Paragon Commercial Corporation (NASDAQ:PBNC) has received an average rating of “Hold” from the six research firms that are currently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company.

PBNC has been the subject of several research reports. ValuEngine upgraded Paragon Commercial Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Zacks Investment Research upgraded Paragon Commercial Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. Finally, TheStreet lowered Paragon Commercial Corporation from a “c” rating to a “d” rating in a research report on Thursday, July 20th.

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Institutional investors and hedge funds have recently modified their holdings of the company. Nationwide Fund Advisors grew its position in shares of Paragon Commercial Corporation by 390.2% in the 2nd quarter. Nationwide Fund Advisors now owns 2,343 shares of the bank’s stock worth $123,000 after acquiring an additional 1,865 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Paragon Commercial Corporation by 15,242.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,989 shares of the bank’s stock worth $210,000 after acquiring an additional 3,963 shares in the last quarter. Rhumbline Advisers acquired a new position in shares of Paragon Commercial Corporation in the 2nd quarter worth approximately $236,000. New York State Common Retirement Fund grew its position in shares of Paragon Commercial Corporation by 349.6% in the 2nd quarter. New York State Common Retirement Fund now owns 4,500 shares of the bank’s stock worth $236,000 after acquiring an additional 3,499 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Paragon Commercial Corporation in the 1st quarter worth approximately $267,000. Institutional investors own 34.24% of the company’s stock.

Paragon Commercial Corporation (NASDAQ:PBNC) traded down 0.25% during midday trading on Wednesday, reaching $56.46. 44,987 shares of the company were exchanged. The stock has a market capitalization of $308.22 million, a P/E ratio of 22.19 and a beta of 0.59. Paragon Commercial Corporation has a 52 week low of $35.99 and a 52 week high of $56.99. The firm’s 50 day moving average price is $53.48 and its 200-day moving average price is $53.48.

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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