Zacks Investment Research Downgrades BNC Bancorp (BNCN) to Sell
BNC Bancorp (NASDAQ:BNCN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “BNC Bancorp provides a complete line of banking and financial services to individuals and businesses through full-service banking offices located in the cities of Thomasville, Archdale, Lexington, Kernersville and Oak Ridge, North Carolina. “
Separately, Gabelli cut BNC Bancorp from a “buy” rating to a “hold” rating and set a $27.00 price target on the stock. in a report on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $26.50.
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Shares of BNC Bancorp (NASDAQ:BNCN) traded down 0.72% during mid-day trading on Tuesday, reaching $24.77. The company had a trading volume of 100,084 shares. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 18.40 and a beta of 0.85. The firm has a 50-day moving average price of $24.38 and a 200-day moving average price of $22.91. BNC Bancorp has a 1-year low of $19.45 and a 1-year high of $26.29.
BNC Bancorp (NASDAQ:BNCN) last posted its quarterly earnings results on Wednesday, July 20th. The financial services provider reported $0.41 EPS for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.02. BNC Bancorp had a return on equity of 10.32% and a net margin of 20.77%. Equities analysts expect that BNC Bancorp will post $1.62 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 26th. Stockholders of record on Friday, August 12th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, August 10th. This represents a $0.20 annualized dividend and a dividend yield of 0.81%. BNC Bancorp’s dividend payout ratio (DPR) is 15.04%.
Several hedge funds have recently modified their holdings of the company. Legal & General Group Plc boosted its stake in shares of BNC Bancorp by 7.0% in the second quarter. Legal & General Group Plc now owns 4,724 shares of the financial services provider’s stock valued at $106,000 after buying an additional 311 shares during the period. Teacher Retirement System of Texas boosted its stake in shares of BNC Bancorp by 22.1% in the second quarter. Teacher Retirement System of Texas now owns 5,449 shares of the financial services provider’s stock valued at $124,000 after buying an additional 986 shares during the period. BlackRock Inc. boosted its stake in shares of BNC Bancorp by 317.4% in the second quarter. BlackRock Inc. now owns 8,194 shares of the financial services provider’s stock valued at $186,000 after buying an additional 6,231 shares during the period. Bank of Montreal Can purchased a new stake in shares of BNC Bancorp during the second quarter valued at about $199,000. Finally, Trust Co. of Virginia VA purchased a new stake in shares of BNC Bancorp during the second quarter valued at about $211,000. 49.59% of the stock is currently owned by institutional investors and hedge funds.
BNC Bancorp Company Profile
BNC Bancorp is a bank holding company 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.
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