Pacific Continental Corp. (NASDAQ:PCBK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “PACIFIC CONTINENTAL is a one-bank holding company. Their principal business activities are conducted through their full- service commercial bank subsidiary, PacificContinental Bank. The Bank is engaged in general commercial banking, with emphasis on lending to small and medium-sized businesses and construction lending for commercial facilities and single family residences. The Bank provides a range of financial services tailored to the needs of the community. “
Several other research firms have also weighed in on PCBK. Sandler O’Neill lowered shares of Pacific Continental Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, August 30th. DA Davidson restated a “buy” rating and set a $20.00 target price on shares of Pacific Continental Corp. in a report on Tuesday, August 23rd. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $18.50.
Pacific Continental Corp. (NASDAQ:PCBK) opened at 16.62 on Tuesday. The stock has a market cap of $327.93 million, a price-to-earnings ratio of 17.24 and a beta of 0.89. The company has a 50-day moving average price of $16.26 and a 200 day moving average price of $16.11. Pacific Continental Corp. has a 12-month low of $12.80 and a 12-month high of $17.12.
Pacific Continental Corp. (NASDAQ:PCBK) last posted its earnings results on Wednesday, July 20th. The financial services provider reported $0.13 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by $0.15. Pacific Continental Corp. had a net margin of 21.78% and a return on equity of 9.86%. On average, equities research analysts predict that Pacific Continental Corp. will post $0.99 EPS for the current year.
Institutional investors have recently modified their holdings of the company. Acrospire Investment Management LLC increased its stake in Pacific Continental Corp. by 41.3% in the second quarter. Acrospire Investment Management LLC now owns 7,642 shares of the financial services provider’s stock valued at $120,000 after buying an additional 2,233 shares during the last quarter. BlackRock Inc. increased its stake in Pacific Continental Corp. by 379.0% in the second quarter. BlackRock Inc. now owns 10,178 shares of the financial services provider’s stock valued at $160,000 after buying an additional 8,053 shares during the last quarter. BlackRock Advisors LLC increased its stake in Pacific Continental Corp. by 9.9% in the second quarter. BlackRock Advisors LLC now owns 10,623 shares of the financial services provider’s stock valued at $167,000 after buying an additional 958 shares during the last quarter. TFS Capital LLC bought a new stake in Pacific Continental Corp. during the second quarter valued at $174,000. Finally, Parametric Portfolio Associates LLC increased its stake in Pacific Continental Corp. by 1.4% in the second quarter. Parametric Portfolio Associates LLC now owns 12,597 shares of the financial services provider’s stock valued at $198,000 after buying an additional 177 shares during the last quarter. Hedge funds and other institutional investors own 58.11% of the company’s stock.
Pacific Continental Corp. Company 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 (FDIC). The Bank operates in over three primary markets, including Eugene, Oregon, Portland; Oregon/Southwest Washington, and Seattle, Washington.
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