Alliancebernstein L.P. reduced its stake in shares of Pacific Continental Corporation (Ore) (NASDAQ:PCBK) by 3.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,230 shares of the financial services provider’s stock after selling 700 shares during the period. Alliancebernstein L.P.’s holdings in Pacific Continental Corporation (Ore) were worth $447,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Context BH Capital Management LP raised its stake in shares of Pacific Continental Corporation (Ore) by 1,026.7% in the first quarter. Context BH Capital Management LP now owns 425,015 shares of the financial services provider’s stock valued at $10,413,000 after buying an additional 387,293 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in shares of Pacific Continental Corporation (Ore) during the first quarter valued at about $8,618,000. OMERS ADMINISTRATION Corp bought a new stake in shares of Pacific Continental Corporation (Ore) during the first quarter valued at about $3,842,000. JPMorgan Chase & Co. raised its stake in shares of Pacific Continental Corporation (Ore) by 76.0% in the first quarter. JPMorgan Chase & Co. now owns 341,260 shares of the financial services provider’s stock valued at $8,360,000 after buying an additional 147,339 shares during the period. Finally, Gabelli Funds LLC bought a new stake in shares of Pacific Continental Corporation (Ore) during the first quarter valued at about $2,974,000. Hedge funds and other institutional investors own 72.17% of the company’s stock.
Shares of Pacific Continental Corporation (NASDAQ PCBK) opened at 24.55 on Thursday. The firm’s 50-day moving average is $25.21 and its 200-day moving average is $24.90. The stock has a market capitalization of $556.47 million, a price-to-earnings ratio of 25.39 and a beta of 0.74. Pacific Continental Corporation has a 52 week low of $15.20 and a 52 week high of $26.85.
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 7th. Stockholders of record on Friday, July 28th were issued a $0.11 dividend. The ex-dividend date of this dividend was Wednesday, July 26th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.79%. Pacific Continental Corporation (Ore)’s dividend payout ratio (DPR) is 46.32%.
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Several analysts recently issued reports on PCBK shares. Zacks Investment Research upgraded shares of Pacific Continental Corporation (Ore) from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a report on Wednesday, April 12th. BidaskClub lowered shares of Pacific Continental Corporation (Ore) from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $24.67.
Pacific Continental Corporation (Ore) Company Profile
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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