BNC Bancorp (BNCN) was Downgraded by Gabelli & Co to ” Hold” and the brokerage firm has set the Price Target at $27. Earlier the firm had a rating of “Buy ” on the company shares. Gabelli & Co advised their investors in a research report released on Aug 9, 2016.
BNC Bancorp closed down -0.11 points or -0.45% at $24.46 with 1,26,785 shares getting traded on Monday. Post opening the session at $24.5, the shares hit an intraday low of $24.39 and an intraday high of $24.62 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on May 31, 2016, Charles T Iii Hagan (director) sold 300 shares at $23.70 per share price. According to the SEC, on May 12, 2016, John S Jr Ramsey (director) sold 3,000 shares at $22.23 per share price. On Apr 27, 2016, W Swope Jr Montgomery (director) sold 4,500 shares at $21.98 per share price, according to the Form-4 filing with the securities and exchange commission.
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 Companys 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.