Insider Purchase at Pacific Continental Corporation (PCBK): Two Directors Acquire Stock

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Pacific Continental Corporation (NASDAQ:PCBK), a $251 million market cap bank holding company, saw yesterday, June 24, two Board Directors acquire its stock. Eric Forrest purchased 1,319 shares of Common Stock for $13.89 per share. After having spent  $18,320.91 in stock, the insider owns 2,769 shares of the company. Another Director, Judi Johansen, bought 449 shares of Common Stock, for the same price as her colleague, Mr. Forrest. Following this transaction, Mrs. Johansen holds 10,267 shares of Pacific Continental Corporation (NASDAQ:PCBK).

In addition to these insiders, several hedge funds are betting on the bank holding company. Matthew Lindenbaum’s Basswood Capital last declared having increased its stake in the company by 16%, to 811,074, with a value of $11.16 million by the end of Q1. Chuck Royce’s Royce & Associates also holds a millionaire position in the stock: its 535,697 shares are worth more than $7.3 million. Another hedge fund shareholder worth mentioning is Jim Simons, of Renaissance Technologies, who also upped his bets in the company over the last reported quarter. After adding 27% to his holdings, his fund owns 227,429 shares of Pacific Continental Corporation (NASDAQ:PCBK).

 

Disclosure: Javier Hasse holds no position in any stocks mentioned

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