The stock of Pacific Continental Corporation (NASDAQ:PCBK) hit a new 52-week high and has $38.48 target or 124.00% above today’s $17.18 share price. The 5 months bullish chart indicates low risk for the $386.88M company. The 1-year high was reported on Oct, 7 by Barchart.com. If the $38.48 price target is reached, the company will be worth $479.73M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 55,162 shares traded hands. Pacific Continental Corporation (NASDAQ:PCBK) has risen 8.22% since March 4, 2016 and is uptrending. It has outperformed by 0.18% the S&P500.
Analysts await Pacific Continental Corporation (NASDAQ:PCBK) to report earnings on October, 12. They expect $0.26 earnings per share, down 3.70% or $0.01 from last year’s $0.27 per share. PCBK’s profit will be $5.85M for 16.52 P/E if the $0.26 EPS becomes a reality. After $0.27 actual earnings per share reported by Pacific Continental Corporation for the previous quarter, Wall Street now forecasts -3.70% negative EPS growth.
Pacific Continental Corporation (NASDAQ:PCBK) Ratings Coverage
Out of 3 analysts covering Pacific Continental (NASDAQ:PCBK), 3 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Pacific Continental has been the topic of 4 analyst reports since October 16, 2015 according to StockzIntelligence Inc. As per Friday, May 13, the company rating was upgraded by Raymond James. The company was upgraded on Friday, January 22 by Keefe Bruyette & Woods. The firm earned “Mkt Perform” rating on Thursday, December 17 by Raymond James. The firm has “Outperform” rating given on Friday, October 16 by FIG Partners.
According to Zacks Investment Research, “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.”
Insitutional Activity: The institutional sentiment decreased to 1.03 in 2016 Q2. Its down 0.32, from 1.35 in 2016Q1. The ratio worsened, as 4 funds sold all Pacific Continental Corporation shares owned while 34 reduced positions. 5 funds bought stakes while 34 increased positions. They now own 17.92 million shares or 37.94% more from 12.99 million shares in 2016Q1.
Jpmorgan Chase & Co accumulated 0% or 133,684 shares. The Oregon-based Pacific Ridge Cap Prtnrs Limited Co has invested 1.56% in Pacific Continental Corporation (NASDAQ:PCBK). Millennium last reported 44,981 shares in the company. Assetmark holds 0% or 4 shares in its portfolio. Moreover, Nationwide Fund Advsrs has 0% invested in Pacific Continental Corporation (NASDAQ:PCBK) for 14,375 shares. Heartland Advsr owns 734,893 shares or 0.65% of their US portfolio. Buckhead Cap Mgmt Lc, a Georgia-based fund reported 47,160 shares. Royal Financial Bank Of Canada accumulated 0% or 95,060 shares. Naples Advisors Llc holds 0.15% of its portfolio in Pacific Continental Corporation (NASDAQ:PCBK) for 23,517 shares. Citigroup holds 0% or 4,966 shares in its portfolio. Basswood Mgmt Ltd Liability accumulated 1.07M shares or 0.97% of the stock. First Republic Investment Management Incorporated last reported 11,416 shares in the company. State Street Corp owns 322,410 shares or 0% of their US portfolio. Bank Of America De last reported 123,995 shares in the company. Lsv Asset Management has invested 0.01% of its portfolio in Pacific Continental Corporation (NASDAQ:PCBK).
More notable recent Pacific Continental Corporation (NASDAQ:PCBK) news were published by: Prnewswire.com which released: “Pacific Continental Corporation Announces Thomas Ellison and Duane C. Woods …” on September 08, 2016, also Prnewswire.com with their article: “Pacific Continental Corporation Announces Foundation Bancorp, Inc. Final …” published on September 09, 2016, Prnewswire.com published: “Pacific Continental Corporation Completes Acquisition of Foundation Bancorp …” on September 07, 2016. More interesting news about Pacific Continental Corporation (NASDAQ:PCBK) were released by: Prnewswire.com and their article: “Pacific Continental Corporation Announces Jocelyn Lane as Puget Sound Market …” published on September 07, 2016 as well as Prnewswire.com‘s news article titled: “Pacific Continental Corporation Announces Plan to Acquire Foundation Bancorp, Inc.” with publication date: April 26, 2016.
PCBK Company Profile
Pacific Continental Corporation, incorporated on December 8, 1998, 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. The Bank operates over 15 full-service offices in Oregon and Washington, and approximately three loan production offices in Washington, Colorado, and California. The Bank primarily operates in large commercial markets and provides banking and related services designed for community businesses, nonprofit organizations, professional service providers and banking services for business owners. The Firm provides traditional commercial and consumer banking services, including cash management products for businesses, online banking, safe deposit services, debit and automated teller machine (ATM) cards, automated clearing house (ACH) transactions, savings bonds, cashier’s checks, notary services and others.
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