Schwab Charles Investment Management Inc. Acquires 2,565 Shares of Preferred Bank (PFBC)
Schwab Charles Investment Management Inc. raised its stake in shares of Preferred Bank (NASDAQ:PFBC) by 3.5% during the first quarter, Holdings Channel reports. The institutional investor owned 76,818 shares of the bank’s stock after buying an additional 2,565 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Preferred Bank were worth $4,123,000 as of its most recent filing with the SEC.
Several other large investors have also bought and sold shares of PFBC. US Bancorp DE raised its stake in Preferred Bank by 14.5% in the first quarter. US Bancorp DE now owns 3,402 shares of the bank’s stock valued at $183,000 after buying an additional 431 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Preferred Bank by 86.9% in the first quarter. SG Americas Securities LLC now owns 3,726 shares of the bank’s stock worth $200,000 after buying an additional 1,732 shares during the last quarter. UBS Asset Management Americas Inc. purchased a new position in shares of Preferred Bank during the first quarter worth about $207,000. Affinity Investment Advisors LLC purchased a new position in shares of Preferred Bank during the first quarter worth about $215,000. Finally, Eqis Capital Management Inc. increased its position in shares of Preferred Bank by 3.8% in the first quarter. Eqis Capital Management Inc. now owns 4,101 shares of the bank’s stock worth $220,000 after buying an additional 149 shares during the last quarter. Institutional investors and hedge funds own 75.30% of the company’s stock.
Shares of Preferred Bank (PFBC) traded up 0.53% on Tuesday, hitting $55.32. 2,583 shares of the stock were exchanged. The company’s 50 day moving average is $55.48 and its 200-day moving average is $53.68. The stock has a market cap of $793.73 million, a PE ratio of 19.00 and a beta of 0.97. Preferred Bank has a 52-week low of $33.65 and a 52-week high of $58.98.
Preferred Bank (NASDAQ:PFBC) last issued its earnings results on Tuesday, July 18th. The bank reported $0.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.05. The firm had revenue of $32.55 million for the quarter, compared to analysts’ expectations of $31.78 million. Preferred Bank had a net margin of 28.91% and a return on equity of 14.18%. Analysts predict that Preferred Bank will post $3.21 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 21st. Investors of record on Friday, July 7th were issued a $0.20 dividend. This is a boost from Preferred Bank’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Wednesday, July 5th. This represents a $0.80 annualized dividend and a yield of 1.45%. Preferred Bank’s dividend payout ratio (DPR) is 27.49%.
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A number of brokerages have recently issued reports on PFBC. Stephens raised shares of Preferred Bank from an “equal weight” rating to an “overweight” rating in a research report on Monday, July 10th. BidaskClub downgraded shares of Preferred Bank from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Zacks Investment Research downgraded shares of Preferred Bank from a “buy” rating to a “hold” rating in a research report on Friday, June 23rd. FBR & Co reaffirmed a “buy” rating on shares of Preferred Bank in a research report on Wednesday, July 19th. Finally, ValuEngine raised shares of Preferred Bank from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $45.33.
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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