Paragon Commercial Corporation (PBNC) Insider Phillip R. Jurney Sells 7,875 Shares
Paragon Commercial Corporation (NASDAQ:PBNC) insider Phillip R. Jurney sold 7,875 shares of the business’s stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $48.00, for a total value of $378,000.00. Following the completion of the sale, the insider now directly owns 14,640 shares of the company’s stock, valued at $702,720. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Shares of Paragon Commercial Corporation (NASDAQ:PBNC) opened at 48.40 on Friday. The company has a market capitalization of $263.78 million and a price-to-earnings ratio of 18.06. The company has a 50-day moving average price of $45.28 and a 200-day moving average price of $40.36. Paragon Commercial Corporation has a 12 month low of $33.65 and a 12 month high of $49.10.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ELCO Management Co. LLC purchased a new position in Paragon Commercial Corporation during the third quarter worth approximately $268,000. PNC Financial Services Group Inc. bought a new position in shares of Paragon Commercial Corporation during the third quarter worth about $508,000. Raymond James Financial Services Advisors Inc. boosted 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 company’s stock worth $855,000 after buying an additional 4,780 shares during the period. Siena Capital Management LLC bought a new position in shares of Paragon Commercial Corporation during the fourth quarter worth about $1,619,000. Finally, EJF Capital LLC boosted its position in shares of Paragon Commercial Corporation by 0.7% in the third quarter. EJF Capital LLC now owns 185,858 shares of the company’s stock worth $6,743,000 after buying an additional 1,227 shares during the period. 24.99% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages recently commented on PBNC. Zacks Investment Research raised Paragon Commercial Corporation from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research report on Saturday, October 22nd. Raymond James Financial, Inc. reaffirmed an “outperform” rating and issued a $43.00 target price (up from $41.00) on shares of Paragon Commercial Corporation in a research report on Thursday, October 20th. They noted that the move was a valuation call.
Paragon Commercial Corporation Company 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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