Pacific Continental Corporation (Ore) (PCBK) Upgraded by Zacks Investment Research to Hold

Zacks Investment Research upgraded shares of Pacific Continental Corporation (Ore) (NASDAQ:PCBK) from a sell rating to a hold rating in a research report report published on Friday morning.

According to Zacks, “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. “

A number of other research firms also recently commented on PCBK. BidaskClub downgraded shares of Pacific Continental Corporation (Ore) from a hold rating to a sell rating in a research note on Tuesday, August 1st. ValuEngine upgraded shares of Pacific Continental Corporation (Ore) from a hold rating to a buy rating in a research note on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $27.00.

Pacific Continental Corporation (NASDAQ:PCBK) traded up 0.21% during trading on Friday, reaching $24.30. The company’s stock had a trading volume of 308,754 shares. The company’s 50 day moving average price is $24.08 and its 200 day moving average price is $24.62. The company has a market cap of $553.36 million, a P/E ratio of 21.39 and a beta of 0.77. Pacific Continental Corporation has a 52 week low of $16.00 and a 52 week high of $26.85.

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A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Pacific Continental Corporation (Ore) by 11.4% in the 2nd quarter. Vanguard Group Inc. now owns 958,296 shares of the financial services provider’s stock valued at $24,485,000 after purchasing an additional 98,170 shares during the last quarter. CNH Partners LLC lifted its stake in Pacific Continental Corporation (Ore) by 9.7% in the 2nd quarter. CNH Partners LLC now owns 942,191 shares of the financial services provider’s stock valued at $24,073,000 after purchasing an additional 83,562 shares during the last quarter. Chicago Capital Management LLC lifted its stake in Pacific Continental Corporation (Ore) by 285.0% in the 2nd quarter. Chicago Capital Management LLC now owns 844,803 shares of the financial services provider’s stock valued at $21,585,000 after purchasing an additional 625,393 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Pacific Continental Corporation (Ore) by 1.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 785,119 shares of the financial services provider’s stock valued at $19,235,000 after purchasing an additional 7,870 shares during the last quarter. Finally, Morgan Stanley lifted its stake in Pacific Continental Corporation (Ore) by 574.0% in the 1st quarter. Morgan Stanley now owns 631,506 shares of the financial services provider’s stock valued at $15,473,000 after purchasing an additional 537,809 shares during the last quarter. Institutional investors and hedge funds own 67.37% of the company’s stock.

About Pacific Continental Corporation (Ore)

Pacific Continental Corporation 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. The Bank operates in three primary markets: Eugene, Oregon, Portland; Oregon/Southwest Washington, and Seattle, Washington.

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