Should Investors Be Buying BBCN Bancorp (NASDAQ:BBCN) Stock Following Today’s Piper Jaffray Upgrade?


BBCN Bancorp (NASDAQ:BBCN) Stock Upgrade

BBCN Bancorp (NASDAQ:BBCN)’s stock was raised to a solid Neutral by investment advisers at Piper Jaffray. BBCN’s past Underweight rating is has been discontinued by the brokerage firm.

From a total of 7 analysts covering BBCN Bancorp Inc (NASDAQ:BBCN) stock, 2 rate it a ”Buy”, 1 a “Sell”, and 4 a ”Hold”. This means that 29% of the ratings are positive. The highest target price is $22 while the lowest target price is $16. The mean of all analyst targets is $18.29 with a -10.59% below today’s ($18.6) stock price. BBCN Bancorp Inc was the topic of 6 analyst reports since July 28, 2015 according to the firm StockzIntelligence Inc. Piper Jaffray upgraded shares on December 8 to “Neutral” rating.

The stock increased 2.34% or $0.42 during the last trading session, striking $18.6. Approximately shares of stock traded hands. BBCN Bancorp Inc (NASDAQ:BBCN) has risen 30.69% since May 6, 2015 and is uptrending. It has outperformed by 31.48% the S&P500.

The overall sentiment of institutions has increased to 1.42 in Q2 2015. Its up 0.04, from 1.38 in 2015Q2. The ratio improved, as 16 institutions have sold all the shares of BBCN Bancorp Inc that they owned while 44 funds have taken shares off the table. 23 funds have purchased shares for the first time while 62 added to their positions. These institutions now hold 79.89 million shares or 15.22% more than the 69.34 million shares they owned in 2015Q2.

The Fund Alpenglow Capital Lp currently is holding shares equating to 2.2% of its total portfolio in BBCN Bancorp Inc representing a total of 170,800 shares. Another fund,Dean Capital Management, is holding a total of 87,355 shares equating to 1.83% of their holdings. Additionally, Skyline Asset Management Lp has a 1.52 million share stake in BBCN Bancorp Inc which represents 1.72% of their total portfolio. The Fund, Matthew 25 Management Corp, based out of Pennsylvania, has also built up a stake in the stock, which represents a total of 1.44% of their total portfolio. Finally Lombardia Capital Partners Llc, a fund which is based in the state of California reported a total holdings of 1.75 million shares.

Insider activity is a very important aspect to track on any stock. Going back to May 20, 2015, shareholders of BBCN Bancorp Inc have witnessed 0 insider buys, and a total of 2 sales equating to a net activity of approximately $288,807 . Kim Sang Hoon sold 3,779 shares worth approximately $56,307.

BBCN Bancorp, Inc. is a bank holding company. The company has a market cap of $1.45 billion. The Firm offers commercial banking loan and deposit products through its wholly owned subsidiary, BBCN Bank , a California state-chartered bank. It has 16.08 P/E ratio. The Firm offer commercial banking and consumer deposit products through the Bank.

According to Zacks Investment Research, “BBCN Bancorp, Inc. is the parent company of BBCN Bank. BBCN provides business banking products for small- and medium-sized companies, with an emphasis in commercial real estate and business lending, SBA lending and international trade financing. BBCN Bancorp, Inc., formerly known as Nara Bancorp, Inc., is headquartered in Los Angeles, California.” Get a free copy of the Zacks research report on BBCN Bancorp Inc (BBCN).