Paragon Commercial Corp (NASDAQ:PBNC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors 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. began coverage on shares of Paragon Commercial Corp in a research note on Monday, July 11th. They issued a “strong-buy” rating and a $41.00 target price on the stock.

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Paragon Commercial Corp (NASDAQ:PBNC) traded up 2.78% during midday trading on Wednesday, reaching $38.50. 6,719 shares of the company’s stock traded hands. Paragon Commercial Corp has a 52-week low of $33.65 and a 52-week high of $39.28. The firm has a market cap of $209.86 million and a PE ratio of 14.06. The firm’s 50-day moving average is $36.86 and its 200 day moving average is $36.19.

In related news, Director Thomas B. Oxholm purchased 1,500 shares of Paragon Commercial Corp stock in a transaction that occurred on Friday, July 22nd. The shares were bought at an average price of $36.29 per share, with a total value of $54,435.00. Following the purchase, the director now directly owns 23,550 shares of the company’s stock, valued at approximately $854,629.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Paragon Commercial Corp Company Profile

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.

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