ValuEngine Upgrades Paragon Commercial Corporation (PBNC) to Buy

Paragon Commercial Corporation (NASDAQ:PBNC) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Saturday.

A number of other brokerages have also recently weighed in on PBNC. Sandler O’Neill cut shares of Paragon Commercial Corporation from a “buy” rating to a “hold” rating in a research report on Monday, May 1st. Raymond James Financial, Inc. cut shares of Paragon Commercial Corporation from an “outperform” rating to a “market perform” rating in a research report on Monday, May 1st. Finally, Zacks Investment Research cut shares of Paragon Commercial Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, May 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $43.00.

Shares of Paragon Commercial Corporation (NASDAQ:PBNC) traded down 0.72% during mid-day trading on Friday, hitting $53.80. The stock had a trading volume of 11,242 shares. Paragon Commercial Corporation has a 12-month low of $33.65 and a 12-month high of $57.05. The stock has a market cap of $293.48 million and a P/E ratio of 20.13. The company’s 50 day moving average price is $52.54 and its 200 day moving average price is $48.90.

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In related news, Director Thomas B. Oxholm sold 2,375 shares of the company’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $53.73, for a total transaction of $127,608.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

A number of institutional investors have recently bought and sold shares of PBNC. Renaissance Technologies LLC purchased a new position in Paragon Commercial Corporation during the first quarter worth $267,000. RMB Capital Management LLC boosted its position in Paragon Commercial Corporation by 29.3% in the first quarter. RMB Capital Management LLC now owns 109,112 shares of the bank’s stock worth $5,836,000 after buying an additional 24,696 shares during the last quarter. Mendon Capital Advisors Corp boosted its position in Paragon Commercial Corporation by 3.3% in the first quarter. Mendon Capital Advisors Corp now owns 117,810 shares of the bank’s stock worth $6,302,000 after buying an additional 3,815 shares during the last quarter. Geode Capital Management LLC boosted 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 during the last quarter. Finally, Vanguard Group Inc. purchased a new position in Paragon Commercial Corporation during the first quarter worth $3,323,000. 30.97% of the stock is owned by institutional investors.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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