Stock of the Day: Could Pacific Continental Corporation Go Down After Touching 52-Week High?

Stock of the Day: Could Pacific Continental Corporation Go Down After Touching 52 Week High?

The stock of Pacific Continental Corporation (NASDAQ:PCBK) hit a new 52-week high and has $20.48 target or 5.00% above today’s $19.50 share price. The 9 months bullish chart indicates low risk for the $441.90 million company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $20.48 price target is reached, the company will be worth $22.10M 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 last traded at $19.5 per share. It is down 19.49% since April 25, 2016 and is uptrending. It has outperformed by 13.47% the S&P500.

Analysts await Pacific Continental Corporation (NASDAQ:PCBK) to report earnings on January, 18. They expect $0.27 earnings per share, down 3.57% or $0.01 from last year’s $0.28 per share. PCBK’s profit will be $6.12 million for 18.06 P/E if the $0.27 EPS becomes a reality. After $0.23 actual earnings per share reported by Pacific Continental Corporation for the previous quarter, Wall Street now forecasts 17.39% 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. FIG Partners upgraded the shares of PCBK in a report on Friday, October 16 to “Outperform” rating. The rating was downgraded by Raymond James on Thursday, December 17 to “Mkt Perform”. Raymond James upgraded it to “Outperform” rating and $18 target price in Friday, May 13 report. The stock of Pacific Continental Corporation (NASDAQ:PCBK) earned “Outperform” rating by Keefe Bruyette & Woods on Friday, January 22.

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 increased to 1.16 in Q2 2016. Its up 0.13, from 1.03 in 2016Q1. The ratio increased, 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.
Chicago Equity Prtn Limited Liability Corp has invested 0.02% of its portfolio in Pacific Continental Corporation (NASDAQ:PCBK). Millennium Management Limited Co holds 0% of its portfolio in Pacific Continental Corporation (NASDAQ:PCBK) for 44,981 shares. Strs Ohio has 1,300 shares for 0% of their US portfolio. Invesco has invested 0% of its portfolio in Pacific Continental Corporation (NASDAQ:PCBK). Tiaa Cref last reported 0% of its portfolio in the stock. Eam Ltd has invested 0.2% of its portfolio in Pacific Continental Corporation (NASDAQ:PCBK). Kennedy Mgmt Incorporated accumulated 0.12% or 379,551 shares. Moreover, Envestnet Asset Management has 0% invested in Pacific Continental Corporation (NASDAQ:PCBK) for 3,123 shares. Moreover, Bancshares Of America De has 0% invested in Pacific Continental Corporation (NASDAQ:PCBK) for 123,995 shares. Basswood Cap Management Ltd last reported 1.07M shares in the company. Parametric Port Associate Ltd Liability Com last reported 0% of its portfolio in the stock. Signia Cap Mgmt reported 20,122 shares or 1% of all its holdings. Wedge Mgmt L Ltd Partnership Nc holds 0.97% or 5.17 million shares in its portfolio. The Massachusetts-based State Street has invested 0% in Pacific Continental Corporation (NASDAQ:PCBK). Plante Moran Ltd Company holds 3,029 shares or 0.03% of its portfolio.

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 Thomas Ellison and Duane C. Woods …” published on September 08, 2016, Prnewswire.com published: “Pacific Continental Corporation Announces Jocelyn Lane as Puget Sound Market …” on September 07, 2016. More interesting news about Pacific Continental Corporation (NASDAQ:PCBK) were released by: Prnewswire.com and their article: “Foundation Bancorp, Inc. And Pacific Continental Corporation Announce Election …” published on August 19, 2016 as well as Prnewswire.com‘s news article titled: “Pacific Continental Corporation Announces Promotion of Maria Seip to Executive …” with publication date: June 23, 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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