Mengis Capital Management Inc. Cuts Stake in Pacific Continental Corporation (Ore) (PCBK)

Mengis Capital Management Inc. lessened its stake in shares of Pacific Continental Corporation (Ore) (NASDAQ:PCBK) by 15.9% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 39,082 shares of the financial services provider’s stock after selling 7,400 shares during the quarter. Mengis Capital Management Inc. owned about 171,638.12% of Pacific Continental Corporation (Ore) worth $1,053,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of PCBK. Exane Asset Management bought a new position in Pacific Continental Corporation (Ore) during the second quarter worth about $179,000. Voya Investment Management LLC bought a new position in Pacific Continental Corporation (Ore) during the second quarter worth about $230,000. Paloma Partners Management Co bought a new position in Pacific Continental Corporation (Ore) during the first quarter worth about $233,000. Wellington Management Group LLP bought a new position in Pacific Continental Corporation (Ore) during the first quarter worth about $274,000. Finally, Parametric Portfolio Associates LLC increased its position in Pacific Continental Corporation (Ore) by 13.6% during the second quarter. Parametric Portfolio Associates LLC now owns 11,244 shares of the financial services provider’s stock worth $287,000 after acquiring an additional 1,348 shares during the period. Institutional investors own 67.49% of the company’s stock.

A number of research firms recently commented on PCBK. ValuEngine raised shares of Pacific Continental Corporation (Ore) from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. BidaskClub lowered shares of Pacific Continental Corporation (Ore) from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 10th. Finally, Zacks Investment Research raised shares of Pacific Continental Corporation (Ore) from a “sell” rating to a “hold” rating in a research report on Friday, September 15th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $28.00.

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Pacific Continental Corporation (NASDAQ:PCBK) traded up $0.35 during trading hours on Tuesday, reaching $28.00. 147,100 shares of the company were exchanged, compared to its average volume of 167,408. Pacific Continental Corporation has a 1-year low of $16.00 and a 1-year high of $28.85. The company has a market capitalization of $637.63, a price-to-earnings ratio of 24.78, a price-to-earnings-growth ratio of 2.17 and a beta of 0.80. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.63.

The company also recently announced a quarterly dividend, which was paid on Monday, October 30th. Shareholders of record on Monday, October 23rd were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend was Friday, October 20th. Pacific Continental Corporation (Ore)’s dividend payout ratio is currently 38.94%.

Pacific Continental Corporation (Ore) 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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Institutional Ownership by Quarter for Pacific Continental Corporation (Ore) (NASDAQ:PCBK)

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