Stocks that went up

| Print |  Email
Sunday, February 01, 2009

STATEWIDE —You know times are hard when you can count on one hand the public companies that gained over the past year. The overwhelming majority of the public companies with major presences in Oregon have seen their stock prices plummet, but five stalwarts  —  including, believe it or not, two banks — defied the downturn.


San Francisco-based Wells Fargo, the largest home mortgage holder in Oregon and a major employer here, slid 25% between January and July of 2008, but recovered powerfully while snapping up former rivals on the cheap, gaining 2% over the past year.

Cincinnati-based Kroger, parent company of the Oregon mega-store powerhouse Fred Meyer, capitalized on the trend to stock up on the basics in bulk and boosted its stock price 5% in the process.

Wilsonville-based FLIR Systems continued to pull in fat military contracts for its infrared cameras, pulling in more than a billion dollars in revenue for the first time in 2008. Its stock has fallen from its summer peak of over $43 per share, but even with that drop it still increased 4% over a year ago.  

Northwest Pipe, a longtime Portland fixture that recently relocated across the river to Vancouver, fared even better amid the downturn, building up a backlog of orders for water transmission systems. Its stock price soared to an all-time high of $63 in September, and even after a steep drop-off in October it still rose 25% over the past year.

The only company to beat that performance was Pacific Continental Bank, a Eugene-based bank that resisted the temptation to chase the speculators into California, Bend, and other boom-and-then-bust towns. The bank also avoided the subprime and stated-income "liar loans" that brought down other banks, most notably Seattle-based Washington Mutual, the largest bank failure in U.S. history.

"We did a very good job of sticking to our principles and not getting into markets that were risky," says Pacific Continental vice president Maecey Castle.

The strategy paid off. Pacific Continental's percentage of nonperforming assets is about one fifth of the industry average and its stock price recovered from a low of $10.42 Jan 4, 2008, to $14.90 a year later, a 44% rise. Not a bad showing over a year when the typical stock moved 35% in the opposite direction.               

BEN JACKLET



Have an opinion? E-mail This e-mail address is being protected from spambots. You need JavaScript enabled to view it

 

 

More Articles

Epitaph for a Boondoggle

April 2015
Friday, March 27, 2015
BY JOE CORTRIGHT

The CRC is a cautionary tale about how we plan for, finance and invest in transportation infrastructure.


Read more...

Picture This

May 2015
Monday, April 27, 2015
BY JACOB PALMER

As a general rule, the more people with autism can be provided with visual cues, the better they will be able to understand and manage their environment. It’s a lesson Tom Keating learned well. The 61-year-old Eugene grant writer spent 31 years taking care of his autistic brother James, and in the late 1980s developed a spreadsheet that created a series of nonsense characters that grew or shrank depending on how much money James had in his account. 


Read more...

4 highlights of the MLS labor deal

The Latest
Wednesday, March 04, 2015
timbersthumbBY JACOB PALMER | OB DIGITAL NEWS EDITOR

On Wednesday night, a couple days ahead of the 2015 season kickoff, Major League Soccer and the Players Union reached an agreement.


Read more...

Footloose

April 2015
Friday, March 27, 2015
BY LINDA BAKER

Founded 12 years ago, Keen Inc. likes to push the envelope, starting with the debut of the “Newport” closed toe sandal in 2003. Since then, the company has opened a factory on Swan Island and a sleek new headquarters in the Pearl District. The brand’s newest offering, UNEEK, is a sandal made from two woven cords and not much more.


Read more...

Bike Chic: 7 stylish options for cyclists

April 2015
Thursday, March 26, 2015

Cycling to work is all the rage. But not everyone wants to arrive at the office messy, sweaty — and unfashionable.


Read more...

Short Shrift:The threat of just-in-time scheduling

May 2015
Monday, April 27, 2015
BY AMY MILSHTEIN

Companies can benefit when they use software to meet staffing requirements and address employees' family and life commitments.


Read more...

Downtime with the executive director of Greater Portland Inc.

April 2015
Thursday, March 26, 2015

Janet LaBar, Executive director, Greater Portland Inc.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS