Equities research analysts at Piper Jaffray Cos. started coverage on shares of BNC Bancorp (NASDAQ:BNCN) in a research report issued to clients and investors on Wednesday. The brokerage set an “overweight” rating on the financial services provider’s stock.

BNCN has been the topic of several other reports. Zacks Investment Research raised BNC Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, September 27th. Gabelli lowered BNC Bancorp from a “buy” rating to a “hold” rating and set a $27.00 price objective on the stock. in a research note on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $26.88.

Analyst Recommendations for BNC Bancorp (NASDAQ:BNCN)

BNC Bancorp (NASDAQ:BNCN) opened at 28.65 on Wednesday. BNC Bancorp has a 52 week low of $19.45 and a 52 week high of $28.95. The firm has a 50-day moving average of $24.80 and a 200 day moving average of $23.91. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of 20.29 and a beta of 0.80.

BNC Bancorp (NASDAQ:BNCN) last released its quarterly earnings data on Thursday, October 20th. The financial services provider reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.02. BNC Bancorp had a return on equity of 9.98% and a net margin of 22.11%. On average, analysts anticipate that BNC Bancorp will post $1.63 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 25th. Stockholders of record on Friday, November 11th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.70%. The ex-dividend date is Tuesday, November 8th. BNC Bancorp’s dividend payout ratio is currently 3.57%.

Institutional investors have recently added to or reduced their stakes in the stock. California Public Employees Retirement System raised its position in BNC Bancorp by 11.8% in the second quarter. California Public Employees Retirement System now owns 120,628 shares of the financial services provider’s stock valued at $2,740,000 after buying an additional 12,709 shares during the period. Northpointe Capital LLC raised its position in BNC Bancorp by 17.8% in the second quarter. Northpointe Capital LLC now owns 466,565 shares of the financial services provider’s stock valued at $10,596,000 after buying an additional 70,512 shares during the period. First Trust Advisors LP raised its position in BNC Bancorp by 43.2% in the second quarter. First Trust Advisors LP now owns 56,084 shares of the financial services provider’s stock valued at $1,274,000 after buying an additional 16,908 shares during the period. Swiss National Bank raised its position in BNC Bancorp by 17.1% in the second quarter. Swiss National Bank now owns 70,400 shares of the financial services provider’s stock valued at $1,599,000 after buying an additional 10,300 shares during the period. Finally, California State Teachers Retirement System raised its position in BNC Bancorp by 25.4% in the second quarter. California State Teachers Retirement System now owns 79,410 shares of the financial services provider’s stock valued at $1,803,000 after buying an additional 16,076 shares during the period. 53.91% of the stock is currently owned by institutional investors and hedge funds.

BNC Bancorp Company Profile

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.

5 Day Chart for NASDAQ:BNCN

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