Preferred Bank (PFBC) Position Maintained by Spark Investment Management LLC

Spark Investment Management LLC held its stake in Preferred Bank (NASDAQ:PFBC) during the second quarter, Holdings Channel reports. The firm owned 21,000 shares of the bank’s stock at the end of the second quarter. Spark Investment Management LLC’s holdings in Preferred Bank were worth $1,122,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in PFBC. Nuveen Asset Management LLC raised its position in Preferred Bank by 52.5% in the first quarter. Nuveen Asset Management LLC now owns 530,245 shares of the bank’s stock valued at $28,453,000 after buying an additional 182,564 shares during the period. Rothschild Asset Management Inc. raised its position in Preferred Bank by 243.5% in the first quarter. Rothschild Asset Management Inc. now owns 111,121 shares of the bank’s stock valued at $5,963,000 after buying an additional 78,772 shares during the period. Wellington Management Group LLP raised its position in Preferred Bank by 38.5% in the first quarter. Wellington Management Group LLP now owns 195,104 shares of the bank’s stock valued at $10,469,000 after buying an additional 54,200 shares during the period. O Shaughnessy Asset Management LLC raised its position in Preferred Bank by 314.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 66,940 shares of the bank’s stock valued at $3,592,000 after buying an additional 50,806 shares during the period. Finally, Vanguard Group Inc. raised its position in Preferred Bank by 10.2% in the first quarter. Vanguard Group Inc. now owns 522,054 shares of the bank’s stock valued at $28,013,000 after buying an additional 48,266 shares during the period. Institutional investors and hedge funds own 75.19% of the company’s stock.

Preferred Bank (NASDAQ:PFBC) opened at 55.54 on Thursday. The company has a 50-day moving average of $55.12 and a 200 day moving average of $53.73. The firm has a market cap of $796.89 million, a price-to-earnings ratio of 19.07 and a beta of 0.97. Preferred Bank has a 52-week low of $32.76 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 EPS for the quarter, beating the consensus estimate of $0.75 by $0.05. The company had revenue of $32.55 million during 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%. On average, equities research analysts anticipate that Preferred Bank will post $3.21 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, July 21st. Stockholders of record on Friday, July 7th were given a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, July 5th. This is a boost from Preferred Bank’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a dividend yield of 1.44%. Preferred Bank’s payout ratio is presently 27.49%.

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Several research firms recently issued reports on PFBC. BidaskClub lowered shares of Preferred Bank from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Stephens raised shares of Preferred Bank from an “equal weight” rating to an “overweight” rating in a research report on Monday, July 10th. FBR & Co reissued a “buy” rating on shares of Preferred Bank in a research report on Wednesday, July 19th. Zacks Investment Research raised shares of Preferred Bank from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a research report on Saturday, June 24th. Finally, ValuEngine raised shares of Preferred Bank from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus 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.

Want to see what other hedge funds are holding PFBC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Preferred Bank (NASDAQ:PFBC).

Institutional Ownership by Quarter for Preferred Bank (NASDAQ:PFBC)

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