Northpointe Capital LLC raised its stake in shares of BNC Bancorp (NASDAQ:BNCN) by 17.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 466,565 shares of the financial services provider’s stock after buying an additional 70,512 shares during the period. BNC Bancorp makes up 1.3% of Northpointe Capital LLC’s portfolio, making the stock its 20th largest position. Northpointe Capital LLC’s holdings in BNC Bancorp were worth $10,596,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Bank of Montreal Can acquired a new stake in shares of BNC Bancorp during the second quarter valued at about $199,000. Trust Co. of Virginia VA acquired a new stake in shares of BNC Bancorp during the second quarter valued at about $211,000. Menta Capital LLC acquired a new stake in shares of BNC Bancorp during the first quarter valued at about $276,000. Finally, Goldman Sachs Group Inc. increased its stake in shares of BNC Bancorp by 131.6% in the first quarter. Goldman Sachs Group Inc. now owns 784,614 shares of the financial services provider’s stock valued at $16,571,000 after buying an additional 445,771 shares during the period. 49.59% of the stock is currently owned by institutional investors.
Shares of BNC Bancorp (NASDAQ:BNCN) traded down 0.58% during trading on Monday, hitting $24.18. 102,630 shares of the company traded hands. BNC Bancorp has a one year low of $19.45 and a one year high of $26.29. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of 17.96 and a beta of 0.92. The firm has a 50 day moving average price of $24.47 and a 200-day moving average price of $23.10.
BNC Bancorp (NASDAQ:BNCN) last released its earnings results on Wednesday, July 20th. The financial services provider reported $0.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.02. BNC Bancorp had a net margin of 20.77% and a return on equity of 10.32%. Analysts predict that BNC Bancorp will post $1.62 EPS for the current year.
Several analysts have issued reports on the stock. Zacks Investment Research downgraded shares of BNC Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, September 20th. Gabelli downgraded shares of BNC Bancorp from a “buy” rating to a “hold” rating and set a $27.00 price target on the stock. in a report on Tuesday, August 9th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. BNC Bancorp presently has a consensus rating of “Buy” and a consensus target price of $26.50.
About BNC Bancorp
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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