BNC Bancorp (NASDAQ:BNCN) Receives $26.88 Average Target Price from Brokerages
Shares of BNC Bancorp (NASDAQ:BNCN) have received a consensus recommendation of “Buy” from the six analysts that are presently covering the firm. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $26.88.
BNCN has been the subject of a number of recent research reports. Zacks Investment Research upgraded BNC Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, September 27th. Gabelli cut 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.
Shares of BNC Bancorp (NASDAQ:BNCN) opened at 24.32 on Wednesday. The firm’s 50-day moving average is $24.47 and its 200-day moving average is $23.10. BNC Bancorp has a 52 week low of $19.45 and a 52 week high of $26.29. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of 18.07 and a beta of 0.92.
BNC Bancorp (NASDAQ:BNCN) last posted its quarterly earnings data on Wednesday, July 20th. The financial services provider reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. BNC Bancorp had a return on equity of 10.32% and a net margin of 20.77%. On average, equities research analysts anticipate that BNC Bancorp will post $1.62 EPS for the current fiscal year.
A number of hedge funds have recently modified their holdings of the company. Legal & General Group Plc raised its stake 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 worth $106,000 after buying an additional 311 shares during the last quarter. Teacher Retirement System of Texas raised its position in 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 in the last quarter. BlackRock Inc. raised its position in 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 in the last quarter. Bank of Montreal Can purchased a new position in BNC Bancorp during the second quarter valued at $199,000. Finally, Trust Co. of Virginia VA purchased a new position in BNC Bancorp during the second quarter valued at $211,000. 49.59% of the stock is currently owned by hedge funds and other institutional investors.
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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