Preferred Bank (NASDAQ:PFBC) Share Price Crosses Above Two Hundred Day Moving Average of $73.67

Preferred Bank (NASDAQ:PFBC) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $73.67 and traded as high as $76.05. Preferred Bank shares last traded at $75.08, with a volume of 52,696 shares trading hands.

Preferred Bank Trading Up 0.1 %

The stock has a fifty day simple moving average of $75.86 and a 200 day simple moving average of $73.67. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market cap of $1.08 billion, a P/E ratio of 7.25 and a beta of 0.98.

Preferred Bank (NASDAQ:PFBC) last released its quarterly earnings data on Tuesday, April 23rd. The bank reported $2.44 EPS for the quarter, beating the consensus estimate of $2.40 by $0.04. Preferred Bank had a return on equity of 21.28% and a net margin of 28.70%. The company had revenue of $71.57 million for the quarter, compared to analysts’ expectations of $68.60 million. On average, research analysts expect that Preferred Bank will post 9.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its holdings in shares of Preferred Bank by 5.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 107,536 shares of the bank’s stock worth $6,694,000 after acquiring an additional 5,305 shares during the period. ClariVest Asset Management LLC grew its stake in shares of Preferred Bank by 26.3% during the 3rd quarter. ClariVest Asset Management LLC now owns 17,380 shares of the bank’s stock valued at $1,082,000 after purchasing an additional 3,615 shares during the period. Brandywine Global Investment Management LLC increased its position in shares of Preferred Bank by 117.8% during the 3rd quarter. Brandywine Global Investment Management LLC now owns 45,205 shares of the bank’s stock valued at $2,814,000 after purchasing an additional 24,445 shares during the last quarter. Algert Global LLC bought a new position in shares of Preferred Bank in the 3rd quarter worth approximately $1,081,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Preferred Bank in the third quarter worth approximately $930,000. 72.77% of the stock is owned by hedge funds and other institutional investors.

About Preferred Bank

Preferred Bank provides various commercial banking products and services to small and mid-sized businesses and their owners, entrepreneurs, real estate developers and investors, professionals, and high net worth individuals in the United States. The company accepts checking, savings, and money market deposit accounts; fixed-rate and fixed maturity retail, and non-retail certificates of deposit; and individual retirement accounts.