The chart of BNC Bancorp (BNCN) shows a double top with $33.92 target or 7.00% above today’s $31.70 share price. The 5 months chart pattern indicates low risk for the $1.62 billion company. It was reported on Jan, 11 by Finviz.com. If the $33.92 price target is reached, the company will be worth $113.40M more. Double tops are rare but powerful chart patterns. The stock increased 0.48% or $0.15 during the last trading session, hitting $31.7. BNC Bancorp (NASDAQ:BNCN) has risen 34.04% since June 7, 2016 and is uptrending. It has outperformed by 26.62% the S&P500.
Analysts await BNC Bancorp (NASDAQ:BNCN) to report earnings on January, 23. They expect $0.43 earnings per share, up 10.26% or $0.04 from last year’s $0.39 per share. BNCN’s profit will be $21.97 million for 18.43 P/E if the $0.43 EPS becomes a reality. After $0.42 actual earnings per share reported by BNC Bancorp for the previous quarter, Wall Street now forecasts 2.38% EPS growth.
BNC Bancorp (NASDAQ:BNCN) Ratings Coverage
Out of 8 analysts covering BNC Bancorp (NASDAQ:BNCN), 4 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 50% are positive. $29.50 is the highest target while $25 is the lowest. The $27.50 average target is -13.25% below today’s ($31.7) stock price. BNC Bancorp has been the topic of 13 analyst reports since October 13, 2015 according to StockzIntelligence Inc. The stock of BNC Bancorp (NASDAQ:BNCN) earned “Overweight” rating by Piper Jaffray on Wednesday, November 16. The firm earned “Hold” rating on Tuesday, November 22 by Sandler O’Neill. The company was downgraded on Monday, October 26 by Raymond James. Gabelli upgraded the shares of BNCN in a report on Tuesday, January 26 to “Buy” rating. The firm has “Mkt Perform” rating by Keefe Bruyette & Woods given on Tuesday, November 29. The firm has “Outperform” rating by Raymond James given on Monday, May 9. Gabelli downgraded the stock to “Hold” rating in Tuesday, August 9 report. Stephens initiated the shares of BNCN in a report on Wednesday, December 2 with “Overweight” rating. The stock of BNC Bancorp (NASDAQ:BNCN) has “Market Perform” rating given 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 90 banking offices in the Carolinas and Virginia.”
Insitutional Activity: The institutional sentiment decreased to 1.49 in 2016 Q3. Its down 0.24, from 1.73 in 2016Q2. The ratio is negative, as 11 funds sold all BNC Bancorp shares owned while 32 reduced positions. 17 funds bought stakes while 47 increased positions. They now own 27.41 million shares or 17.35% more from 23.36 million shares in 2016Q2.
Phocas Fincl Corp last reported 0.71% of its portfolio in the stock. Apg Asset Nv accumulated 215,981 shares or 0.01% of the stock. Moreover, Renaissance Technology Ltd Llc has 0.01% invested in BNC Bancorp (NASDAQ:BNCN) for 162,892 shares. Delta Asset Management Lc Tn reported 300 shares or 0% of all its holdings. Strs Ohio has 130,000 shares for 0.01% of their US portfolio. Commonwealth Equity Services reported 10,586 shares or 0% of all its holdings. Millennium Management Ltd Liability Company has 103,480 shares for 0% of their US portfolio. Bankshares Of America Corporation De last reported 30,333 shares in the company. Earnest Prns Limited Liability Corporation has 1,300 shares for 0% of their US portfolio. Nationwide Fund accumulated 0% or 26,034 shares. The Illinois-based Perkins Invest Ltd Liability Corp has invested 0.18% in BNC Bancorp (NASDAQ:BNCN). Neuberger Berman Lc has 29,000 shares for 0% of their US portfolio. Invest Counselors Of Maryland Limited Com holds 417,625 shares or 0.61% of its portfolio. Moreover, Ubs Asset Mngmt Americas has 0% invested in BNC Bancorp (NASDAQ:BNCN) for 17,700 shares. Vantage Inv Advisors Limited Liability Company owns 1,340 shares or 0.01% of their US portfolio.
Insider Transactions: Since November 15, 2016, the stock had 0 insider purchases, and 2 sales for $513,062 net activity. Sloan Thomas R sold 11,000 shares worth $335,500. $177,562 worth of BNC Bancorp (NASDAQ:BNCN) was sold by Ramsey John S Jr on Tuesday, November 15.
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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