Today’s Rating On Watch: BNC Bancorp (NASDAQ:BNCN) Is a Stock KBW Is Wary of; Firm Downgrades It

November 30, 2016 - By Adrian Mccoy

Today's Rating On Watch: BNC Bancorp (NASDAQ:BNCN) Is a Stock KBW Is Wary of; Firm Downgrades It

BNC Bancorp (NASDAQ:BNCN) Downgrade

BNC Bancorp (NASDAQ:BNCN) was downgraded by research analysts at KBW from a Outperform rating to a Mkt Perform rating in a report issued on 29 November.

BNC Bancorp (NASDAQ:BNCN) Ratings Coverage

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 -9.24% below today’s ($30.3) stock price. BNC Bancorp has been the topic of 13 analyst reports since October 13, 2015 according to StockzIntelligence Inc. Stephens initiated BNC Bancorp (NASDAQ:BNCN) rating on Wednesday, December 2. Stephens has “Overweight” rating and $29.50 price target. The stock of BNC Bancorp (NASDAQ:BNCN) has “Buy” rating given on Tuesday, January 26 by Gabelli. On Monday, May 9 the stock rating was upgraded by Raymond James to “Outperform”. Sandler O’Neill downgraded BNC Bancorp (NASDAQ:BNCN) on Tuesday, November 22 to “Hold” rating. The firm has “Overweight” rating given on Wednesday, November 16 by Piper Jaffray. The firm has “Hold” rating given on Tuesday, August 9 by Gabelli. The company was downgraded on Tuesday, November 29 by Keefe Bruyette & Woods. The firm has “Market Perform” rating given on Tuesday, October 13 by Hovde Group. Raymond James downgraded BNC Bancorp (NASDAQ:BNCN) on Monday, October 26 to “Market Perform” rating.

The stock increased 1.34% or $0.4 on November 29, hitting $30.3. BNC Bancorp (NASDAQ:BNCN) has risen 35.75% since April 27, 2016 and is uptrending. It has outperformed by 30.53% 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 $22.00M for 17.62 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 Q2 2016. Its down 0.24, from 1.73 in 2016Q1. The ratio worsened, 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.

Castine Cap Mgmt Ltd Com has 245,000 shares for 2.67% of their US portfolio. Moreover, Earnest Prns Ltd has 0% invested in BNC Bancorp (NASDAQ:BNCN) for 1,300 shares. Hutchin Hill Cap L P has 0.28% invested in the company for 365,000 shares. Parametric Port Associate Limited Liability Corp has invested 0% of its portfolio in BNC Bancorp (NASDAQ:BNCN). Elizabeth Park Advisors has invested 5.03% of its portfolio in BNC Bancorp (NASDAQ:BNCN). Moreover, Wells Fargo And Co Mn has 0% invested in BNC Bancorp (NASDAQ:BNCN) for 66,122 shares. Tru Com Of Virginia Va holds 0.04% or 9,303 shares in its portfolio. High Point Bank & Tru owns 25,080 shares or 0.15% of their US portfolio. Nationwide Fund Advsr owns 25,986 shares or 0% of their US portfolio. Sheets Smith Wealth owns 12,321 shares or 0.08% of their US portfolio. The North Carolina-based Bragg Fincl has invested 0.09% in BNC Bancorp (NASDAQ:BNCN). Northern Corp last reported 465,131 shares in the company. Panagora Asset last reported 0.01% of its portfolio in the stock. The New York-based Millennium Mngmt Lc has invested 0% in BNC Bancorp (NASDAQ:BNCN). The West Virginia-based City has invested 0.01% in BNC Bancorp (NASDAQ:BNCN).

Insider Transactions: Since November 15, 2016, the stock had 0 insider purchases, 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.

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 21.47 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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