November 30, 2016 - By Linda Rogers
A calculated and well-grounded transaction was made by the director of Bnc Bancorp, Mr. Thomas Sloan, 2 days ago, when he unloaded amount company shares – 11,000, amounting to $335,500 U.S Dollars, calculated based on $30.5 of a share. Currently, Mr. Thomas, possess 277,415 shares, which accounts for 0.54% of the Company’s market capitalization.
Out of 8 analysts covering BNC Bancorp (NASDAQ:BNCN), 4 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 50% are positive. $29.50 is the highest target while $25 is the lowest. The $27.50 average target is -8.33% below today’s ($30) stock price. BNC Bancorp has been the topic of 13 analyst reports since October 13, 2015 according to StockzIntelligence Inc. Piper Jaffray initiated BNC Bancorp (NASDAQ:BNCN) on Wednesday, November 16 with “Overweight” rating. Sandler O’Neill downgraded BNC Bancorp (NASDAQ:BNCN) on Tuesday, November 22 to “Hold” rating. The company was downgraded on Tuesday, October 13 by Hovde Group. The rating was upgraded by Gabelli on Tuesday, January 26 to “Buy”. The stock has “Hold” rating given by Gabelli on Tuesday, August 9. The firm has “Overweight” rating given on Wednesday, December 2 by Stephens. Raymond James upgraded the shares of BNCN in a report on Monday, May 9 to “Outperform” rating. Keefe Bruyette & Woods downgraded BNC Bancorp (NASDAQ:BNCN) on Tuesday, November 29 to “Mkt Perform” rating. The stock of BNC Bancorp (NASDAQ:BNCN) earned “Market Perform” rating by Raymond James on Monday, October 26.
Insitutional Activity: The institutional sentiment decreased to 1.49 in 2016 Q2. Its down 0.24, from 1.73 in 2016Q1. The ratio turned negative, 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.
Moreover, Arcadia Inv Mngmt Mi has 0.01% invested in BNC Bancorp (NASDAQ:BNCN) for 1,150 shares. Zurcher Kantonalbank (Zurich Cantonalbank) accumulated 0% or 977 shares. Franklin Resource Incorporated last reported 1.08M shares in the company. The Pennsylvania-based Emerald Mutual Fund Advisers Trust has invested 0.22% in BNC Bancorp (NASDAQ:BNCN). Moreover, Thomson Horstmann Bryant has 0.06% invested in BNC Bancorp (NASDAQ:BNCN) for 19,016 shares. Aquiline Cap Prns Llc holds 1.51 million shares or 27.05% of its portfolio. Commercial Bank Of America De holds 30,046 shares or 0% of its portfolio. California State Teachers Retirement Systems reported 79,410 shares or 0% of all its holdings. Kennedy Mngmt last reported 201,827 shares in the company. Stieven Cap Advisors Limited Partnership holds 0.72% or 114,258 shares in its portfolio. California Employees Retirement System holds 120,628 shares or 0% of its portfolio. Credit Suisse Ag holds 0% or 44,749 shares in its portfolio. Moreover, Fisher Asset Management Lc has 0% invested in BNC Bancorp (NASDAQ:BNCN) for 48,829 shares. Zebra Management Llc has 30,677 shares for 0.24% of their US portfolio. Moreover, Blackrock Institutional Tru Na has 0% invested in BNC Bancorp (NASDAQ:BNCN) for 659,861 shares.
Insider Transactions: Since November 15, 2016, the stock had 0 insider buys, and 1 sale for $177,562 net activity. 6,301 shares with value of $177,562 were sold by Ramsey John S Jr on Tuesday, November 15.
About 53,880 shares traded hands. BNC Bancorp (NASDAQ:BNCN) has risen 35.75% since April 27, 2016 and is uptrending. It has outperformed by 30.53% the S&P500.
BNC Bancorp is a bank holding company for Bank of North Carolina . The company has a market cap of $1.59 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 21.26 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.”
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 $22.79 million for 17.44 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.
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.
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.
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By Linda Rogers