Barclays PLC Acquires 11,379 Shares of Preferred Bank (NASDAQ:PFBC)

Barclays PLC increased its stake in Preferred Bank (NASDAQ:PFBC) by 70.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 27,430 shares of the bank’s stock after purchasing an additional 11,379 shares during the quarter. Barclays PLC’s holdings in Preferred Bank were worth $2,201,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of PFBC. LSV Asset Management grew its holdings in Preferred Bank by 121.0% in the second quarter. LSV Asset Management now owns 171,330 shares of the bank’s stock worth $12,934,000 after purchasing an additional 93,815 shares during the period. AQR Capital Management LLC grew its stake in shares of Preferred Bank by 24.7% in the 2nd quarter. AQR Capital Management LLC now owns 77,745 shares of the bank’s stock valued at $5,869,000 after buying an additional 15,391 shares during the period. De Lisle Partners LLP increased its position in Preferred Bank by 51.8% in the 3rd quarter. De Lisle Partners LLP now owns 41,034 shares of the bank’s stock valued at $3,290,000 after buying an additional 14,000 shares in the last quarter. GSA Capital Partners LLP raised its stake in Preferred Bank by 62.5% during the 3rd quarter. GSA Capital Partners LLP now owns 31,726 shares of the bank’s stock worth $2,546,000 after buying an additional 12,197 shares during the period. Finally, Inspire Investing LLC bought a new position in Preferred Bank in the second quarter worth approximately $791,000. Institutional investors and hedge funds own 72.77% of the company’s stock.

Wall Street Analyst Weigh In

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

Preferred Bank Stock Up 0.3 %

Preferred Bank stock opened at $86.74 on Thursday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.20. The firm’s fifty day moving average price is $90.31 and its two-hundred day moving average price is $82.95. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 8.69 and a beta of 0.96. Preferred Bank has a 1-year low of $66.88 and a 1-year high of $99.78.

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

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.