Mendon Capital Advisors Corp buys $24,542,422 stake in BNC Bancorp (BNCN)

BNC Bancorp (BNCN) : Mendon Capital Advisors Corp scooped up 238,290 additional shares in BNC Bancorp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 9, 2016. The investment management firm now holds a total of 1,108,010 shares of BNC Bancorp which is valued at $24,542,422.BNC Bancorp makes up approximately 4.55% of Mendon Capital Advisors Corp’s portfolio.

Other Hedge Funds, Including , Nine Chapters Capital Management sold out all of its stake in BNCN during the most recent quarter. The investment firm sold 12,800 shares of BNCN which is valued $283,520.Schwab Charles Investment Management Inc boosted its stake in BNCN in the latest quarter, The investment management firm added 9,272 additional shares and now holds a total of 122,713 shares of BNC Bancorp which is valued at $2,680,052. Geneva Advisors sold out all of its stake in BNCN during the most recent quarter. The investment firm sold 8,300 shares of BNCN which is valued $181,272.Buckhead Capital Management reduced its stake in BNCN by selling 2,490 shares or 6.17% in the most recent quarter. The Hedge Fund company now holds 37,849 shares of BNCN which is valued at $846,304. BNC Bancorp makes up approx 0.16% of Buckhead Capital Management’s portfolio.

BNC Bancorp closed down -0.03 points or -0.14% at $22.15 with 1,03,064 shares getting traded on Friday. Post opening the session at $22.14, the shares hit an intraday low of $21.95 and an intraday high of $22.31 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Many Wall Street Analysts have commented on BNC Bancorp. BNC Bancorp was Upgraded by Raymond James to ” Outperform” on May 9, 2016. Company shares were Reiterated by Hovde Group on Apr 25, 2016 to “Market Perform”, Firm has raised the Price Target to $ 23 from a previous price target of $22 .

BNC Bancorp is a bank holding company for Bank of North Carolina (BNC). 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. The Company’s operations are managed along two operating segments consisting of banking operations and mortgage origination. The primary purpose of the mortgage origination operating segment is the origination and subsequent sale of residential mortgage loans while all other banking activities are performed in the banking operations segment. BNC also offers brokerage services including financial planning wealth management private banking and insurance products.

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