The Pacific Continental Corporation (Ore) (PCBK) Stake Cut by Spark Investment Management LLC

The Pacific Continental Corporation (Ore) (PCBK) Stake Cut by Spark Investment Management LLC

Spark Investment Management LLC decreased its stake in Pacific Continental Corporation (Ore) (NASDAQ:PCBK) by 22.4% during the third quarter, Holdings Channel reports. The institutional investor owned 22,800 shares of the financial services provider’s stock after selling 6,600 shares during the period. Spark Investment Management LLC owned 0.10% of Pacific Continental Corporation (Ore) worth $383,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in Pacific Continental Corporation (Ore) during the third quarter valued at $145,000. BlackRock Inc. boosted its stake in Pacific Continental Corporation (Ore) by 379.0% in the second quarter. BlackRock Inc. now owns 10,178 shares of the financial services provider’s stock valued at $160,000 after buying an additional 8,053 shares in the last quarter. BlackRock Advisors LLC boosted its stake in Pacific Continental Corporation (Ore) by 9.9% in the second quarter. BlackRock Advisors LLC now owns 10,623 shares of the financial services provider’s stock valued at $167,000 after buying an additional 958 shares in the last quarter. TFS Capital LLC purchased a new stake in Pacific Continental Corporation (Ore) during the second quarter valued at $174,000. Finally, Parametric Portfolio Associates LLC boosted its stake in Pacific Continental Corporation (Ore) by 1.4% in the second quarter. Parametric Portfolio Associates LLC now owns 12,597 shares of the financial services provider’s stock valued at $198,000 after buying an additional 177 shares in the last quarter. 61.67% of the stock is owned by institutional investors and hedge funds.

Pacific Continental Corporation (NASDAQ:PCBK) traded up 1.17% on Wednesday, hitting $25.85. The stock had a trading volume of 173,461 shares. The company has a 50-day moving average price of $21.88 and a 200-day moving average price of $17.86. The stock has a market capitalization of $584.29 million, a price-to-earnings ratio of 27.86 and a beta of 0.62. Pacific Continental Corporation has a 1-year low of $14.08 and a 1-year high of $26.85.

Pacific Continental Corporation (Ore) (NASDAQ:PCBK) last announced its quarterly earnings data on Wednesday, October 26th. The financial services provider reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.28 by $0.05. Pacific Continental Corporation (Ore) had a return on equity of 8.85% and a net margin of 20.43%. Equities analysts predict that Pacific Continental Corporation will post $0.93 earnings per share for the current year.

Several brokerages have commented on PCBK. DA Davidson downgraded Pacific Continental Corporation (Ore) from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 11th. Zacks Investment Research raised Pacific Continental Corporation (Ore) from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Wednesday, January 4th. Raymond James Financial, Inc. began coverage on Pacific Continental Corporation (Ore) in a research note on Thursday, January 12th. They set an “outperform” rating for the company. Finally, Keefe, Bruyette & Woods downgraded Pacific Continental Corporation (Ore) from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from $22.00 to $28.00 in a research note on Wednesday, January 11th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Pacific Continental Corporation (Ore) presently has an average rating of “Hold” and an average target price of $22.50.

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 (FDIC). The Bank operates in over three primary markets, including Eugene, Oregon, Portland; Oregon/Southwest Washington, and Seattle, Washington.

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