Paragon Commercial Corporation (PBNC) Director Sells $127,608.75 in Stock
Paragon Commercial Corporation (NASDAQ:PBNC) 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 value of $127,608.75. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
Paragon Commercial Corporation (NASDAQ PBNC) traded down 0.78% during trading on Friday, hitting $53.77. The stock had a trading volume of 6,210 shares. The firm has a 50 day moving average price of $52.60 and a 200-day moving average price of $48.81. The firm has a market capitalization of $293.32 million and a PE ratio of 20.12. Paragon Commercial Corporation has a 1-year low of $33.50 and a 1-year high of $57.05.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Maltese Capital Management LLC acquired a new position in Paragon Commercial Corporation during the fourth quarter worth $127,000. Renaissance Technologies LLC acquired a new position in Paragon Commercial Corporation during the first quarter worth $267,000. Westfield Capital Management Co. LP acquired a new position in Paragon Commercial Corporation during the first quarter worth $369,000. Signature Financial Management Inc. acquired a new position in Paragon Commercial Corporation during the first quarter worth $455,000. Finally, Geode Capital Management LLC raised its position in 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. Institutional investors and hedge funds own 30.97% of the company’s stock.
PBNC has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded Paragon Commercial Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, March 23rd. Raymond James Financial, Inc. downgraded Paragon Commercial Corporation from an “outperform” rating to a “market perform” rating in a research report on Monday, May 1st. Finally, Sandler O’Neill downgraded Paragon Commercial Corporation from a “buy” rating to a “hold” rating in a research report on Monday, May 1st.
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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