BNC Bancorp (NASDAQ:BNCN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “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. “
Separately, Gabelli downgraded BNC Bancorp from a “buy” rating to a “hold” rating and set a $27.00 price objective for the company. in a research report on Tuesday, August 9th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $26.50.
BNC Bancorp (NASDAQ:BNCN) opened at 24.50 on Tuesday. BNC Bancorp has a 52-week low of $19.45 and a 52-week high of $26.29. The stock’s 50 day moving average price is $24.46 and its 200 day moving average price is $23.07. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of 18.20 and a beta of 0.85.
BNC Bancorp (NASDAQ:BNCN) last posted its quarterly earnings results on Wednesday, July 20th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.02. BNC Bancorp had a net margin of 20.77% and a return on equity of 10.32%. On average, analysts forecast that BNC Bancorp will post $1.62 EPS for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of BNCN. Legal & General Group Plc increased its position in shares of BNC Bancorp by 7.0% in the second quarter. Legal & General Group Plc now owns 4,724 shares of the financial services provider’s stock valued at $106,000 after buying an additional 311 shares during the period. Teacher Retirement System of Texas increased its position in shares of BNC Bancorp by 22.1% in the second quarter. Teacher Retirement System of Texas now owns 5,449 shares of the financial services provider’s stock valued at $124,000 after buying an additional 986 shares during the period. BlackRock Inc. increased its position in shares of BNC Bancorp by 317.4% in the second quarter. BlackRock Inc. now owns 8,194 shares of the financial services provider’s stock valued at $186,000 after buying an additional 6,231 shares during the period. Bank of Montreal Can acquired a new position in shares of BNC Bancorp during the second quarter valued at $199,000. Finally, Trust Co. of Virginia VA acquired a new position in shares of BNC Bancorp during the second quarter valued at $211,000. Institutional investors own 49.59% of the company’s stock.
About BNC Bancorp
BNC Bancorp is a bank holding company 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.
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