Notable Price Action: How Analysts Feel About BNC Bancorp After Achieving Record High?

Notable Price Action: How Analysts Feel About BNC Bancorp After Achieving Record High?

The stock of BNC Bancorp (NASDAQ:BNCN) reached all time high today, Nov, 21 and still has $48.59 target or 58.00% above today’s $30.75 share price. This indicates more upside for the $1.65B company. This technical setup was reported by Barchart.com. If the $48.59 PT is reached, the company will be worth $957.00 million 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 183,714 shares traded hands. BNC Bancorp (NASDAQ:BNCN) has risen 37.22% since April 19, 2016 and is uptrending. It has outperformed by 33.36% the S&P500.

BNC Bancorp (NASDAQ:BNCN) Ratings Coverage

Out of 7 analysts covering BNC Bancorp (NASDAQ:BNCN), 5 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 71% are positive. BNC Bancorp has been the topic of 11 analyst reports since October 13, 2015 according to StockzIntelligence Inc. Gabelli downgraded the stock to “Hold” rating in Tuesday, August 9 report. The company was initiated on Wednesday, December 2 by Stephens. Raymond James downgraded the stock to “Market Perform” rating in Monday, October 26 report. As per Tuesday, October 13, the company rating was downgraded by Hovde Group. The stock has “Overweight” rating given by Piper Jaffray on Wednesday, November 16. The company was upgraded on Monday, May 9 by Raymond James. The firm has “Buy” rating by Gabelli given 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 2016 Q2. 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.
Franklin Street Nc has 0.07% invested in the company for 17,407 shares. Moreover, Zebra Mngmt Limited Liability Company has 0.24% invested in BNC Bancorp (NASDAQ:BNCN) for 30,677 shares. Morgan Stanley reported 3,323 shares or 0% of all its holdings. Kennedy Capital Mgmt last reported 201,827 shares in the company. D E Shaw & holds 0% of its portfolio in BNC Bancorp (NASDAQ:BNCN) for 11,369 shares. Blackrock Institutional Trust Na has invested 0% of its portfolio in BNC Bancorp (NASDAQ:BNCN). Teacher Retirement System Of Texas has 5,449 shares for 0% of their US portfolio. Ladenburg Thalmann Financial Serv owns 2,881 shares or 0% of their US portfolio. Emerald Mutual Fund Advisers Tru reported 171,605 shares or 0.22% of all its holdings. Wellington Mngmt Group Inc Llp has 649,816 shares for 0% of their US portfolio. Bnp Paribas Arbitrage Sa holds 1,780 shares or 0% of its portfolio. Glenmede Tru Na has 0% invested in the company for 3,713 shares. The Massachusetts-based Rhumbline Advisers has invested 0% in BNC Bancorp (NASDAQ:BNCN). The Illinois-based Northern Tru has invested 0% in BNC Bancorp (NASDAQ:BNCN). Wells Fargo & Mn has invested 0% of its portfolio in BNC Bancorp (NASDAQ:BNCN).

Insider Transactions: Since May 26, 2016, the stock had 0 insider buys, and 2 sales for $184,672 net activity. Ramsey John S Jr had sold 6,301 shares worth $177,562 on Tuesday, November 15. 300 shares were sold by Hagan Charles T III, worth $7,110.

More notable recent BNC Bancorp (NASDAQ:BNCN) news were published by: Marketwatch.com which released: “BNC Bancorp downgraded to market perform from outperform at Raymond James” on June 06, 2009, also Prnewswire.com with their article: “BNC Bancorp Announces Commencement Of Common Stock Offering” published on July 20, 2016, Prnewswire.com published: “BNC Bancorp Completes Merger With High Point Bank Corporation” on November 01, 2016. More interesting news about BNC Bancorp (NASDAQ:BNCN) were released by: Reuters.com and their article: “BRIEF-BNC Bancorp says received regulatory approvals for High Point Bank C…” published on October 17, 2016 as well as Prnewswire.com‘s news article titled: “BNC Bancorp Announces FDIC Approval for High Point Bank Corporation Merger …” with publication date: October 04, 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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