The stock of BNC Bancorp (NASDAQ:BNCN) hit a new 52-week high and has $41.80 target or 52.00% above today’s $27.50 share price. The 6 months bullish chart indicates low risk for the $1.50 billion company. The 1-year high was reported on Nov, 11 by Barchart.com. If the $41.80 price target is reached, the company will be worth $780.00 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 193,162 shares traded hands or 2.48% up from the average. BNC Bancorp (NASDAQ:BNCN) has risen 28.97% since April 11, 2016 and is uptrending. It has outperformed by 22.82% the S&P500.
BNC Bancorp (NASDAQ:BNCN) Ratings Coverage
Out of 5 analysts covering BNC Bancorp (NASDAQ:BNCN), 3 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 60% are positive. BNC Bancorp has been the topic of 9 analyst reports since October 13, 2015 according to StockzIntelligence Inc. The company was downgraded on Tuesday, August 9 by Gabelli. Stephens initiated the shares of BNCN in a report on Wednesday, December 2 with “Overweight” rating. The rating was downgraded by Raymond James on Monday, October 26 to “Market Perform”. The stock of BNC Bancorp (NASDAQ:BNCN) earned “Market Perform” rating by Hovde Group on Tuesday, October 13. The firm has “Buy” rating given on Tuesday, January 26 by Gabelli. The rating was upgraded by Raymond James on Monday, May 9 to “Outperform”.
According to Zacks Investment Research, “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.”
Insitutional Activity: The institutional sentiment increased to 1.73 in 2016 Q2. Its up 0.65, from 1.08 in 2016Q1. The ratio improved, as 10 funds sold all BNC Bancorp shares owned while 27 reduced positions. 14 funds bought stakes while 50 increased positions. They now own 23.36 million shares or 11.79% more from 20.90 million shares in 2016Q1.
Arcadia Inv Mngmt Mi holds 0.01% or 1,150 shares in its portfolio. Bragg Financial Incorporated, a North Carolina-based fund reported 22,411 shares. Savings Bank Of America Corp De last reported 0% of its portfolio in the stock. Metropolitan Life Company Ny has 27,889 shares for 0% of their US portfolio. Menta Capital Lc has 13,084 shares for 0.04% of their US portfolio. Kennedy Capital Mngmt accumulated 0.09% or 201,827 shares. Carroll Fincl accumulated 0.09% or 24,370 shares. Legal General Group Plc, a United Kingdom-based fund reported 4,724 shares. Geode Capital Mngmt Limited Liability Co accumulated 295,525 shares or 0% of the stock. Citadel Ltd reported 11,265 shares or 0% of all its holdings. Blackrock Ltd Llc holds 0% or 17,741 shares in its portfolio. The Pennsylvania-based Vantage Inv Advsrs Limited Liability Corporation has invested 0.01% in BNC Bancorp (NASDAQ:BNCN). Neuberger Berman Gru Limited Liability Corporation accumulated 30,000 shares or 0% of the stock. Bancorporation Of Montreal Can accumulated 8,777 shares or 0% of the stock. Moreover, Alliancebernstein Lp has 0% invested in BNC Bancorp (NASDAQ:BNCN) for 48,100 shares.
Insider Transactions: Since May 26, 2016, the stock had 0 insider purchases, and 1 sale for $7,110 net activity. Hagan Charles T III sold 300 shares worth $7,110.
More notable recent BNC Bancorp (NASDAQ:BNCN) news were published by: Reuters.com which released: “BRIEF-BNC Bancorp entered into a second amendment to co’s existing credit …” on November 10, 2016, also Prnewswire.com with their article: “BNC Bancorp Announces Receipt of Regulatory Approvals for High Point Bank …” published on October 17, 2016, Prnewswire.com published: “BNC Bancorp Announces Commencement Of Common Stock Offering” on July 20, 2016. More interesting news about BNC Bancorp (NASDAQ:BNCN) were released by: Journalnow.com and their article: “BNC Bancorp posts another record quarterly profit” published on October 21, 2016 as well as Marketwatch.com‘s news article titled: “BNC Bancorp downgraded to market perform from outperform at Raymond James” with publication date: June 06, 2009.
BNCN Company Profile
BNC Bancorp, incorporated on September 19, 2002, is a bank holding firm 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. It operates through two divisions: banking activities and mortgage origination. The primary purpose of the mortgage origination segment is the origination and subsequent sale of residential mortgage loans, while all other banking activities are performed in the banking activities segment. BNC also offers brokerage services, including financial planning, wealth management, private banking and insurance products.
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