The stock of Pacific Continental Corporation (NASDAQ:PCBK) hit a new 52-week high and has $41.29 target or 125.00% above today’s $18.35 share price. The 6 months bullish chart indicates low risk for the $415.99 million company. The 1-year high was reported on Nov, 11 by Barchart.com. If the $41.29 price target is reached, the company will be worth $519.99M 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. The stock increased 7.00% or $1.2 during the last trading session, hitting $18.35. About 208,954 shares traded hands or 180.98% up from the average. Pacific Continental Corporation (NASDAQ:PCBK) has risen 10.22% since April 11, 2016 and is uptrending. It has outperformed by 4.07% the S&P500.
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, January 22, the company rating was upgraded by Keefe Bruyette & Woods. The firm earned “Outperform” rating on Friday, October 16 by FIG Partners. The firm earned “Outperform” rating on Friday, May 13 by Raymond James. Raymond James downgraded the shares of PCBK in a report on Thursday, December 17 to “Mkt Perform” rating.
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 Q2 2016. Its down 0.32, from 1.35 in 2016Q1. The ratio is negative, 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.
Rice Hall James Assocs Ltd Liability Com owns 94,039 shares or 0.09% of their US portfolio. Wells Fargo & Mn holds 0% or 10,738 shares in its portfolio. Ladenburg Thalmann Fincl Services, a Florida-based fund reported 8,356 shares. Panagora Asset Mngmt last reported 242,585 shares in the company. Banc Funds Limited Liability Company has 1.53M shares for 1.41% of their US portfolio. Prudential Fincl holds 0% or 56,892 shares in its portfolio. Moreover, Eam Investors Limited Company has 0.2% invested in Pacific Continental Corporation (NASDAQ:PCBK) for 82,837 shares. Metropolitan Life Insurance Ny, a New York-based fund reported 15,584 shares. Mengis Cap Mngmt holds 26,526 shares or 0.37% of its portfolio. Royal Fincl Bank Of Canada last reported 95,060 shares in the company. Parametric Associates Llc, a Washington-based fund reported 12,597 shares. Freestone Holding Ltd Liability Company accumulated 23,000 shares or 0.04% of the stock. Becker Capital Mngmt Inc accumulated 0.2% or 308,672 shares. California State Teachers Retirement Systems accumulated 40,020 shares or 0% of the stock. Alliancebernstein Lp holds 0% of its portfolio in Pacific Continental Corporation (NASDAQ:PCBK) for 18,330 shares.
More notable recent Pacific Continental Corporation (NASDAQ:PCBK) news were published by: Prnewswire.com which released: “Pacific Continental Corporation Announces Plan to Acquire Foundation Bancorp, Inc.” on April 26, 2016, also Prnewswire.com with their article: “Pacific Continental Corporation Announces Jocelyn Lane as Puget Sound Market …” published on September 07, 2016, Prnewswire.com published: “Pacific Continental Corporation Announces Promotion of Maria Seip to Executive …” on June 23, 2016. More interesting news about Pacific Continental Corporation (NASDAQ:PCBK) were released by: Prnewswire.com and their article: “Pacific Continental Corporation Completes Acquisition of Capital Pacific …” published on March 07, 2015 as well as Prnewswire.com‘s news article titled: “Pacific Continental Corporation Announces Thomas Ellison and Duane C. Woods …” with publication date: September 08, 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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