Prudential Financial Inc. lifted its position in shares of Preferred Bank (NASDAQ:PFBC) by 60.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 53,030 shares of the bank’s stock after buying an additional 19,920 shares during the quarter. Prudential Financial Inc. owned approximately 0.37% of Preferred Bank worth $2,836,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Stanley Laman Group Ltd. raised its stake in shares of Preferred Bank by 15.6% during the 2nd quarter. Stanley Laman Group Ltd. now owns 9,226 shares of the bank’s stock worth $493,000 after buying an additional 1,245 shares during the last quarter. Virginia Retirement Systems ET AL raised its stake in shares of Preferred Bank by 75.0% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 18,200 shares of the bank’s stock worth $973,000 after buying an additional 7,800 shares during the last quarter. Federated Investors Inc. PA raised its stake in shares of Preferred Bank by 2.0% during the 2nd quarter. Federated Investors Inc. PA now owns 43,082 shares of the bank’s stock worth $2,304,000 after buying an additional 849 shares during the last quarter. Cadence Capital Management LLC raised its stake in shares of Preferred Bank by 5.8% during the 2nd quarter. Cadence Capital Management LLC now owns 25,004 shares of the bank’s stock worth $1,337,000 after buying an additional 1,366 shares during the last quarter. Finally, Marshall Wace North America L.P. raised its stake 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 buying an additional 454 shares during the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

Preferred Bank (PFBC) opened at 55.21 on Monday. The firm has a market cap of $793.31 million, a P/E ratio of 18.96 and a beta of 0.95. Preferred Bank has a 52 week low of $34.31 and a 52 week high of $58.98. The company has a 50-day moving average of $53.93 and a 200 day moving average of $53.12.

Preferred Bank (NASDAQ:PFBC) last announced its quarterly earnings data on Tuesday, July 18th. The bank reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.05. The firm had revenue of $32.55 million during the quarter, compared to the consensus estimate of $31.78 million. Preferred Bank had a return on equity of 14.05% and a net margin of 28.91%. On average, equities analysts predict that Preferred Bank will post $3.21 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 20th. Investors of record on Friday, October 6th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend is Thursday, October 5th. Preferred Bank’s dividend payout ratio is currently 27.49%.

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PFBC has been the subject of several research reports. FBR & Co reaffirmed a “buy” rating on shares of Preferred Bank in a research note on Wednesday, July 19th. BidaskClub raised Preferred Bank from a “hold” rating to a “buy” rating in a research note on Tuesday, July 11th. Zacks Investment Research raised Preferred Bank from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a research note on Saturday, June 24th. ValuEngine raised shares of Preferred Bank from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, Stephens raised shares of Preferred Bank from an “equal weight” rating to an “overweight” rating in a research note on Monday, July 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” 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.

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

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