The stock of BNC Bancorp (NASDAQ:BNCN) reached all time high today, Nov, 10 and still has $44.95 target or 69.00% above today’s $26.60 share price. This indicates more upside for the $1.32B company. This technical setup was reported by Barchart.com. If the $44.95 PT is reached, the company will be worth $910.80M more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 43,695 shares traded hands. BNC Bancorp (NASDAQ:BNCN) has risen 22.66% since April 8, 2016 and is uptrending. It has outperformed by 17.01% the S&P500.
BNC Bancorp (NASDAQ:BNCN) Ratings Coverage
Out of 5 analysts covering BNC Bancorp (NASDAQ:BNCN), 3 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 60% are positive. BNC Bancorp has been the topic of 9 analyst reports since October 13, 2015 according to StockzIntelligence Inc. The firm has “Market Perform” rating by Raymond James given on Monday, October 26. The rating was initiated by Stephens on Wednesday, December 2 with “Overweight”. The firm earned “Outperform” rating on Monday, May 9 by Raymond James. Gabelli downgraded the shares of BNCN in a report on Tuesday, August 9 to “Hold” rating. The company was upgraded on Tuesday, January 26 by Gabelli. The firm earned “Market Perform” rating on Tuesday, October 13 by Hovde Group.
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.
Moreover, Zurcher Kantonalbank (Zurich Cantonalbank) has 0% invested in BNC Bancorp (NASDAQ:BNCN) for 977 shares. Citigroup Inc holds 2,015 shares or 0% of its portfolio. The New York-based Millennium Mgmt has invested 0% in BNC Bancorp (NASDAQ:BNCN). State Street accumulated 0% or 563,690 shares. Vantage Advisors Ltd Llc holds 0.01% or 1,340 shares in its portfolio. Morgan Stanley holds 3,323 shares or 0% of its portfolio. Sheets Smith Wealth Mngmt holds 12,321 shares or 0.08% of its portfolio. D E Shaw And, a New York-based fund reported 11,369 shares. First Tru Advsr L P has 0% invested in the company for 56,084 shares. Financial Bank Of Montreal Can holds 0% of its portfolio in BNC Bancorp (NASDAQ:BNCN) for 8,777 shares. Royal Retail Bank Of Canada accumulated 3,197 shares or 0% of the stock. Penn Cap Mgmt holds 0.79% or 599,654 shares in its portfolio. Banc Funds Ltd last reported 0.36% of its portfolio in the stock. Franklin reported 1.08M shares or 0.01% of all its holdings. Franklin Street Advisors Nc accumulated 0.07% or 17,407 shares.
Insider Transactions: Since May 11, 2016, the stock had 0 buys, and 1 insider sale for $7,110 net activity. Hagan Charles T III sold $7,110 worth of stock or 300 shares. 3,000 shares with value of $66,690 were sold by Ramsey John S Jr on Wednesday, May 11.
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 Prnewswire.com with their article: “BNC Bancorp Announces Receipt of Regulatory Approvals for High Point Bank …” published on October 17, 2016, Journalnow.com published: “BNC Bancorp posts another record quarterly profit” on October 21, 2016. More interesting news about BNC Bancorp (NASDAQ:BNCN) were released by: Prnewswire.com and their article: “BNC Bancorp Announces Commencement Of Common Stock Offering” published on July 20, 2016 as well as Marketwatch.com‘s news article titled: “BNC Bancorp downgraded to market perform from outperform at Raymond James” with publication date: June 06, 2009.
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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