Paragon Commercial Corp (NASDAQ:PBNC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.

According to Zacks, “Paragon Commercial Corporation is the parent company of Paragon Bank, which provides a private banking services to businesses, professionals, executives, entrepreneurs and other individuals. The company services consist of extensive courier service, online and mobile technologies, free worldwide ATM access. It operates primarily in Raleigh, Cary and Charlotte, NC. Paragon Commercial Corporation is headquartered in Raleigh, North Carolina. “

Separately, Raymond James Financial Inc. initiated coverage on shares of Paragon Commercial Corp in a research report on Monday, July 11th. They issued a “strong-buy” rating and a $41.00 price objective on the stock.

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Paragon Commercial Corp (NASDAQ:PBNC) opened at 37.46 on Wednesday. The stock has a market capitalization of $204.19 million and a price-to-earnings ratio of 13.68. Paragon Commercial Corp has a one year low of $33.65 and a one year high of $39.28. The company has a 50-day moving average of $36.80 and a 200-day moving average of $36.15.

In related news, Director Thomas B. Oxholm bought 1,500 shares of Paragon Commercial Corp stock in a transaction dated Friday, July 22nd. The shares were acquired at an average cost of $36.29 per share, with a total value of $54,435.00. Following the completion of the transaction, the director now owns 23,550 shares in the company, valued at approximately $854,629.50. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

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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