Preferred Bank (NASDAQ:PFBC) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its stake in shares of Preferred Bank (NASDAQ:PFBC) by 1.7% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 415,722 shares of the bank’s stock after acquiring an additional 7,086 shares during the period. Charles Schwab Investment Management Inc. owned about 2.88% of Preferred Bank worth $33,362,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Copeland Capital Management LLC purchased a new stake in shares of Preferred Bank during the third quarter worth $54,000. Point72 DIFC Ltd grew its holdings in shares of Preferred Bank by 69.9% in the second quarter. Point72 DIFC Ltd now owns 848 shares of the bank’s stock valued at $64,000 after purchasing an additional 349 shares during the period. CWM LLC grew its holdings in shares of Preferred Bank by 96.4% in the second quarter. CWM LLC now owns 1,043 shares of the bank’s stock valued at $79,000 after purchasing an additional 512 shares during the period. Point72 Asset Management L.P. grew its holdings in shares of Preferred Bank by 35.1% in the second quarter. Point72 Asset Management L.P. now owns 1,486 shares of the bank’s stock valued at $112,000 after purchasing an additional 386 shares during the period. Finally, Advisors Asset Management Inc. boosted its stake in Preferred Bank by 194.1% during the third quarter. Advisors Asset Management Inc. now owns 1,906 shares of the bank’s stock worth $153,000 after buying an additional 1,258 shares during the period. 72.77% of the stock is currently owned by institutional investors and hedge funds.

Preferred Bank Stock Down 0.6 %

Shares of NASDAQ:PFBC opened at $94.05 on Wednesday. The firm’s 50 day moving average price is $87.07 and its 200 day moving average price is $81.32. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 9.42 and a beta of 0.96. Preferred Bank has a fifty-two week low of $63.90 and a fifty-two week high of $99.78. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.20.

Preferred Bank (NASDAQ:PFBC) last issued its earnings results on Monday, October 21st. The bank reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.39 by $0.07. Preferred Bank had a net margin of 26.20% and a return on equity of 19.01%. The firm had revenue of $132.88 million for the quarter, compared to analysts’ expectations of $68.80 million. During the same quarter last year, the company earned $2.71 earnings per share. As a group, equities research analysts predict that Preferred Bank will post 9.75 earnings per share for the current fiscal year.

Preferred Bank Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, October 7th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.98%. Preferred Bank’s dividend payout ratio (DPR) is presently 28.06%.

Analyst Upgrades and Downgrades

Separately, Stephens increased their target price on shares of Preferred Bank from $90.00 to $94.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd.

Preferred Bank Profile

Preferred Bank provides various commercial banking products and services to small and mid-sized businesses and their owners, entrepreneurs, real estate developers and investors, professionals, and high net worth individuals. The company accepts checking, savings, and money market deposit accounts; fixed-rate and fixed maturity retail, and non-retail certificates of deposit; and individual retirement accounts.