The stock of BNC Bancorp (NASDAQ:BNCN) hit a new 52-week high and has $45.52 target or 53.00% above today’s $29.75 share price. The 6 months bullish chart indicates low risk for the $1.62 billion company. The 1-year high was reported on Nov, 17 by Barchart.com. If the $45.52 price target is reached, the company will be worth $858.60 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 94,328 shares traded hands. BNC Bancorp (NASDAQ:BNCN) has risen 34.23% since April 15, 2016 and is uptrending. It has outperformed by 29.61% the S&P500.
BNC Bancorp (NASDAQ:BNCN) Ratings Coverage
Out of 7 analysts covering BNC Bancorp (NASDAQ:BNCN), 5 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 71% are positive. BNC Bancorp has been the topic of 11 analyst reports since October 13, 2015 according to StockzIntelligence Inc. As per Monday, May 9, the company rating was upgraded by Raymond James. Gabelli upgraded BNC Bancorp (NASDAQ:BNCN) rating on Tuesday, January 26. Gabelli has “Buy” rating and $26.0 price target. On Wednesday, November 16 the stock rating was initiated by Piper Jaffray with “Overweight”. The company was downgraded on Monday, October 26 by Raymond James. As per Wednesday, December 2, the company rating was initiated by Stephens. The rating was downgraded by Hovde Group on Tuesday, October 13 to “Market Perform”. The rating was downgraded by Gabelli on Tuesday, August 9 to “Hold”.
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.
Alliancebernstein L P, a New York-based fund reported 48,100 shares. Panagora Asset Mgmt has 0.01% invested in the company for 52,736 shares. Voya Mgmt Ltd Liability Co accumulated 16,958 shares or 0% of the stock. Manufacturers Life Insurance Commerce The last reported 23,242 shares in the company. Moreover, Paradigm Asset Mgmt Ltd Liability has 0% invested in BNC Bancorp (NASDAQ:BNCN) for 750 shares. Vantage Advsrs Ltd Liability Corp last reported 1,340 shares in the company. Carroll Fin Associate, a North Carolina-based fund reported 24,370 shares. Royal Bancshares Of Canada accumulated 0% or 3,197 shares. Of Virginia Va reported 9,303 shares or 0.04% of all its holdings. The Illinois-based Citadel Advsr Ltd Limited Liability Company has invested 0% in BNC Bancorp (NASDAQ:BNCN). Menta Limited Liability, a California-based fund reported 13,084 shares. Blackrock Inc reported 8,194 shares or 0% of all its holdings. Moreover, Renaissance Techs Ltd Liability Corporation has 0.01% invested in BNC Bancorp (NASDAQ:BNCN) for 345,751 shares. Commercial Bank Of America Corp De accumulated 30,046 shares or 0% of the stock. Bancshares Of New York Mellon holds 0% of its portfolio in BNC Bancorp (NASDAQ:BNCN) for 330,689 shares.
Insider Transactions: Since May 26, 2016, the stock had 0 insider purchases, and 2 insider sales for $184,672 net activity. Ramsey John S Jr also sold $177,562 worth of BNC Bancorp (NASDAQ:BNCN) on Tuesday, November 15. Hagan Charles T III had sold 300 shares worth $7,110 on Thursday, May 26.
More important recent BNC Bancorp (NASDAQ:BNCN) news were published by: Journalnow.com which released: “BNC Bancorp posts another record quarterly profit” on October 21, 2016, also Prnewswire.com published article titled: “BNC Bancorp Announces Commencement Of Common Stock Offering”, Prnewswire.com published: “BNC Bancorp Signs Definitive Agreement To Acquire High Point Bank Corporation” on November 16, 2015. More interesting news about BNC Bancorp (NASDAQ:BNCN) was released by: Prnewswire.com and their article: “BNC Bancorp Announces FDIC Approval for High Point Bank Corporation Merger …” with publication date: October 04, 2016.
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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