Pacific Continental Corp. (PCBK) Raised to Hold at Zacks Investment Research
According to Zacks, “PACIFIC CONTINENTAL is a one-bank holding company. Their principal business activities are conducted through their full- service commercial bank subsidiary, PacificContinental Bank. The Bank is engaged in general commercial banking, with emphasis on lending to small and medium-sized businesses and construction lending for commercial facilities and single family residences. The Bank provides a range of financial services tailored to the needs of the community. “
A number of other research analysts also recently issued reports on the company. Sandler O’Neill lowered Pacific Continental Corp. from a buy rating to a hold rating in a report on Tuesday, August 30th. DA Davidson reissued a buy rating and set a $20.00 price objective on shares of Pacific Continental Corp. in a report on Tuesday, August 23rd. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has an average rating of Buy and an average target price of $18.50.
Shares of Pacific Continental Corp. (NASDAQ:PCBK) opened at 16.75 on Tuesday. The company has a market capitalization of $330.49 million, a P/E ratio of 17.38 and a beta of 0.89. Pacific Continental Corp. has a one year low of $12.80 and a one year high of $17.12. The firm has a 50 day moving average price of $15.73 and a 200 day moving average price of $16.04.
Pacific Continental Corp. (NASDAQ:PCBK) last announced its earnings results on Wednesday, July 20th. The financial services provider reported $0.13 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by $0.15. Pacific Continental Corp. had a return on equity of 9.86% and a net margin of 21.78%. On average, equities research analysts predict that Pacific Continental Corp. will post $0.99 EPS for the current fiscal year.
Several large investors have recently modified their holdings of the company. BlackRock Institutional Trust Company N.A. boosted its position in Pacific Continental Corp. by 0.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 797,361 shares of the financial services provider’s stock worth $12,527,000 after buying an additional 2,380 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Pacific Continental Corp. by 5.2% in the second quarter. Dimensional Fund Advisors LP now owns 735,197 shares of the financial services provider’s stock worth $11,550,000 after buying an additional 36,622 shares in the last quarter. Vanguard Group Inc. boosted its position in Pacific Continental Corp. by 17.8% in the second quarter. Vanguard Group Inc. now owns 643,875 shares of the financial services provider’s stock worth $10,116,000 after buying an additional 97,123 shares in the last quarter. Renaissance Technologies LLC boosted its position in Pacific Continental Corp. by 3.9% in the first quarter. Renaissance Technologies LLC now owns 374,100 shares of the financial services provider’s stock worth $6,034,000 after buying an additional 14,200 shares in the last quarter. Finally, Hillcrest Asset Management LLC purchased a new position in Pacific Continental Corp. during the first quarter worth approximately $5,215,000. Institutional investors own 66.50% of the company’s stock.
About Pacific Continental Corp.
Pacific Continental Corporation is a bank holding company. The Company’s principal business activities are conducted through its subsidiary, Pacific Continental Bank (the Bank), an Oregon state-chartered bank with deposits insured by the Federal Deposit Insurance Corporation (FDIC). The Bank operates in over three primary markets, including Eugene, Oregon, Portland; Oregon/Southwest Washington, and Seattle, Washington.
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