Bank of New York Mellon Corp lifted its stake in Paragon Commercial Corp (NASDAQ:PBNC) by 18.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,849 shares of the bank’s stock after purchasing an additional 2,165 shares during the quarter. 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 large investors also recently bought and sold shares of PBNC. Nationwide Fund Advisors increased its holdings in shares of Paragon Commercial by 390.2% in the second quarter. Nationwide Fund Advisors now owns 2,343 shares of the bank’s stock valued at $123,000 after purchasing an additional 1,865 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Paragon Commercial by 15,242.3% in the second quarter. The Manufacturers Life Insurance Company now owns 3,989 shares of the bank’s stock valued at $210,000 after purchasing an additional 3,963 shares during the last quarter. New York State Common Retirement Fund increased its holdings in shares of Paragon Commercial by 349.6% in the second quarter. New York State Common Retirement Fund now owns 4,500 shares of the bank’s stock valued at $236,000 after purchasing an additional 3,499 shares during the last quarter. Rhumbline Advisers acquired a new stake in shares of Paragon Commercial in the second quarter valued at approximately $236,000. Finally, Context BH Capital Management LP acquired a new stake in shares of Paragon Commercial in the third quarter valued at approximately $236,000. 32.32% of the stock is owned by hedge funds and other institutional investors.
Paragon Commercial Corp (NASDAQ PBNC) traded down $0.49 during trading hours on Monday, hitting $53.83. The company had a trading volume of 63,800 shares, compared to its average volume of 12,528. 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 firm has a market capitalization of $293.94 and a PE ratio of 20.16. Paragon Commercial Corp has a 12-month low of $44.99 and a 12-month high of $59.95.
Separately, BidaskClub cut Paragon Commercial from a “sell” rating to a “strong sell” rating in a report on Friday, January 26th. One analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. The stock 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.
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