BNC Bancorp (NASDAQ:BNCN) Stock Traded 6.3% Above Its 50 Day Average

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Company shares are trading at $35.15 barely above the 50 day moving average which is $33.07 and which is slightly above the 200 day moving average of $33.59. The 50 day moving average was up $2.08 or +6.28% and the 200 day average moved up $1.56. (NASDAQ:BNCN) shares saw light trading volume with 0 shares changing hands by the end of trading on Wednesday. Overall, volume was down nan% under the stocks normal daily volume.

Here are a few substantial investment firms who have updated their positions. Morgan Stanley bolstered its holdings by buying 935 shares an increase of 29.2% as of 03/31/2017. Morgan Stanley currently owns 4,137 shares valued at $145,000. The total value of its holdings increased 42.2%. As of the end of the quarter Aldebaran Financial Inc. had acquired a total of 4 shares growing its holdings by 0.1%. The value of the investment in BNC Bancorp went from $224,000 to $246,000 a change of 9.8% quarter over quarter.

As of quarter end Davy Asset Management Ltd had sold 2,637 shares trimming its stake by 11.1%. The value of the total investment in BNC Bancorp decreased from $869,000 to $836,000 decreasing 3.8% quarter to quarter. As of quarter end Perkins Investment Management, LLC had disposed of 10,175 shares trimming its position 1.3%. The value of the investment in BNCN went from $25,063,000 to $27,181,000 a change of $2,118,000 for the reporting period.

BNC Bancorp, launched on September 19, 2002, 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. The Bank is involved 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. It provides banking services to individuals and small to medium-sized local businesses. It also offers a range of banking services, including traditional products, such as checking and savings accounts. As of December 31, 2016, the Bank conducted operations through 76 full-service banking offices, including 41 branches in North Carolina, 26 branches in South Carolina and nine branches in Virginia..

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