BNC Bancorp (BNCN) Sees Large Volume Increase
BNC Bancorp (NASDAQ:BNCN) shares saw strong trading volume on Friday . 282,577 shares traded hands during mid-day trading, an increase of 101% from the previous session’s volume of 140,508 shares.The stock last traded at $24.13 and had previously closed at $24.11.
A number of research analysts have commented on the stock. Gabelli cut shares of BNC Bancorp from a “buy” rating to a “hold” rating and set a $27.00 target price on the stock. in a research report on Tuesday, August 9th. Raymond James Financial Inc. upgraded shares of BNC Bancorp from a “market perform” rating to an “outperform” rating in a research note on Monday, May 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $26.50.
The stock has a 50 day moving average price of $23.90 and a 200 day moving average price of $22.42. The firm has a market cap of $1.16 billion and a P/E ratio of 17.93.
BNC Bancorp (NASDAQ:BNCN) last announced its quarterly earnings results on Wednesday, July 20th. The financial services provider reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. Equities research analysts anticipate that BNC Bancorp will post $1.62 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 26th. Investors of record on Friday, August 12th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend is Wednesday, August 10th.
Other hedge funds recently bought and sold shares of the company. Victory Capital Management Inc. boosted its stake in 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 in the last quarter. California Public Employees Retirement System boosted its stake in BNC Bancorp by 45.3% in the fourth quarter. California Public Employees Retirement System now owns 122,919 shares of the financial services provider’s stock worth $3,120,000 after buying an additional 38,300 shares in the last quarter. Finally, Swiss National Bank bought a new stake in BNC Bancorp during the fourth quarter worth approximately $1,246,000.
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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