Sponsored by Oregon Business

Stocks that went up

| Print |  Email
Archives - February 2009
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

Opening soon: 3 of the coolest new breweries in Oregon

The Latest
Thursday, March 19, 2015
brewthumbBY JACOB PALMER | DIGITAL NEWS EDITOR

There are 278 companies licensed to operate as brewery, according to the Oregon Liquor Control Commission. Here are three new beer-making hubs slated to open soon.


Read more...

5 questions for inDinero CEO Jessica Mah

The Latest
Tuesday, March 31, 2015
jessicathumbBY JACOB PALMER | DIGITAL NEWS EDITOR

inDinero, a business that manages back-office accounting for startups and smaller companies, recently announced it would relocate its headquarters from San Francisco to Portland. We talked to CEO Jessica Mah about what drew her to Portland and how she plans to disrupt the traditional CPA model.


Read more...

100 Best: The Power of the Worker

March 2015
Wednesday, February 25, 2015
BY KIM MOORE | OB RESEARCH EDITOR
AND AMY MILSHTEIN | OB CONTRIBUTOR

Technology is empowering people like never before and transforming how employees interact in the workplace. How can companies attract and keep staff engaged in this rapidly changing world?


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...

Banking Perspective

April 2015
Thursday, March 26, 2015
BY KIM MOORE

A conversation with Craig Wanichek, president and CEO of Summit Bank.


Read more...

Beam Me Up

April 2015
Thursday, March 19, 2015
BY DAN COOK | Photos by Jason E. Kaplan

An alliance of developers, academics and timber industry executives wants to position Oregon as a front runner in the glamorous new world of wooden skyscrapers.


Read more...

Umbrella Revolution

March 2015
Monday, February 23, 2015

Yeah, we know: Oregonians are way too cool for umbrellas. But today’s stylish, high-tech models will soften the resistance of the most rain hardened.


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