Columbia Partners L L C Investment Management boosted its stake in Preferred Bank (NASDAQ:PFBC) by 8.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,117 shares of the bank’s stock after purchasing an additional 1,968 shares during the quarter. Columbia Partners L L C Investment Management’s holdings in Preferred Bank were worth $1,417,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. BNP Paribas Arbitrage SA raised its stake in Preferred Bank by 80.4% in the third quarter. BNP Paribas Arbitrage SA now owns 2,415 shares of the bank’s stock valued at $146,000 after purchasing an additional 1,076 shares in the last quarter. Stevens Capital Management LP acquired a new position in Preferred Bank in the third quarter valued at about $237,000. Capital Fund Management S.A. acquired a new position in Preferred Bank in the fourth quarter valued at about $241,000. First Mercantile Trust Co. acquired a new position in Preferred Bank in the fourth quarter valued at about $256,000. Finally, Teacher Retirement System of Texas acquired a new position in Preferred Bank in the fourth quarter valued at about $265,000. 81.69% of the stock is owned by institutional investors and hedge funds.
A number of research analysts recently commented on PFBC shares. Zacks Investment Research raised Preferred Bank from a “hold” rating to a “buy” rating and set a $73.00 price target for the company in a research note on Saturday, October 28th. ValuEngine downgraded Preferred Bank from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. BidaskClub raised Preferred Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, December 6th. UBS Group upgraded Preferred Bank from an “outperform” rating to a “strong-buy” rating in a research report on Tuesday, January 9th. Finally, Raymond James Financial upgraded Preferred Bank from an “outperform” rating to a “strong-buy” rating and set a $71.00 target price on the stock in a research report on Tuesday, January 9th. They noted that the move was a valuation call. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $72.60.
Preferred Bank (PFBC) opened at $64.05 on Friday. Preferred Bank has a 12-month low of $46.88 and a 12-month high of $67.65. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market capitalization of $981.77, a PE ratio of 18.95, a price-to-earnings-growth ratio of 1.38 and a beta of 0.96.
Preferred Bank (NASDAQ:PFBC) last released its earnings results on Monday, January 22nd. The bank reported $0.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.08. Preferred Bank had a return on equity of 16.69% and a net margin of 26.51%. The firm had revenue of $35.78 million for the quarter, compared to analysts’ expectations of $36.37 million. equities research analysts forecast that Preferred Bank will post 4.57 EPS for the current year.
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Preferred Bank Company Profile
Preferred Bank is a commercial bank. The Bank provides deposit services, as well as real estate finance, commercial loans and trade finance to small and mid-sized businesses and their owners, entrepreneurs, real estate developers and investors, professionals and high net worth individuals. The Bank offers various services, such as personal banking, business banking and treasury management.
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