California State Teachers Retirement System lifted its holdings in shares of Paragon Commercial Corp (NASDAQ:PBNC) by 341.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,500 shares of the bank’s stock after purchasing an additional 5,800 shares during the period. California State Teachers Retirement System owned about 0.14% of Paragon Commercial worth $394,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Schwab Charles Investment Management Inc. purchased a new stake in Paragon Commercial in the 2nd quarter worth approximately $373,000. Bank of New York Mellon Corp purchased a new stake in Paragon Commercial in the 2nd quarter worth approximately $613,000. Northern Trust Corp purchased a new stake in Paragon Commercial in the 2nd quarter worth approximately $1,987,000. TIAA CREF Investment Management LLC grew its stake in Paragon Commercial by 5,791.7% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 11,371 shares of the bank’s stock worth $597,000 after acquiring an additional 11,178 shares during the period. Finally, Teachers Advisors LLC grew its stake in Paragon Commercial by 495.2% in the 2nd quarter. Teachers Advisors LLC now owns 7,547 shares of the bank’s stock worth $396,000 after acquiring an additional 6,279 shares during the period. 32.38% of the stock is owned by institutional investors and hedge funds.
Separately, ValuEngine cut shares of Paragon Commercial from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Four research analysts have rated the stock with a hold rating, Paragon Commercial presently has a consensus rating of “Hold”.
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Paragon Commercial Profile
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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