Preferred Bank (PFBC) Shares Bought by Cadence Capital Management LLC

Cadence Capital Management LLC grew its position in shares of Preferred Bank (NASDAQ:PFBC) by 5.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,279 shares of the bank’s stock after buying an additional 1,275 shares during the quarter. Cadence Capital Management LLC owned 0.20% of Preferred Bank worth $1,586,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PFBC. BNP Paribas Arbitrage SA increased its stake in shares of Preferred Bank by 80.4% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 2,415 shares of the bank’s stock worth $146,000 after purchasing an additional 1,076 shares in the last quarter. UBS Asset Management Americas Inc. purchased a new stake in shares of Preferred Bank in the 1st quarter worth $207,000. Sheaff Brock Investment Advisors LLC purchased a new stake in shares of Preferred Bank in the 2nd quarter worth $220,000. Stevens Capital Management LP purchased a new stake in shares of Preferred Bank in the 3rd quarter worth $237,000. Finally, Voya Investment Management LLC purchased a new stake in shares of Preferred Bank in the 2nd quarter worth $269,000. 80.30% of the stock is currently owned by hedge funds and other institutional investors.

Preferred Bank (NASDAQ:PFBC) traded up $0.73 during trading hours on Friday, hitting $63.33. The stock had a trading volume of 117,174 shares, compared to its average volume of 58,621. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market cap of $825.57, a price-to-earnings ratio of 19.81, a price-to-earnings-growth ratio of 1.88 and a beta of 0.92. Preferred Bank has a 52-week low of $44.35 and a 52-week high of $66.58.

Preferred Bank (NASDAQ:PFBC) last posted its quarterly earnings data on Tuesday, October 24th. The bank reported $0.94 EPS for the quarter, topping the consensus estimate of $0.85 by $0.09. The firm had revenue of $36.67 million during the quarter, compared to analyst estimates of $34.68 million. Preferred Bank had a return on equity of 15.22% and a net margin of 29.33%. research analysts anticipate that Preferred Bank will post 3.34 earnings per share for the current year.

Several equities research analysts have recently commented on PFBC shares. Zacks Investment Research lowered Preferred Bank from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. FBR & Co restated a “buy” rating and issued a $70.00 price objective (up from $65.00) on shares of Preferred Bank in a research note on Wednesday, October 25th. Finally, ValuEngine lowered Preferred Bank from a “buy” rating to a “hold” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $68.50.

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About Preferred Bank

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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