Several other analysts have also issued reports on PBNC. Zacks Investment Research raised Paragon Commercial Corporation from a sell rating to a hold rating in a report on Tuesday, July 4th. Sandler O’Neill lowered Paragon Commercial Corporation from a buy rating to a hold rating in a report on Monday, May 1st. ValuEngine raised Paragon Commercial Corporation from a hold rating to a buy rating in a report on Saturday, June 17th. Finally, Raymond James Financial, Inc. lowered Paragon Commercial Corporation from an outperform rating to a market perform rating in a report on Monday, May 1st. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $43.00.
Paragon Commercial Corporation (NASDAQ:PBNC) traded up 0.33% on Thursday, hitting $52.33. The stock had a trading volume of 18,384 shares. The firm has a 50-day moving average of $52.43 and a 200 day moving average of $50.61. The company has a market capitalization of $285.62 million and a price-to-earnings ratio of 20.57. Paragon Commercial Corporation has a 52 week low of $35.70 and a 52 week high of $57.05.
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In other Paragon Commercial Corporation news, Director Thomas B. Oxholm sold 2,375 shares of the business’s stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which is available at this link.
Several institutional investors have recently added to or reduced their stakes in the company. Eidelman Virant Capital acquired a new position in Paragon Commercial Corporation during the first quarter worth $2,683,000. Signature Financial Management Inc. acquired a new position in Paragon Commercial Corporation during the first quarter worth $455,000. Raymond James Financial Services Advisors Inc. raised its position in Paragon Commercial Corporation by 0.8% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 19,711 shares of the bank’s stock worth $1,054,000 after buying an additional 161 shares during the period. River Oaks Capital LLC raised its position in Paragon Commercial Corporation by 19.3% in the first quarter. River Oaks Capital LLC now owns 36,401 shares of the bank’s stock worth $1,947,000 after buying an additional 5,900 shares during the period. Finally, Westfield Capital Management Co. LP acquired a new position in Paragon Commercial Corporation during the first quarter worth $369,000. 31.52% of the stock is owned by hedge funds and other institutional investors.
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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