Several other hedge funds have also added to or reduced their stakes in BNCN. TD Asset Management Inc. acquired a new stake in BNC Bancorp during the third quarter worth $620,000. Investment Counselors of Maryland LLC raised its stake in BNC Bancorp by 8.6% in the third quarter. Investment Counselors of Maryland LLC now owns 417,625 shares of the financial services provider’s stock worth $10,157,000 after buying an additional 33,160 shares during the last quarter. RMB Capital Management LLC raised its stake in BNC Bancorp by 292.7% in the third quarter. RMB Capital Management LLC now owns 2,808,826 shares of the financial services provider’s stock worth $68,310,000 after buying an additional 2,093,479 shares during the last quarter. Alps Advisors Inc. acquired a new stake in BNC Bancorp during the third quarter worth $413,000. Finally, First Trust Advisors LP raised its stake in BNC Bancorp by 36.0% in the third quarter. First Trust Advisors LP now owns 76,282 shares of the financial services provider’s stock worth $1,855,000 after buying an additional 20,198 shares during the last quarter. Hedge funds and other institutional investors own 52.20% of the company’s stock.
Forest Hill Capital LLC cut its position in BNC Bancorp (NASDAQ:BNCN) by 20.6% during the fourth quarter, Holdings Channel reports. The fund owned 287,750 shares of the financial services provider’s stock after selling 74,450 shares during the period. BNC Bancorp accounts for approximately 3.0% of Forest Hill Capital LLC’s investment portfolio, making the stock its 14th largest position. Forest Hill Capital LLC owned approximately 0.55% of BNC Bancorp worth $9,179,000 as of its most recent filing with the SEC.
Shares of BNC Bancorp (NASDAQ:BNCN) traded up 3.36% during mid-day trading on Thursday, reaching $35.35. 195,363 shares of the company were exchanged. The stock has a market capitalization of $1.84 billion, a P/E ratio of 25.43 and a beta of 0.90. The stock has a 50 day moving average price of $33.38 and a 200-day moving average price of $27.82. BNC Bancorp has a 12 month low of $19.45 and a 12 month high of $36.92.
The business also recently disclosed an annual dividend, which will be paid on Friday, February 24th. Stockholders of record on Friday, February 10th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, February 8th. This represents a dividend yield of 0.56%. BNC Bancorp’s dividend payout ratio is presently 3.60%.
A number of analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of BNC Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, January 26th. Stephens lowered shares of BNC Bancorp from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, January 25th. Sandler O’Neill downgraded shares of BNC Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, November 22nd. Keefe, Bruyette & Woods downgraded shares of BNC Bancorp from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $26.50 to $32.00 in a report on Tuesday, November 29th. Finally, Piper Jaffray Companies initiated coverage on shares of BNC Bancorp in a report on Wednesday, November 16th. They set an “overweight” rating and a $30.00 price target on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $28.00.
In other news, Director John S. Ramsey, Jr. sold 6,301 shares of BNC Bancorp stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $28.18, for a total value of $177,562.18. Following the transaction, the director now directly owns 20,301 shares of the company’s stock, valued at approximately $572,082.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas R. Sloan sold 11,000 shares of BNC Bancorp stock in a transaction on Wednesday, November 30th. The shares were sold at an average price of $30.50, for a total transaction of $335,500.00. Following the completion of the transaction, the director now directly owns 192,245 shares in the company, valued at $5,863,472.50. The disclosure for this sale can be found here. 6.16% of the stock is currently owned by insiders.
BNC Bancorp Company Profile
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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