5,224 Shares in Paragon Commercial Corporation (NASDAQ:PBNC) Acquired by Chicago Capital Management LLC

Chicago Capital Management LLC acquired a new stake in shares of Paragon Commercial Corporation (NASDAQ:PBNC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,224 shares of the bank’s stock, valued at approximately $274,000.

Other institutional investors have also added to or reduced their stakes in the company. 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 valued at $6,302,000 after buying an additional 3,815 shares during the period. 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 valued at $5,836,000 after buying an additional 24,696 shares during the period. Eidelman Virant Capital acquired a new position in Paragon Commercial Corporation during the first quarter valued at $2,683,000. River Oaks Capital LLC boosted its position in Paragon Commercial Corporation by 19.3% in the first quarter. River Oaks Capital LLC now owns 36,401 shares of the bank’s stock valued at $1,947,000 after buying an additional 5,900 shares during the period. Finally, Aldebaran Financial Inc. acquired a new position in Paragon Commercial Corporation during the first quarter valued at $1,605,000. Institutional investors and hedge funds own 31.52% of the company’s stock.

Paragon Commercial Corporation (NASDAQ:PBNC) traded up 0.50% during mid-day trading on Monday, hitting $52.13. The stock had a trading volume of 5,590 shares. Paragon Commercial Corporation has a 12 month low of $35.70 and a 12 month high of $57.05. The firm’s 50-day moving average is $52.13 and its 200 day moving average is $49.63. The company has a market cap of $284.37 million and a price-to-earnings ratio of 19.51.

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PBNC has been the topic of several research reports. Zacks Investment Research cut Paragon Commercial Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, May 4th. Raymond James Financial, Inc. lowered Paragon Commercial Corporation from an “outperform” rating to a “market perform” rating in a research report on Monday, May 1st. ValuEngine raised Paragon Commercial Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Finally, Sandler O’Neill lowered Paragon Commercial Corporation from a “buy” rating to a “hold” rating in a research report on Monday, May 1st. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $43.00.

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

About Paragon Commercial Corporation

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.

Want to see what other hedge funds are holding PBNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Paragon Commercial Corporation (NASDAQ:PBNC).

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

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