Schwab Charles Investment Management Inc. grew its holdings in shares of Pacific Continental Co. (NASDAQ:PCBK) by 160.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 84,229 shares of the financial services provider’s stock after buying an additional 51,829 shares during the period. Schwab Charles Investment Management Inc. owned 0.37% of Pacific Continental worth $2,270,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Wells Fargo & Company MN lifted its holdings in Pacific Continental by 1.4% during the 2nd quarter. Wells Fargo & Company MN now owns 14,042 shares of the financial services provider’s stock worth $359,000 after buying an additional 197 shares during the last quarter. Parametric Portfolio Associates LLC lifted its holdings in Pacific Continental by 13.6% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 11,244 shares of the financial services provider’s stock worth $287,000 after buying an additional 1,348 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Pacific Continental by 0.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 149,522 shares of the financial services provider’s stock worth $3,821,000 after buying an additional 1,386 shares during the last quarter. Great West Life Assurance Co. Can purchased a new stake in Pacific Continental during the 3rd quarter worth about $110,000. Finally, Teachers Advisors LLC lifted its holdings in Pacific Continental by 11.8% during the 2nd quarter. Teachers Advisors LLC now owns 38,980 shares of the financial services provider’s stock worth $996,000 after buying an additional 4,125 shares during the last quarter. 67.49% of the stock is owned by institutional investors.
Shares of Pacific Continental Co. (PCBK) opened at $28.00 on Friday. Pacific Continental Co. has a fifty-two week low of $16.00 and a fifty-two week high of $28.85. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a market capitalization of $637.63, a PE ratio of 24.78, a PEG ratio of 2.17 and a beta of 0.80.
Separately, ValuEngine downgraded Pacific Continental from a “buy” rating to a “hold” rating in a report on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. The company has an average rating of “Hold” and a consensus target price of $28.00.
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Pacific Continental Profile
Pacific Continental Corporation is a bank holding company. The Company’s principal business activities are conducted through its subsidiary, Pacific Continental Bank (the Bank), an Oregon state-chartered bank with deposits insured by the Federal Deposit Insurance Corporation. The Bank operates in three primary markets: Eugene, Oregon, Portland; Oregon/Southwest Washington, and Seattle, Washington.
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