Marshall Wace North America L.P. Acquires 454 Shares of Preferred Bank (NASDAQ:PFBC)

Marshall Wace North America L.P. increased its stake in shares of Preferred Bank (NASDAQ:PFBC) by 2.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,177 shares of the bank’s stock after acquiring an additional 454 shares during the period. Marshall Wace North America L.P. owned about 0.14% of Preferred Bank worth $1,069,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PFBC. Nuveen Asset Management LLC raised its holdings in Preferred Bank by 52.5% during the first quarter. Nuveen Asset Management LLC now owns 530,245 shares of the bank’s stock worth $28,453,000 after acquiring an additional 182,564 shares in the last quarter. Rothschild Asset Management Inc. increased its position in Preferred Bank by 243.5% during the first quarter. Rothschild Asset Management Inc. now owns 111,121 shares of the bank’s stock worth $5,963,000 after buying an additional 78,772 shares during the last quarter. Wellington Management Group LLP increased its position in Preferred Bank by 38.5% during the first quarter. Wellington Management Group LLP now owns 195,104 shares of the bank’s stock worth $10,469,000 after buying an additional 54,200 shares during the last quarter. O Shaughnessy Asset Management LLC increased its position in Preferred Bank by 314.9% during the first quarter. O Shaughnessy Asset Management LLC now owns 66,940 shares of the bank’s stock worth $3,592,000 after buying an additional 50,806 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Preferred Bank by 10.2% during the first quarter. Vanguard Group Inc. now owns 522,054 shares of the bank’s stock worth $28,013,000 after buying an additional 48,266 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

PFBC has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded Preferred Bank from a “buy” rating to a “hold” rating in a research report on Friday, June 23rd. BidaskClub downgraded Preferred Bank from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. ValuEngine raised Preferred Bank from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Stephens raised Preferred Bank from an “equal weight” rating to an “overweight” rating in a research report on Monday, July 10th. Finally, FBR & Co restated a “buy” rating on shares of Preferred Bank in a research note on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Preferred Bank presently has a consensus rating of “Buy” and an average price target of $60.50.

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Preferred Bank (NASDAQ:PFBC) opened at 52.15 on Friday. The company has a market capitalization of $749.34 million, a PE ratio of 17.91 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 stock has a 50 day moving average price of $54.09 and a 200-day moving average price of $53.21.

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

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.

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

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