Advisors Asset Management Inc. increased its position in Preferred Bank (NASDAQ:PFBC) by 5.1% during the second quarter, according to its most recent filing with the SEC. The fund owned 18,970 shares of the bank’s stock after buying an additional 929 shares during the period. Advisors Asset Management Inc. owned approximately 0.13% of Preferred Bank worth $1,014,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of PFBC. Teachers Advisors LLC raised its stake in Preferred Bank by 9.9% in the fourth quarter. Teachers Advisors LLC now owns 23,687 shares of the bank’s stock worth $1,242,000 after buying an additional 2,124 shares during the period. Bank of Montreal Can raised its stake in Preferred Bank by 122.8% in the first quarter. Bank of Montreal Can now owns 83,131 shares of the bank’s stock valued at $4,461,000 after buying an additional 45,827 shares during the last quarter. Hennessy Advisors Inc. purchased a new stake in Preferred Bank during the first quarter valued at approximately $2,146,000. Eqis Capital Management Inc. raised its stake in Preferred Bank by 3.8% in the first quarter. Eqis Capital Management Inc. now owns 4,101 shares of the bank’s stock valued at $220,000 after buying an additional 149 shares during the last quarter. Finally, Chicago Equity Partners LLC raised its stake in Preferred Bank by 12.3% in the first quarter. Chicago Equity Partners LLC now owns 73,166 shares of the bank’s stock valued at $3,926,000 after buying an additional 8,005 shares during the last quarter. Hedge funds and other institutional investors own 79.01% of the company’s stock.

Preferred Bank (NASDAQ:PFBC) opened at 54.09 on Wednesday. Preferred Bank has a 12-month low of $34.31 and a 12-month high of $58.98. The stock has a market cap of $777.22 million, a price-to-earnings ratio of 18.57 and a beta of 0.97. The stock’s 50 day moving average price is $55.76 and its 200 day moving average price is $53.60.

Preferred Bank (NASDAQ:PFBC) last issued its quarterly earnings results on Tuesday, July 18th. The bank reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.05. Preferred Bank had a return on equity of 14.18% and a net margin of 28.91%. The business had revenue of $32.55 million for the quarter, compared to the consensus estimate of $31.78 million. Analysts forecast that Preferred Bank will post $3.21 EPS for the current fiscal year.

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Several analysts have commented on the stock. FBR & Co reissued a “buy” rating on shares of Preferred Bank in a research report on Wednesday, July 19th. BidaskClub upgraded shares of Preferred Bank from a “hold” rating to a “buy” rating in a report on Tuesday, July 11th. Stephens upgraded shares of Preferred Bank from an “equal weight” rating to an “overweight” rating in a report on Monday, July 10th. ValuEngine upgraded shares of Preferred Bank from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Finally, Zacks Investment Research cut shares of Preferred Bank from a “buy” rating to a “hold” rating in a research note on Friday, June 23rd. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $60.50.

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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