Preferred Bank (NASDAQ:PFBC) Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. boosted its stake in Preferred Bank (NASDAQ:PFBC - Free Report) by 98.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 17,466 shares of the bank's stock after purchasing an additional 8,654 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.12% of Preferred Bank worth $1,402,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Preferred Bank by 1.3% in the first quarter. Vanguard Group Inc. now owns 868,073 shares of the bank's stock valued at $66,642,000 after buying an additional 10,931 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Preferred Bank by 7.9% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 11,366 shares of the bank's stock valued at $871,000 after buying an additional 834 shares in the last quarter. BOKF NA purchased a new position in shares of Preferred Bank in the 1st quarter valued at $296,000. Price T Rowe Associates Inc. MD raised its stake in Preferred Bank by 3.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 23,359 shares of the bank's stock worth $1,795,000 after acquiring an additional 697 shares in the last quarter. Finally, Kennedy Capital Management LLC acquired a new position in Preferred Bank in the first quarter valued at $3,449,000. 72.77% of the stock is currently owned by hedge funds and other institutional investors.

Preferred Bank Stock Performance

NASDAQ PFBC traded up $0.08 on Wednesday, hitting $95.70. 45,148 shares of the company's stock were exchanged, compared to its average volume of 81,279. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of 9.58 and a beta of 0.94. The firm's 50-day moving average price is $85.70 and its two-hundred day moving average price is $80.78. Preferred Bank has a fifty-two week low of $61.24 and a fifty-two week high of $99.78. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.08 and a quick ratio of 1.08.

Preferred Bank (NASDAQ:PFBC - Get Free Report) last released its quarterly earnings data on Monday, October 21st. The bank reported $2.46 EPS for the quarter, topping analysts' consensus estimates of $2.39 by $0.07. The firm had revenue of $132.88 million for the quarter, compared to the consensus estimate 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 firm earned $2.71 earnings per share. On average, research analysts expect that Preferred Bank will post 9.75 EPS for the current year.

Preferred Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Monday, October 7th were paid a $0.70 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $2.80 dividend on an annualized basis and a yield of 2.93%. Preferred Bank's payout ratio is 28.06%.

Analyst Ratings Changes

Separately, Stephens boosted their price objective on Preferred Bank from $90.00 to $94.00 and gave the company an "overweight" rating in a research note on Tuesday, October 22nd.

About Preferred Bank

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.