Swiss National Bank continued to hold its position in Preferred Bank (NASDAQ:PFBC) during the second quarter, Holdings Channel reports. The firm owned 19,289 shares of the company’s stock at the end of the second quarter. Swiss National Bank owned approximately 0.14% of Preferred Bank worth $557,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Kennedy Capital Management Inc. increased its position in Preferred Bank by 31.8% in the first quarter. Kennedy Capital Management Inc. now owns 101,057 shares of the company’s stock worth $3,057,000 after buying an additional 24,379 shares during the period. Renaissance Technologies LLC increased its position in Preferred Bank by 7.1% in the first quarter. Renaissance Technologies LLC now owns 386,355 shares of the company’s stock worth $11,687,000 after buying an additional 25,600 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in Preferred Bank during the first quarter worth about $303,000. MAI Capital Management increased its position in Preferred Bank by 3.3% in the second quarter. MAI Capital Management now owns 14,747 shares of the company’s stock worth $426,000 after buying an additional 471 shares during the period. Finally, Bank of Montreal Can purchased a new position in Preferred Bank during the second quarter worth about $781,000. Institutional investors and hedge funds own 60.23% of the company’s stock.
Shares of Preferred Bank (NASDAQ:PFBC) traded up 0.23% during trading on Friday, hitting $34.43. The stock had a trading volume of 13,554 shares. The company has a market cap of $478.13 million, a P/E ratio of 15.16 and a beta of 0.88. The stock has a 50-day moving average price of $35.20 and a 200 day moving average price of $32.48. Preferred Bank has a 12 month low of $26.35 and a 12 month high of $36.82.
Preferred Bank (NASDAQ:PFBC) last posted its quarterly earnings data on Wednesday, July 20th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.03. Preferred Bank had a return on equity of 11.83% and a net margin of 28.55%. Equities analysts expect that Preferred Bank will post $2.43 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 21st. Investors of record on Friday, October 7th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend is Wednesday, October 5th. Preferred Bank’s payout ratio is currently 26.32%.
PFBC has been the subject of a number of research reports. Zacks Investment Research downgraded Preferred Bank from a “buy” rating to a “hold” rating in a report on Tuesday, June 28th. FBR & Co initiated coverage on Preferred Bank in a report on Friday, July 1st. They set an “outperform” rating and a $37.00 price target for the company. Finally, Raymond James Financial Inc. upgraded Preferred Bank from an “outperform” rating to a “strong-buy” rating and set a $15.00 price target for the company in a report on Thursday, August 25th.
Preferred Bank Company Profile
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.