Capital Fund Management S.A. purchased a new stake in Preferred Bank (NASDAQ:PFBC) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,100 shares of the bank’s stock, valued at approximately $241,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. BNP Paribas Arbitrage SA increased its position in Preferred Bank by 80.4% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 2,415 shares of the bank’s stock valued at $146,000 after acquiring an additional 1,076 shares during the period. Stevens Capital Management LP acquired a new position in Preferred Bank in the 3rd quarter valued at approximately $237,000. First Mercantile Trust Co. acquired a new position in Preferred Bank in the 4th quarter valued at approximately $256,000. Teacher Retirement System of Texas acquired a new position in Preferred Bank in the 4th quarter valued at approximately $265,000. Finally, Voya Investment Management LLC bought a new stake in shares of Preferred Bank in the 2nd quarter valued at $269,000. Hedge funds and other institutional investors own 81.69% of the company’s stock.
A number of research firms have recently commented on PFBC. Sandler O’Neill reaffirmed a “buy” rating and issued a $73.00 price objective on shares of Preferred Bank in a research note on Tuesday, January 23rd. B. Riley reaffirmed a “buy” rating and issued a $76.00 price objective on shares of Preferred Bank in a research note on Wednesday, January 24th. BidaskClub raised shares of Preferred Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, December 6th. Zacks Investment Research raised shares of Preferred Bank from a “hold” rating to a “strong-buy” rating and set a $73.00 price objective on the stock in a research note on Saturday, January 13th. Finally, ValuEngine lowered shares of Preferred Bank from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $72.60.
Preferred Bank (NASDAQ:PFBC) last issued its earnings results on Monday, January 22nd. The bank reported $0.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.08. The business had revenue of $35.78 million for the quarter, compared to analyst estimates of $36.37 million. Preferred Bank had a net margin of 26.51% and a return on equity of 16.69%. sell-side analysts anticipate that Preferred Bank will post 4.57 earnings per share for the current year.
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About Preferred Bank
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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