Barclays PLC Purchases 11,379 Shares of Preferred Bank (NASDAQ:PFBC)

Barclays PLC grew its position in shares of Preferred Bank (NASDAQ:PFBC) by 70.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,430 shares of the bank’s stock after purchasing an additional 11,379 shares during the quarter. Barclays PLC owned approximately 0.19% of Preferred Bank worth $2,201,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Copeland Capital Management LLC acquired a new stake in Preferred Bank during the 3rd quarter worth approximately $54,000. Point72 DIFC Ltd grew its stake in shares of Preferred Bank by 69.9% in the second quarter. Point72 DIFC Ltd now owns 848 shares of the bank’s stock worth $64,000 after purchasing an additional 349 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Preferred Bank in the third quarter valued at $76,000. Point72 Asset Management L.P. increased its holdings in 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. raised its position in Preferred Bank by 194.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,906 shares of the bank’s stock worth $153,000 after purchasing an additional 1,258 shares during the last quarter. 72.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Stephens cut Preferred Bank from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 9th.

Preferred Bank Stock Up 0.3 %

Shares of NASDAQ PFBC opened at $86.74 on Thursday. The company’s 50 day moving average price is $90.31 and its 200-day moving average price is $82.95. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.08 and a current ratio of 1.08. Preferred Bank has a 52-week low of $66.88 and a 52-week high of $99.78. The company has a market capitalization of $1.25 billion, a P/E ratio of 8.69 and a beta of 0.96.

Preferred Bank (NASDAQ:PFBC) last released its earnings results on Monday, October 21st. The bank reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.39 by $0.07. The business had revenue of $132.88 million for the quarter, compared to analyst estimates of $68.80 million. Preferred Bank had a net margin of 26.20% and a return on equity of 19.01%. During the same quarter in the previous year, the business earned $2.71 earnings per share. Equities analysts forecast that Preferred Bank will post 9.75 earnings per share for the current year.

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.