Paragon Commercial Corp (NASDAQ:PBNC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

According to Zacks, “Paragon Commercial Corporation is the parent company of Paragon Bank, which provides a private banking services to businesses, professionals, executives, entrepreneurs and other individuals. The company services consist of extensive courier service, online and mobile technologies, free worldwide ATM access. It operates primarily in Raleigh, Cary and Charlotte, NC. Paragon Commercial Corporation is headquartered in Raleigh, North Carolina. “

Separately, Raymond James Financial Inc. assumed coverage on Paragon Commercial Corp in a report on Monday, July 11th. They set a “strong-buy” rating and a $41.00 target price on the stock.

Shares of Paragon Commercial Corp (NASDAQ:PBNC) opened at 38.25 on Wednesday. The firm has a 50-day moving average price of $36.92 and a 200-day moving average price of $36.22. Paragon Commercial Corp has a 52-week low of $33.65 and a 52-week high of $39.28. The stock has a market capitalization of $208.50 million and a P/E ratio of 13.96.

In related news, Director Thomas B. Oxholm purchased 1,500 shares of the company’s stock in a transaction dated Friday, July 22nd. The shares were purchased at an average cost of $36.29 per share, with a total value of $54,435.00. Following the transaction, the director now directly owns 23,550 shares in the company, valued at approximately $854,629.50. The purchase was disclosed in a document filed with the SEC, which is available through this link.

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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