Paragon Commercial Corporation (PBNC) Shares Bought by RMB Capital Management LLC

RMB Capital Management LLC boosted its position in shares of Paragon Commercial Corporation (NASDAQ:PBNC) by 29.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 109,112 shares of the bank’s stock after buying an additional 24,696 shares during the period. RMB Capital Management LLC owned approximately 2.00% of Paragon Commercial Corporation worth $5,836,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Maltese Capital Management LLC purchased a new position in shares of Paragon Commercial Corporation during the fourth quarter worth $127,000. Westfield Capital Management Co. LP purchased a new position in shares of Paragon Commercial Corporation during the first quarter worth $369,000. Signature Financial Management Inc. purchased a new position in shares of Paragon Commercial Corporation during the first quarter worth $455,000. Geode Capital Management LLC raised its position in shares of Paragon Commercial Corporation by 13.1% in the first quarter. Geode Capital Management LLC now owns 10,462 shares of the bank’s stock worth $559,000 after buying an additional 1,210 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its position in shares of Paragon Commercial Corporation by 32.4% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 19,550 shares of the bank’s stock worth $855,000 after buying an additional 4,780 shares in the last quarter. 30.97% of the stock is currently owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Paragon Commercial Corporation (NASDAQ:PBNC)

Shares of Paragon Commercial Corporation (PBNC) traded up 0.62% during mid-day trading on Tuesday, hitting $53.41. The stock had a trading volume of 7,632 shares. Paragon Commercial Corporation has a 52-week low of $33.65 and a 52-week high of $57.05. The firm has a 50 day moving average price of $52.49 and a 200 day moving average price of $49.12. The firm has a market cap of $291.35 million and a PE ratio of 19.99.

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A number of research analysts have recently weighed in on the company. Zacks Investment Research lowered Paragon Commercial Corporation from a “buy” rating to a “hold” rating in a report on Thursday, March 23rd. Sandler O’Neill downgraded Paragon Commercial Corporation from a “buy” rating to a “hold” rating in a research note on Monday, May 1st. ValuEngine upgraded Paragon Commercial Corporation from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Raymond James Financial, Inc. downgraded Paragon Commercial Corporation from an “outperform” rating to a “market perform” rating in a research note on Monday, May 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $43.00.

In other Paragon Commercial Corporation news, Director Thomas B. Oxholm sold 2,375 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $53.73, for a total transaction of $127,608.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

About Paragon Commercial Corporation

Paragon Commercial Corporation is a bank holding company for Paragon Bank (the Bank). The Bank is engaged in general commercial banking in Wake and Mecklenburg Counties, North California. The Bank offers private banking and commercial banking services. Its private banking services include deposit services, such as debit cards and safe deposit boxes.

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