Fmr LLC Buys 271 Shares of Preferred Bank (NASDAQ:PFBC)

Fmr LLC raised its position in shares of Preferred Bank (NASDAQ:PFBC) by 4.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 6,674 shares of the bank’s stock after acquiring an additional 271 shares during the quarter. Fmr LLC’s holdings in Preferred Bank were worth $536,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in PFBC. Quantbot Technologies LP increased its position in shares of Preferred Bank by 169.6% during the third quarter. Quantbot Technologies LP now owns 8,102 shares of the bank’s stock valued at $650,000 after buying an additional 5,097 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Preferred Bank by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 415,722 shares of the bank’s stock valued at $33,362,000 after acquiring an additional 7,086 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in Preferred Bank by 194.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,906 shares of the bank’s stock worth $153,000 after acquiring an additional 1,258 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Preferred Bank by 98.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 17,466 shares of the bank’s stock worth $1,402,000 after purchasing an additional 8,654 shares in the last quarter. Finally, Segall Bryant & Hamill LLC boosted its holdings in Preferred Bank by 0.7% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 60,866 shares of the bank’s stock valued at $4,884,000 after purchasing an additional 427 shares during the period. 72.77% of the stock is owned by hedge funds and other institutional investors.

Preferred Bank Stock Performance

Shares of NASDAQ PFBC opened at $86.12 on Thursday. The stock’s 50-day moving average is $89.98 and its 200 day moving average is $82.53. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of 8.63 and a beta of 0.96. Preferred Bank has a 1-year low of $66.88 and a 1-year high of $99.78. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.20.

Preferred Bank (NASDAQ:PFBC) last announced its quarterly earnings results on Monday, October 21st. The bank reported $2.46 EPS for the quarter, topping analysts’ consensus estimates of $2.39 by $0.07. Preferred Bank had a return on equity of 19.01% and a net margin of 26.20%. The business had revenue of $132.88 million for the quarter, compared to analysts’ expectations of $68.80 million. During the same period in the previous year, the firm earned $2.71 EPS. On average, sell-side analysts anticipate that Preferred Bank will post 9.75 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Stephens downgraded Preferred Bank from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 9th.

Preferred Bank Profile

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. 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.