Analysts predict that Pacific Continental Co. (NASDAQ:PCBK) will report $0.33 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Pacific Continental’s earnings, with estimates ranging from $0.32 to $0.33. Pacific Continental posted earnings of $0.27 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 22.2%. The business is scheduled to issue its next quarterly earnings results on Wednesday, July 19th.
According to Zacks, analysts expect that Pacific Continental will report full year earnings of $1.30 per share for the current year, with EPS estimates ranging from $1.30 to $1.31. For the next financial year, analysts expect that the firm will post earnings of $1.48 per share, with EPS estimates ranging from $1.45 to $1.54. Zacks’ earnings per share calculations are an average based on a survey of research firms that follow Pacific Continental.
Pacific Continental (NASDAQ:PCBK) last posted its quarterly earnings results on Thursday, April 27th. The financial services provider reported $0.29 EPS for the quarter, missing the Zacks’ consensus estimate of $0.31 by $0.02. Pacific Continental had a net margin of 20.23% and a return on equity of 9.00%. The firm had revenue of $26.33 million for the quarter, compared to the consensus estimate of $26.87 million.
Several research analysts have commented on the stock. Zacks Investment Research lowered shares of Pacific Continental from a “buy” rating to a “hold” rating in a research note on Tuesday, May 2nd. FIG Partners lowered shares of Pacific Continental from an “outperform” rating to a “market perform” rating in a research note on Tuesday, January 31st. Finally, Keefe, Bruyette & Woods set a $28.00 price objective on shares of Pacific Continental and gave the stock a “hold” rating in a research note on Tuesday, April 4th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $24.67.
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Pacific Continental (NASDAQ:PCBK) traded down 0.21% during midday trading on Monday, reaching $24.00. 120,440 shares of the company were exchanged. The firm has a market capitalization of $543.96 million, a PE ratio of 25.26 and a beta of 0.66. The company has a 50-day moving average of $24.61 and a 200 day moving average of $23.13. Pacific Continental has a 52 week low of $14.35 and a 52 week high of $26.85.
The business also recently announced a quarterly dividend, which will be paid on Thursday, May 25th. Stockholders of record on Thursday, May 11th will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date is Tuesday, May 9th. Pacific Continental’s dividend payout ratio is currently 46.81%.
Several hedge funds have recently modified their holdings of the stock. Morgan Stanley raised its stake in shares of Pacific Continental by 574.0% in the first quarter. Morgan Stanley now owns 631,506 shares of the financial services provider’s stock worth $15,473,000 after buying an additional 537,809 shares in the last quarter. Context BH Capital Management LP raised its stake in shares of Pacific Continental 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 worth $10,413,000 after buying an additional 387,293 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in shares of Pacific Continental during the first quarter worth about $8,618,000. Vivaldi Asset Management LLC bought a new stake in shares of Pacific Continental during the first quarter worth about $7,933,000. Finally, William Blair Investment Management LLC bought a new stake in shares of Pacific Continental during the fourth quarter worth about $6,970,000. 60.93% of the stock is owned by hedge funds and other institutional investors.
About Pacific Continental
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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