BNC Bancorp (BNCN) Receives Consensus Rating of “Hold” from Brokerages
BNC Bancorp (NASDAQ:BNCN) has been assigned a consensus recommendation of “Hold” from the eight ratings firms that are presently covering the company, Marketbeat reports. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $32.69.
BNCN has been the subject of several analyst reports. Keefe, Bruyette & Woods reaffirmed 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 raised BNC Bancorp from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a report on Friday, April 21st. ValuEngine raised BNC Bancorp from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Finally, BidaskClub raised BNC Bancorp from a “sell” rating to a “hold” rating in a report on Friday, June 9th.
Several institutional investors have recently bought and sold shares of the company. Aldebaran Financial Inc. acquired a new position in BNC Bancorp during the fourth quarter worth approximately $224,000. Dimensional Fund Advisors LP boosted 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 during the period. High Point Bank & Trust Co. boosted 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 during the period. OMERS ADMINISTRATION Corp acquired a new position in BNC Bancorp during the first quarter worth approximately $1,868,000. Finally, ARP Americas LLC acquired a new position in BNC Bancorp during the first quarter worth approximately $9,567,000. 62.60% of the stock is owned by institutional investors.
Shares of BNC Bancorp (NASDAQ:BNCN) opened at 35.15 on Friday. BNC Bancorp has a one year low of $21.54 and a one year high of $37.15. The stock’s 50 day moving average price is $33.07 and its 200 day moving average price is $33.59.
BNC Bancorp (NASDAQ:BNCN) last announced its quarterly earnings data on Monday, April 17th. The financial services provider reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.01. The firm had revenue of $74.43 million during the quarter, compared to analysts’ expectations of $76.80 million. BNC Bancorp had a return on equity of 6.37% and a net margin of 19.39%. Analysts forecast that BNC Bancorp will post $1.79 earnings per share for the current fiscal year.
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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.
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