BNC Bancorp (BNCN) Sees Large Volume Increase
BNC Bancorp (NASDAQ:BNCN) saw an uptick in trading volume on Friday . 1,154,113 shares traded hands during mid-day trading, an increase of 184% from the previous session’s volume of 405,863 shares.The stock last traded at $24.26 and had previously closed at $24.41.
A number of equities research analysts have recently weighed in on BNCN shares. Raymond James Financial Inc. upgraded shares of BNC Bancorp from a “market perform” rating to an “outperform” rating in a report on Monday, May 9th. Zacks Investment Research lowered shares of BNC Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, April 27th. Finally, Hovde Group boosted their price objective on shares of BNC Bancorp from $22.00 to $23.00 and gave the stock a “market perform” rating in a report on Monday, April 25th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $26.30.
The stock has a market capitalization of $1.10 billion and a P/E ratio of 17.98. The company’s 50 day moving average price is $23.17 and its 200-day moving average price is $22.13.
BNC Bancorp (NASDAQ:BNCN) last released its earnings results 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. Equities research analysts anticipate that BNC Bancorp will post $1.59 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 26th. Shareholders of record on Friday, August 12th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date of this dividend is Wednesday, August 10th.
In other BNC Bancorp news, Director John S. Ramsey, Jr. sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 11th. The shares were sold at an average price of $22.23, for a total transaction of $66,690.00. Following the sale, the director now owns 17,000 shares in the company, valued at approximately $377,910. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
A number of large investors recently made changes to their positions in BNCN. New York State Common Retirement Fund raised its stake in shares of BNC Bancorp by 8.6% in the fourth quarter. New York State Common Retirement Fund now owns 52,120 shares of the financial services provider’s stock worth $1,323,000 after buying an additional 4,122 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of BNC Bancorp by 20.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 40,584 shares of the financial services provider’s stock worth $1,031,000 after buying an additional 6,947 shares during the period. Victory Capital Management Inc. raised its stake in shares of BNC Bancorp by 14.2% in the fourth quarter. Victory Capital Management Inc. now owns 66,282 shares of the financial services provider’s stock worth $1,682,000 after buying an additional 8,253 shares during the period. Polaris Capital Management LLC raised its stake in shares of BNC Bancorp by 5.0% in the fourth quarter. Polaris Capital Management LLC now owns 416,895 shares of the financial services provider’s stock worth $10,581,000 after buying an additional 19,700 shares during the period. Finally, Russell Frank Co raised its stake in shares of BNC Bancorp by 131.6% in the fourth quarter. Russell Frank Co now owns 42,028 shares of the financial services provider’s stock worth $1,082,000 after buying an additional 23,880 shares during the period.
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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