BNC Bancorp (BNCN) Lifted to “Hold” at Zacks Investment Research
BNC Bancorp (NASDAQ:BNCN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to 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 lowered BNC Bancorp from a “buy” rating to a “hold” rating and set a $27.00 price objective for the company. in a research report on Tuesday, August 9th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. BNC Bancorp currently has a consensus rating of “Buy” and a consensus price target of $26.50.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/11/bnc-bancorp-bncn-lifted-to-hold-at-zacks-investment-research.html
BNC Bancorp (NASDAQ:BNCN) traded down 1.62% during trading on Tuesday, hitting $24.35. 65,875 shares of the stock were exchanged. BNC Bancorp has a 1-year low of $19.45 and a 1-year high of $26.29. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 18.09 and a beta of 0.92. The firm’s 50 day moving average price is $24.53 and its 200-day moving average price is $23.28.
BNC Bancorp (NASDAQ:BNCN) last announced its quarterly earnings results on Wednesday, July 20th. The financial services provider reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. BNC Bancorp had a return on equity of 10.32% and a net margin of 20.77%. On average, analysts anticipate that BNC Bancorp will post $1.62 EPS for the current year.
Institutional investors have recently modified their holdings of the stock. GSA Capital Partners LLP raised its position in shares of BNC Bancorp by 37.0% in the second quarter. GSA Capital Partners LLP now owns 22,546 shares of the financial services provider’s stock valued at $512,000 after buying an additional 6,086 shares in the last quarter. California Public Employees Retirement System increased its position in BNC Bancorp by 11.8% in the second quarter. California Public Employees Retirement System now owns 120,628 shares of the financial services provider’s stock worth $2,740,000 after buying an additional 12,709 shares during the period. Emerald Acquisition Ltd. purchased a new position in BNC Bancorp during the second quarter worth $6,514,000. Mendon Capital Advisors Corp increased its position in BNC Bancorp by 17.1% in the second quarter. Mendon Capital Advisors Corp now owns 1,297,564 shares of the financial services provider’s stock worth $29,468,000 after buying an additional 189,554 shares during the period. Finally, RMB Capital Management LLC increased its position in BNC Bancorp by 58.8% in the second quarter. RMB Capital Management LLC now owns 715,347 shares of the financial services provider’s stock worth $16,246,000 after buying an additional 264,896 shares during the period. Institutional investors and hedge funds own 49.59% of the company’s stock.
About BNC Bancorp
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for BNC Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BNC Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.