BNC Bancorp (NASDAQ:BNCN) shot up 2.2% during mid-day trading on Friday . The stock traded as high as $25.02 and last traded at $25.00, with a volume of 246,520 shares. The stock had previously closed at $24.46.

Separately, Gabelli downgraded BNC Bancorp from a “buy” rating to a “hold” rating and set a $27.00 price target for the company. in a report on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $26.50.

The firm’s 50 day moving average price is $24.35 and its 200 day moving average price is $22.80. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 18.48 and a beta of 0.85.

BNC Bancorp (NASDAQ:BNCN) last released its quarterly earnings results on Wednesday, July 20th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. BNC Bancorp had a return on equity of 10.32% and a net margin of 20.77%. Analysts predict that BNC Bancorp will post $1.62 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, August 26th. Investors of record on Friday, August 12th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, August 10th. This represents a $0.20 annualized dividend and a yield of 0.80%. BNC Bancorp’s payout ratio is 15.04%.

A number of hedge funds have recently made changes to their positions in BNCN. Legal & General Group Plc increased its stake in shares of BNC Bancorp by 7.0% in the second quarter. Legal & General Group Plc now owns 4,724 shares of the financial services provider’s stock valued at $106,000 after buying an additional 311 shares during the last quarter. Analytic Investors LLC increased its stake in shares of BNC Bancorp by 1.4% in the second quarter. Analytic Investors LLC now owns 38,026 shares of the financial services provider’s stock valued at $864,000 after buying an additional 519 shares during the last quarter. Teacher Retirement System of Texas increased its stake in shares of BNC Bancorp by 22.1% in the second quarter. Teacher Retirement System of Texas now owns 5,449 shares of the financial services provider’s stock valued at $124,000 after buying an additional 986 shares during the last quarter. Parametric Portfolio Associates LLC increased its stake in shares of BNC Bancorp by 12.4% in the second quarter. Parametric Portfolio Associates LLC now owns 12,547 shares of the financial services provider’s stock valued at $285,000 after buying an additional 1,380 shares during the last quarter. Finally, Lord Abbett & CO. LLC increased its stake in shares of BNC Bancorp by 0.8% in the second quarter. Lord Abbett & CO. LLC now owns 187,000 shares of the financial services provider’s stock valued at $4,247,000 after buying an additional 1,400 shares during the last quarter. Hedge funds and other institutional investors own 49.59% of the company’s stock.

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.

5 Day Chart for NASDAQ:BNCN

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