Zacks Investment Research Upgrades BNC Bancorp (BNCN) to “Hold”
BNC Bancorp (NASDAQ:BNCN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research 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 downgraded shares of BNC Bancorp from a “buy” rating to a “hold” rating and set a $27.00 target price on the stock. in a research report on Tuesday, August 9th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $26.50.
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Shares of BNC Bancorp (NASDAQ:BNCN) traded down 1.62% during trading on Tuesday, hitting $24.35. 66,454 shares of the company traded hands. The firm has a 50 day moving average price of $24.53 and a 200-day moving average price of $23.28. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 18.09 and a beta of 0.92. BNC Bancorp has a one year low of $19.45 and a one year high of $26.29.
BNC Bancorp (NASDAQ:BNCN) last released its earnings results on Wednesday, July 20th. The financial services provider reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. BNC Bancorp had a net margin of 20.77% and a return on equity of 10.32%. Analysts predict that BNC Bancorp will post $1.62 EPS for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Menta Capital LLC bought a new position in shares of BNC Bancorp during the first quarter worth approximately $276,000. Goldman Sachs Group Inc. increased its position in shares of BNC Bancorp by 131.6% in the first quarter. Goldman Sachs Group Inc. now owns 784,614 shares of the financial services provider’s stock worth $16,571,000 after buying an additional 445,771 shares during the last quarter. Trust Co. of Virginia VA bought a new position in shares of BNC Bancorp during the second quarter worth approximately $211,000. Bank of Montreal Can bought a new position in shares of BNC Bancorp during the second quarter worth approximately $199,000. Finally, Northpointe Capital LLC increased its position in shares of BNC Bancorp by 17.8% in the second quarter. Northpointe Capital LLC now owns 466,565 shares of the financial services provider’s stock worth $10,596,000 after buying an additional 70,512 shares during the last quarter. 49.59% of the stock is currently owned by hedge funds and other institutional investors.
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.
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