BNC Bancorp Touches New 52-Week High - Analyst Blog

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Shares of BNC Bancorp ( BNCN ) crafted a new 52-week high, touching $11.32 in the first half of the trading session on Jun 3, 2013. The closing price of this financial holding company represents a solid year-to-date return of 39.6%. The trading volume over the last 3 months was 26,617 shares.

Despite hitting its 52-week high, this Zacks Rank #2 (Buy) stock has plenty of upside left given its strong estimate revisions over the last 30 days and expected year-over-year earnings growth of 17.41% for 2013.

Growth Drivers

Impressive first-quarter 2013 results - including an earnings surprise of 7.69% - and its series of acquisitions were the primary growth drivers.

On May 31, 2013, BNC Bancorp entered into a definitive agreement with Randolph Bank & Trust Company ( RDBN ) to acquire the latter. The deal has been valued at $10.4 million.

On Apr 29, 2013, BNC Bancorp reported adjusted first-quarter 2013 earnings of 14 cents per share, surpassing the Zacks Consensus Estimate of 13 cents and the prior-year quarter earnings of 11 cents. Better-than-expected results were aided by top-line growth and a decline in operating expenses.

Moreover, the company has delivered positive earnings surprises in the last 4 quarters with an average beat of 40.12%.

Estimate Revisions Show Potency

Over the last 30 days, the Zacks Consensus Estimate has remained stable at $0.66 per share. However, for 2014, the Zacks Consensus Estimate has advanced 3.3% to $0.95 per share.   

Other banks that are also worth considering include American National Bankshares Inc . ( AMNB ) and Ameris Bancorp ( ABCB ). Both these companies carry a Zacks Rank #1 (Strong Buy).



AMERIS BANCORP (ABCB): Free Stock Analysis Report

AMER NATL BNKSH (AMNB): Free Stock Analysis Report

BNC BANCORP (BNCN): Free Stock Analysis Report

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Zacks Investment Research




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Business , Stocks

Referenced Stocks: ABCB , AMNB , BNCN , RDBN

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