The stock of BNC Bancorp (NASDAQ:BNCN) hit a new 52-week high and has $32.66 target or 5.00% above today’s $31.10 share price. The 8 months bullish chart indicates low risk for the $1.61B company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $32.66 price target is reached, the company will be worth $80.50M 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 67,050 shares traded hands. BNC Bancorp (NASDAQ:BNCN) has risen 38.95% since April 21, 2016 and is uptrending. It has outperformed by 33.62% the S&P500.
Analysts await BNC Bancorp (NASDAQ:BNCN) to report earnings on January, 23. They expect $0.43 earnings per share, up 10.26% or $0.04 from last year’s $0.39 per share. BNCN’s profit will be $22.26M for 18.08 P/E if the $0.43 EPS becomes a reality. After $0.42 actual earnings per share reported by BNC Bancorp for the previous quarter, Wall Street now forecasts 2.38% EPS growth.
BNC Bancorp (NASDAQ:BNCN) Ratings Coverage
Out of 8 analysts covering BNC Bancorp (NASDAQ:BNCN), 5 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 63% are positive. BNC Bancorp has been the topic of 12 analyst reports since October 13, 2015 according to StockzIntelligence Inc. Sandler O’Neill downgraded the shares of BNCN in a report on Tuesday, November 22 to “Hold” rating. The rating was downgraded by Hovde Group to “Market Perform” on Tuesday, October 13. The firm has “Market Perform” rating given on Monday, October 26 by Raymond James. The stock has “Outperform” rating given by Raymond James on Monday, May 9. The stock has “Overweight” rating given by Piper Jaffray on Wednesday, November 16. The stock of BNC Bancorp (NASDAQ:BNCN) earned “Overweight” rating by Stephens on Wednesday, December 2. Gabelli downgraded the shares of BNCN in a report on Tuesday, August 9 to “Hold” rating. The stock of BNC Bancorp (NASDAQ:BNCN) earned “Buy” rating by Gabelli on Tuesday, January 26.
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 decreased to 1.49 in Q2 2016. Its down 0.24, from 1.73 in 2016Q1. The ratio is negative, 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.
Paradigm Asset Mgmt Limited Liability Com owns 750 shares or 0% of their US portfolio. Parametric Portfolio Assocs Llc accumulated 12,547 shares or 0% of the stock. Blackrock Fund accumulated 0% or 892,867 shares. Buckhead Capital Mgmt Limited has 28,845 shares for 0.12% of their US portfolio. Deutsche Bancorporation Ag holds 0% or 69,377 shares in its portfolio. Swiss Savings Bank, a Switzerland-based fund reported 70,400 shares. Great West Life Assurance Com Can owns 4,800 shares or 0% of their US portfolio. The Ohio-based Victory Cap has invested 0% in BNC Bancorp (NASDAQ:BNCN). Cortina Asset Management Limited Liability Com accumulated 170,930 shares or 0.18% of the stock. Pnc Svcs Grp last reported 63,006 shares in the company. Arcadia Investment Mgmt Mi holds 0.01% or 1,150 shares in its portfolio. Rhumbline Advisers holds 0% or 39,964 shares in its portfolio. Elizabeth Park Advisors Limited holds 5.03% of its portfolio in BNC Bancorp (NASDAQ:BNCN) for 520,688 shares. Fisher Asset Mgmt Ltd Co has 48,829 shares for 0% of their US portfolio. Manufacturers Life Insur Company The, a Ontario – Canada-based fund reported 23,242 shares.
Insider Transactions: Since May 26, 2016, the stock had 0 insider buys, and 1 sale for $177,562 net activity. 300 shares with value of $7,110 were sold by Hagan Charles T III on Thursday, May 26. Ramsey John S Jr sold $177,562 worth of stock.
More notable recent BNC Bancorp (NASDAQ:BNCN) news were published by: Prnewswire.com which released: “BNC Bancorp Completes Merger With High Point Bank Corporation” on November 01, 2016, also Marketwatch.com with their article: “BNC Bancorp downgraded to market perform from outperform at Raymond James” published on June 06, 2009, 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: Prnewswire.com and their article: “BNC Bancorp Announces FDIC Approval for High Point Bank Corporation Merger …” published on October 04, 2016 as well as Reuters.com‘s news article titled: “BRIEF-BNC Bancorp says received regulatory approvals for High Point Bank C…” with publication date: October 17, 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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