Sandler O’Neill Initiates Coverage on Paragon Commercial Corp (PBNC)

Investment analysts at Sandler O’Neill began coverage on shares of Paragon Commercial Corp (NASDAQ:PBNC) in a note issued to investors on Wednesday, The Fly reports. The firm set a “buy” rating on the stock.

PBNC has been the subject of several other research reports. Zacks Investment Research upgraded Paragon Commercial Corp from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research note on Tuesday, September 13th. Raymond James Financial Inc. started coverage on Paragon Commercial Corp in a report on Monday, July 11th. They set a “strong-buy” rating and a $41.00 price objective on the stock.

Shares of Paragon Commercial Corp (NASDAQ:PBNC) opened at 38.67 on Wednesday. The company has a market capitalization of $210.79 million and a PE ratio of 14.12. Paragon Commercial Corp has a 12-month low of $33.65 and a 12-month high of $39.99. The stock’s 50 day moving average price is $37.13 and its 200 day moving average price is $36.33.

In related news, Director Thomas B. Oxholm acquired 1,500 shares of the company’s stock in a transaction that occurred on Friday, July 22nd. The shares were acquired at an average price of $36.29 per share, with a total value of $54,435.00. Following the acquisition, the director now owns 23,550 shares of the company’s stock, valued at approximately $854,629.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

About Paragon Commercial Corp

Paragon Commercial Corporation is the holding company for Paragon Bank (the Bank), serving small and middle-market companies, nonprofits, trade associations, property owners associations, law firms, title companies, and private banking clients in the Raleigh and Charlotte metropolitan markets of North Carolina.

5 Day Chart for NASDAQ:PBNC

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