Wells Fargo & Company MN raised its stake in Preferred Bank (NASDAQ:PFBC) by 15.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,178 shares of the bank’s stock after acquiring an additional 4,134 shares during the quarter. Wells Fargo & Company MN’s holdings in Preferred Bank were worth $1,774,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Eqis Capital Management Inc. lifted its holdings in Preferred Bank by 26.6% in the fourth quarter. Eqis Capital Management Inc. now owns 5,577 shares of the bank’s stock valued at $328,000 after acquiring an additional 1,172 shares during the period. Cadence Capital Management LLC lifted its holdings in Preferred Bank by 7.8% in the fourth quarter. Cadence Capital Management LLC now owns 28,316 shares of the bank’s stock valued at $1,664,000 after acquiring an additional 2,037 shares during the period. Thomson Horstmann & Bryant Inc. lifted its holdings in Preferred Bank by 4.0% in the fourth quarter. Thomson Horstmann & Bryant Inc. now owns 66,863 shares of the bank’s stock valued at $3,930,000 after acquiring an additional 2,551 shares during the period. California Public Employees Retirement System lifted its holdings in Preferred Bank by 7.8% in the third quarter. California Public Employees Retirement System now owns 36,879 shares of the bank’s stock valued at $2,226,000 after acquiring an additional 2,679 shares during the period. Finally, First Mercantile Trust Co. acquired a new position in Preferred Bank in the fourth quarter valued at approximately $256,000. 84.06% of the stock is owned by institutional investors.

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PFBC has been the subject of a number of analyst reports. Zacks Investment Research downgraded Preferred Bank from a “buy” rating to a “hold” rating in a report on Saturday, December 30th. BidaskClub raised Preferred Bank from a “sell” rating to a “hold” rating in a report on Friday, March 9th. B. Riley reissued a “buy” rating and issued a $76.00 price target on shares of Preferred Bank in a report on Wednesday, January 24th. Sandler O’Neill reissued a “buy” rating and issued a $73.00 price target on shares of Preferred Bank in a report on Tuesday, January 23rd. Finally, Raymond James Financial raised Preferred Bank from an “outperform” rating to a “strong-buy” rating and set a $71.00 price target for the company in a report on Tuesday, January 9th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company’s stock. Preferred Bank has a consensus rating of “Buy” and an average price target of $72.60.

Preferred Bank stock opened at $65.73 on Tuesday. The company has a market capitalization of $851.28, a PE ratio of 19.22, a price-to-earnings-growth ratio of 1.41 and a beta of 0.98. Preferred Bank has a 12 month low of $46.88 and a 12 month high of $67.65.

Preferred Bank (NASDAQ:PFBC) last posted its quarterly earnings data on Monday, January 22nd. The bank reported $0.98 EPS for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.08. The business had revenue of $35.78 million during the quarter, compared to analysts’ expectations of $36.37 million. Preferred Bank had a return on equity of 16.69% and a net margin of 26.51%. sell-side analysts anticipate that Preferred Bank will post 4.57 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 23rd. Stockholders of record on Monday, April 9th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend is Friday, April 6th. Preferred Bank’s dividend payout ratio (DPR) is presently 25.73%.

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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.

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

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