Pacific Continental Corporation (NASDAQ:PCBK) shareholders have witnessed an increase in hedge fund sentiment of late.
In the 21st century investor’s toolkit, there are plenty of methods market participants can use to watch publicly traded companies. A duo of the most innovative are hedge fund and insider trading activity. At Insider Monkey, our studies have shown that, historically, those who follow the best picks of the elite investment managers can outperform the S&P 500 by a significant margin (see just how much).
Equally as important, optimistic insider trading activity is a second way to break down the world of equities. Just as you’d expect, there are a variety of reasons for a bullish insider to drop shares of his or her company, but only one, very simple reason why they would initiate a purchase. Plenty of empirical studies have demonstrated the valuable potential of this tactic if shareholders know where to look (learn more here).
Now, let’s take a look at the latest action surrounding Pacific Continental Corporation (NASDAQ:PCBK).
What does the smart money think about Pacific Continental Corporation (NASDAQ:PCBK)?
At year’s end, a total of 7 of the hedge funds we track held long positions in this stock, a change of 17% from the previous quarter. With hedge funds’ positions undergoing their usual ebb and flow, there exists a few noteworthy hedge fund managers who were boosting their holdings significantly.
According to our comprehensive database, Chuck Royce’s Royce & Associates had the largest position in Pacific Continental Corporation (NASDAQ:PCBK), worth close to $5.2 million, comprising less than 0.1%% of its total 13F portfolio. The second largest stake is held by Neil Chriss of Hutchin Hill Capital, with a $1.1 million position; the fund has 0.1% of its 13F portfolio invested in the stock. Remaining hedgies that hold long positions include Jim Simons’s Renaissance Technologies, Israel Englander’s Millennium Management and Eric D. Hovde’s Hovde Capital.
As one would reasonably expect, some big names were leading the bulls’ herd. Hovde Capital, managed by Eric D. Hovde, assembled the most valuable position in Pacific Continental Corporation (NASDAQ:PCBK). Hovde Capital had 0.4 million invested in the company at the end of the quarter.
What have insiders been doing with Pacific Continental Corporation (NASDAQ:PCBK)?
Insider trading activity, especially when it’s bullish, is at its handiest when the company in question has seen transactions within the past 180 days. Over the latest six-month time period, Pacific Continental Corporation (NASDAQ:PCBK) has experienced 1 unique insiders purchasing, and zero insider sales (see the details of insider trades here).
Let’s also take a look at hedge fund and insider activity in other stocks similar to Pacific Continental Corporation (NASDAQ:PCBK). These stocks are Bank of Marin Bancorp (NASDAQ:BMRC), Washington Banking Co (NASDAQ:WBCO), Sierra Bancorp (NASDAQ:BSRR), Pacific Premier Bancorp, Inc. (NASDAQ:PPBI), and Preferred Bank (NASDAQ:PFBC). This group of stocks are the members of the regional – pacific banks industry and their market caps match PCBK’s market cap.
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| Company Name | # of Hedge Funds | # of Insiders Buying | # of Insiders Selling |
| Bank of Marin Bancorp (NASDAQ:BMRC) | 1 | 4 | |
| Washington Banking Co (NASDAQ:WBCO) | 5 | 0 | 0 |
| Sierra Bancorp (NASDAQ:BSRR) | 2 | 0 | 2 |
| Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) | 1 | 1 | 0 |
| Preferred Bank (NASDAQ:PFBC) | 2 | 0 | 0 |
With the results exhibited by Insider Monkey’s tactics, everyday investors should always pay attention to hedge fund and insider trading sentiment, and Pacific Continental Corporation (NASDAQ:PCBK) applies perfectly to this mantra.
