 shares. Invesco Limited owns 44,687 shares or 0% of their US portfolio. Lord Abbett Co Lc last reported 187,000 shares in the company. Retail Bank Of Mellon has invested 0% of its portfolio in BNC Bancorp (NASDAQ:BNCN). Blackrock Institutional Trust Na has invested 0% of its portfolio in BNC Bancorp (NASDAQ:BNCN). The New York-based Mendon Cap Advsrs has invested 3.04% in BNC Bancorp (NASDAQ:BNCN). Shinko Asset Management Ltd has 0.01% invested in the company for 48,829 shares. Intl, a New York-based fund reported 21,801 shares. The Texas-based Dimensional Fund Advisors L P has invested 0.01% in BNC Bancorp (NASDAQ:BNCN). Royal National Bank Of Canada holds 0% of its portfolio in BNC Bancorp (NASDAQ:BNCN) for 3,197 shares. Nationwide Fund Advsr, a Pennsylvania-based fund reported 25,986 shares. City Holdg has invested 0.01% of its portfolio in BNC Bancorp (NASDAQ:BNCN). Kennedy Management has 201,827 shares for 0.09% of their US portfolio. Blackrock holds 0% or 8,194 shares in its portfolio. Zebra Mngmt Limited Liability Corporation holds 30,677 shares or 0.24% of its portfolio.

Insider Transactions: Since November 15, 2016, the stock had 0 insider purchases, and 1 insider sale for $177,562 net activity. Ramsey John S Jr sold 6,301 shares worth $177,562.

BNC Bancorp is a bank holding company for Bank of North Carolina . The company has a market cap of $1.54 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 21.3 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.”

BNCN Company Profile

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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