ValuEngine Downgrades Paragon Commercial Corporation (PBNC) to Hold
Paragon Commercial Corporation (NASDAQ:PBNC) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.
Other equities analysts also recently issued reports about the company. TheStreet downgraded Paragon Commercial Corporation from a “c” rating to a “d” rating in a research report on Thursday, July 20th. Zacks Investment Research raised shares of Paragon Commercial Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Paragon Commercial Corporation currently has a consensus rating of “Hold” and a consensus price target of $43.00.
Paragon Commercial Corporation (NASDAQ:PBNC) opened at 58.10 on Monday. Paragon Commercial Corporation has a one year low of $36.42 and a one year high of $58.10. The company has a market capitalization of $317.17 million, a P/E ratio of 22.84 and a beta of 0.69. The firm has a 50-day moving average of $54.82 and a 200-day moving average of $54.82.
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Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. California State Teachers Retirement System increased its holdings in shares of Paragon Commercial Corporation by 341.2% in the 2nd quarter. California State Teachers Retirement System now owns 7,500 shares of the bank’s stock valued at $394,000 after acquiring an additional 5,800 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Paragon Commercial Corporation by 15,242.3% during 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. State Street Corp acquired a new stake in shares of Paragon Commercial Corporation during the 2nd quarter worth about $2,343,000. Vanguard Group Inc. lifted its stake in Paragon Commercial Corporation by 16.9% during the second quarter. Vanguard Group Inc. now owns 72,638 shares of the bank’s stock worth $3,811,000 after purchasing an additional 10,520 shares during the last quarter. Finally, Northern Trust Corp purchased a new stake in Paragon Commercial Corporation during the second quarter worth approximately $1,987,000. Institutional investors and hedge funds own 34.24% of the company’s stock.
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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