Sandler O’Neill Initiates Coverage on Paragon Commercial Corp (PBNC)
A number of other research analysts have also recently issued reports on the company. Zacks Investment Research cut Paragon Commercial Corp from a “buy” rating to a “hold” rating in a research report on Wednesday, September 21st. Raymond James Financial Inc. began coverage on Paragon Commercial Corp in a research report on Monday, July 11th. They issued a “strong-buy” rating and a $41.00 target price on the stock.
Shares of Paragon Commercial Corp (NASDAQ:PBNC) opened at 38.67 on Wednesday. The firm’s 50-day moving average is $37.13 and its 200 day moving average is $36.33. The firm has a market capitalization of $210.79 million and a P/E ratio of 14.12. Paragon Commercial Corp has a one year low of $33.65 and a one year high of $39.99.
In other news, Director Thomas B. Oxholm purchased 1,500 shares of Paragon Commercial Corp stock in a transaction dated Friday, July 22nd. The shares were bought at an average cost of $36.29 per share, for a total transaction of $54,435.00. Following the completion of the acquisition, the director now owns 23,550 shares in the company, valued at approximately $854,629.50. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.
Paragon Commercial Corp Company Profile
Paragon Commercial Corporation is the holding company for Paragon Bank (the Bank), serving small and middle-market companies, nonprofits, trade associations, property owners associations, law firms, title companies, and private banking clients in the Raleigh and Charlotte metropolitan markets of North Carolina.
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