Bank of New York Mellon Corp Boosts Stake in Paragon Commercial Corp (PBNC)

Bank of New York Mellon Corp grew its stake in shares of Paragon Commercial Corp (NASDAQ:PBNC) by 18.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,849 shares of the bank’s stock after acquiring an additional 2,165 shares during the period. Bank of New York Mellon Corp owned about 0.25% of Paragon Commercial worth $783,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Nationwide Fund Advisors lifted its position in shares of Paragon Commercial by 390.2% during the 2nd quarter. Nationwide Fund Advisors now owns 2,343 shares of the bank’s stock valued at $123,000 after acquiring an additional 1,865 shares during the period. New York State Common Retirement Fund lifted its position in shares of Paragon Commercial by 349.6% during the 2nd quarter. New York State Common Retirement Fund now owns 4,500 shares of the bank’s stock valued at $236,000 after acquiring an additional 3,499 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Paragon Commercial by 15,242.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,989 shares of the bank’s stock valued at $210,000 after acquiring an additional 3,963 shares during the period. Context BH Capital Management LP acquired a new stake in shares of Paragon Commercial during the 3rd quarter valued at approximately $236,000. Finally, Rhumbline Advisers acquired a new stake in shares of Paragon Commercial during the 2nd quarter valued at approximately $236,000. Institutional investors own 32.38% of the company’s stock.

Shares of Paragon Commercial Corp (NASDAQ PBNC) opened at $55.96 on Friday. Paragon Commercial Corp has a 12-month low of $43.58 and a 12-month high of $59.95. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market cap of $302.07, a P/E ratio of 22.03 and a beta of 0.57.

A number of equities research analysts have recently issued reports on the stock. BidaskClub downgraded shares of Paragon Commercial from a “hold” rating to a “sell” rating in a research report on Saturday, December 30th. ValuEngine downgraded shares of Paragon Commercial from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. Paragon Commercial presently has an average rating of “Hold”.

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Paragon Commercial 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.

Institutional Ownership by Quarter for Paragon Commercial (NASDAQ:PBNC)

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