JPMorgan Chase & Co. Lowers Position in BNC Bancorp (BNCN)

JPMorgan Chase & Co. reduced its position in shares of BNC Bancorp (NASDAQ:BNCN) by 56.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 43,342 shares of the financial services provider’s stock after selling 56,222 shares during the period. JPMorgan Chase & Co. owned about 0.08% of BNC Bancorp worth $1,519,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in BNCN. Suntrust Banks Inc. increased its position in shares of BNC Bancorp by 33.7% in the first quarter. Suntrust Banks Inc. now owns 14,071 shares of the financial services provider’s stock valued at $493,000 after buying an additional 3,546 shares in the last quarter. US Bancorp DE increased its position in shares of BNC Bancorp by 85.7% in the first quarter. US Bancorp DE now owns 5,176 shares of the financial services provider’s stock valued at $181,000 after buying an additional 2,388 shares in the last quarter. First Trust Advisors LP increased its position in shares of BNC Bancorp by 61.7% in the first quarter. First Trust Advisors LP now owns 142,272 shares of the financial services provider’s stock valued at $4,987,000 after buying an additional 54,284 shares in the last quarter. ARP Americas LLC purchased a new position in shares of BNC Bancorp during the first quarter valued at approximately $9,567,000. Finally, Berkshire Asset Management LLC PA increased its position in shares of BNC Bancorp by 240.0% in the first quarter. Berkshire Asset Management LLC PA now owns 27,006 shares of the financial services provider’s stock valued at $947,000 after buying an additional 19,063 shares in the last quarter. Institutional investors own 62.60% of the company’s stock.

BNC Bancorp (NASDAQ:BNCN) traded down 0.28% during mid-day trading on Friday, hitting $35.15. BNC Bancorp has a 12-month low of $21.54 and a 12-month high of $37.15. The stock has a 50-day moving average of $33.07 and a 200 day moving average of $33.59.

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Several research analysts have commented on BNCN shares. Zacks Investment Research upgraded shares of BNC Bancorp from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research report on Friday, June 2nd. ValuEngine upgraded shares of BNC Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Keefe, Bruyette & Woods restated a “hold” rating and set a $37.75 price objective on shares of BNC Bancorp in a research report on Thursday, April 20th. Finally, BidaskClub raised shares of BNC Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, June 9th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $34.58.

BNC Bancorp Company Profile

BNC Bancorp is a one-bank holding company for Bank of North Carolina (the Bank). The Bank is a full service commercial bank, which provides a range of banking services tailored to the particular banking needs of the communities it serves. It is 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 commercial and consumer loans.

Institutional Ownership by Quarter for BNC Bancorp (NASDAQ:BNCN)

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