Advisors Asset Management Inc. lessened its holdings in shares of Preferred Bank (NASDAQ:PFBC) by 13.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,474 shares of the bank’s stock after selling 2,496 shares during the period. Advisors Asset Management Inc. owned about 0.12% of Preferred Bank worth $994,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in PFBC. Phocas Financial Corp. purchased a new position in Preferred Bank during the 2nd quarter valued at about $8,623,000. State Street Corp increased its holdings in Preferred Bank by 61.7% during the 2nd quarter. State Street Corp now owns 388,696 shares of the bank’s stock valued at $20,782,000 after purchasing an additional 148,363 shares during the period. Ameriprise Financial Inc. increased its holdings in Preferred Bank by 209.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 140,126 shares of the bank’s stock valued at $7,491,000 after purchasing an additional 94,905 shares during the period. Vanguard Group Inc. increased its holdings in Preferred Bank by 10.2% during the 1st quarter. Vanguard Group Inc. now owns 522,054 shares of the bank’s stock valued at $28,013,000 after purchasing an additional 48,266 shares during the period. Finally, New York State Common Retirement Fund increased its holdings in Preferred Bank by 46.7% during the 2nd quarter. New York State Common Retirement Fund now owns 114,693 shares of the bank’s stock valued at $6,133,000 after purchasing an additional 36,497 shares during the period. Institutional investors own 80.30% of the company’s stock.

Preferred Bank (PFBC) traded up $0.73 during mid-day trading on Friday, hitting $63.33. The company’s stock had a trading volume of 117,174 shares, compared to its average volume of 58,621. Preferred Bank has a 1 year low of $44.35 and a 1 year high of $66.58. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market cap of $825.57, a P/E ratio of 19.81, a price-to-earnings-growth ratio of 1.88 and a beta of 0.92.

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

A number of research analysts recently issued reports on the company. Zacks Investment Research upgraded Preferred Bank from a “hold” rating to a “buy” rating and set a $73.00 price target on the stock in a report on Saturday, October 28th. ValuEngine downgraded Preferred Bank from a “buy” rating to a “hold” rating in a report on Friday. Finally, FBR & Co restated a “buy” rating and set a $70.00 price target (up previously from $65.00) on shares of Preferred Bank in a report on Wednesday, October 25th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $68.50.

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Preferred Bank 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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