BNC Bancorp (BNCN) Rating Increased to Buy at ValuEngine
BNC Bancorp (NASDAQ:BNCN) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a report released on Friday, June 2nd.
A number of other research firms also recently commented on BNCN. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $37.75 price objective on shares of BNC Bancorp in a report on Thursday, April 20th. Zacks Investment Research upgraded BNC Bancorp from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a report on Friday, April 21st. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. BNC Bancorp has an average rating of “Hold” and a consensus target price of $32.69.
BNC Bancorp (NASDAQ BNCN) traded up 4.47% during trading on Friday, reaching $36.20. The company’s stock had a trading volume of 480,760 shares. BNC Bancorp has a 1-year low of $21.54 and a 1-year high of $37.15. The stock has a market capitalization of $1.89 billion, a PE ratio of 27.59 and a beta of 1.00. The stock has a 50 day moving average price of $33.01 and a 200 day moving average price of $33.49.
BNC Bancorp (NASDAQ:BNCN) last posted its quarterly earnings results on Monday, April 17th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The company had revenue of $74.43 million for the quarter, compared to analyst estimates of $76.80 million. BNC Bancorp had a return on equity of 9.77% and a net margin of 20.43%. Analysts anticipate that BNC Bancorp will post $1.80 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 26th. Stockholders of record on Friday, May 12th were issued a $0.05 dividend. The ex-dividend date was Wednesday, May 10th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.55%. BNC Bancorp’s payout ratio is currently 3.79%.
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In other news, Director W Swope Montgomery, Jr. sold 1,500 shares of the stock in a transaction dated Friday, April 21st. The stock was sold at an average price of $33.90, for a total value of $50,850.00. Following the transaction, the director now owns 92,852 shares in the company, valued at approximately $3,147,682.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Matthew W. Mcinnis sold 25,000 shares of the stock in a transaction dated Thursday, March 30th. The shares were sold at an average price of $33.81, for a total value of $845,250.00. Following the completion of the transaction, the director now owns 7,819 shares in the company, valued at approximately $264,360.39. The disclosure for this sale can be found here. Corporate insiders own 6.16% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Discovery Capital Management LLC CT purchased a new position in BNC Bancorp during the fourth quarter worth about $5,863,000. Aldebaran Financial Inc. purchased a new position in BNC Bancorp during the fourth quarter worth about $224,000. Dimensional Fund Advisors LP increased its position in BNC Bancorp by 8.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 890,626 shares of the financial services provider’s stock worth $28,411,000 after buying an additional 71,941 shares in the last quarter. High Point Bank & Trust Co. increased its position in BNC Bancorp by 7,256.4% in the fourth quarter. High Point Bank & Trust Co. now owns 1,844,991 shares of the financial services provider’s stock worth $58,856,000 after buying an additional 1,819,911 shares in the last quarter. Finally, New York State Common Retirement Fund increased its position in BNC Bancorp by 6.1% in the third quarter. New York State Common Retirement Fund now owns 68,277 shares of the financial services provider’s stock worth $1,660,000 after buying an additional 3,917 shares in the last quarter. Hedge funds and other institutional investors own 62.60% of the company’s stock.
About BNC Bancorp
BNC Bancorp is a one-bank holding company for Bank of North Carolina (the Bank). The Bank is a full service commercial bank, which provides a range of banking services tailored to the particular banking needs of the communities it serves. It is 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 commercial and consumer loans.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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