Shares of Preferred Bank (NASDAQ:PFBC) saw an uptick in trading volume on Thursday . 682,189 shares were traded during mid-day trading, an increase of 895% from the previous session’s volume of 68,579 shares.The stock last traded at $32.60 and had previously closed at $32.30.

A number of brokerages recently issued reports on PFBC. Zacks Investment Research upgraded shares of Preferred Bank from a “sell” rating to a “hold” rating and set a $35.00 price objective for the company in a report on Tuesday, April 26th. FBR & Co reiterated an “outperform” rating and issued a $39.00 price objective (up from $37.00) on shares of Preferred Bank in a report on Thursday, July 21st.

The stock’s 50 day moving average price is $30.94 and its 200-day moving average price is $30.66. The stock has a market capitalization of $452.51 million and a P/E ratio of 14.39.

Preferred Bank (NASDAQ:PFBC) last posted its earnings results on Wednesday, July 20th. The company reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.03. On average, equities analysts predict that Preferred Bank will post $2.42 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, July 21st. Shareholders of record on Thursday, July 7th were issued a $0.15 dividend. The ex-dividend date was Tuesday, July 5th. This represents a $0.60 annualized dividend and a yield of 1.84%.

An institutional investor recently raised its position in Preferred Bank stock. Dimensional Fund Advisors LP boosted its position in shares of Preferred Bank (NASDAQ:PFBC) by 13.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 334,399 shares of the company’s stock after buying an additional 40,658 shares during the period. Dimensional Fund Advisors LP owned 2.47% of Preferred Bank worth $11,042,000 as of its most recent filing with the SEC.

Preferred Bank is a commercial bank, which offers financial services to individuals and companies in Southern California. 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 individuals.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with's FREE daily email newsletter.