Preferred Bank (PFBC) Position Reduced by Maltese Capital Management LLC

Maltese Capital Management LLC lessened its position in Preferred Bank (NASDAQ:PFBC) by 12.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 181,500 shares of the bank’s stock after selling 24,900 shares during the quarter. Maltese Capital Management LLC owned about 1.38% of Preferred Bank worth $10,954,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in PFBC. Alps Advisors Inc. increased its holdings in shares of Preferred Bank by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 8,853 shares of the bank’s stock worth $473,000 after purchasing an additional 23 shares during the period. Wells Fargo & Company MN increased its holdings in shares of Preferred Bank by 1.1% during the 2nd quarter. Wells Fargo & Company MN now owns 19,948 shares of the bank’s stock worth $1,067,000 after purchasing an additional 226 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in shares of Preferred Bank by 0.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 77,103 shares of the bank’s stock worth $4,123,000 after purchasing an additional 285 shares during the period. Marshall Wace North America L.P. increased its holdings in shares of Preferred Bank by 2.3% during the 2nd quarter. Marshall Wace North America L.P. now owns 20,177 shares of the bank’s stock worth $1,069,000 after purchasing an additional 454 shares during the period. Finally, Aperio Group LLC increased its holdings in shares of Preferred Bank by 9.0% during the 2nd quarter. Aperio Group LLC now owns 5,487 shares of the bank’s stock worth $293,000 after purchasing an additional 455 shares during the period. Hedge funds and other institutional investors own 80.11% of the company’s stock.

Shares of Preferred Bank (NASDAQ PFBC) opened at $63.50 on Thursday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.35. Preferred Bank has a 12-month low of $46.75 and a 12-month high of $66.58. The firm has a market cap of $849.31, a PE ratio of 20.38, a PEG ratio of 1.93 and a beta of 0.92.

Preferred Bank (NASDAQ:PFBC) last issued its earnings results on Tuesday, October 24th. The bank reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.09. Preferred Bank had a net margin of 29.33% and a return on equity of 15.22%. The business had revenue of $36.67 million for the quarter, compared to analyst estimates of $34.68 million. analysts anticipate that Preferred Bank will post 3.34 earnings per share for the current year.

Several research analysts have recently issued reports on PFBC shares. Zacks Investment Research upgraded shares of Preferred Bank from a “hold” rating to a “buy” rating and set a $73.00 price objective on the stock in a report on Saturday, October 28th. FBR & Co restated a “buy” rating and set a $70.00 price objective (up previously from $65.00) on shares of Preferred Bank in a report on Wednesday, October 25th. BidaskClub upgraded shares of Preferred Bank from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, ValuEngine downgraded shares of Preferred Bank from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Preferred Bank currently has a consensus rating of “Buy” and a consensus target price of $68.50.

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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.

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

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