Banc Funds Co. LLC Has $19,990,000 Stake in Paragon Commercial Corporation (PBNC)
Banc Funds Co. LLC held its position in shares of Paragon Commercial Corporation (NASDAQ:PBNC) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 380,977 shares of the bank’s stock at the close of the 2nd quarter. Paragon Commercial Corporation accounts for about 0.9% of Banc Funds Co. LLC’s portfolio, making the stock its 24th largest holding. Banc Funds Co. LLC owned 6.98% of Paragon Commercial Corporation worth $19,990,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also bought and sold shares of PBNC. Nationwide Fund Advisors boosted its holdings in Paragon Commercial Corporation 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. Rhumbline Advisers purchased a new stake in Paragon Commercial Corporation in the second quarter valued at $236,000. New York State Common Retirement Fund boosted its holdings in Paragon Commercial Corporation 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. Renaissance Technologies LLC purchased a new stake in Paragon Commercial Corporation in the first quarter valued at $267,000. Finally, Chicago Capital Management LLC acquired a new position in shares of Paragon Commercial Corporation in the second quarter worth about $274,000. 34.24% of the stock is currently owned by institutional investors.
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A number of research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Paragon Commercial Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. TheStreet downgraded shares of Paragon Commercial Corporation from a “c” rating to a “d” rating in a research report on Thursday, July 20th. Finally, ValuEngine upgraded shares of Paragon Commercial Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $43.00.
Paragon Commercial Corporation 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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