Preferred Bank (NASDAQ:PFBC) Position Boosted by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its holdings in shares of Preferred Bank (NASDAQ:PFBC - Free Report) by 1.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 415,722 shares of the bank's stock after purchasing an additional 7,086 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 2.88% of Preferred Bank worth $33,362,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in PFBC. Copeland Capital Management LLC purchased a new position in shares of Preferred Bank during the 3rd quarter worth $54,000. Point72 DIFC Ltd increased its holdings in shares of Preferred Bank by 69.9% during the 2nd quarter. Point72 DIFC Ltd now owns 848 shares of the bank's stock worth $64,000 after buying an additional 349 shares during the last quarter. CWM LLC increased its holdings in shares of Preferred Bank by 96.4% during the 2nd quarter. CWM LLC now owns 1,043 shares of the bank's stock worth $79,000 after buying an additional 512 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in shares of Preferred Bank by 35.1% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,486 shares of the bank's stock worth $112,000 after buying an additional 386 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in shares of 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 buying an additional 1,258 shares during the last quarter. Hedge funds and other institutional investors own 72.77% of the company's stock.

Wall Street Analysts Forecast Growth

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

Preferred Bank Trading Up 0.6 %

Shares of PFBC stock traded up $0.52 on Wednesday, reaching $94.57. 79,436 shares of the stock were exchanged, compared to its average volume of 81,106. The stock has a market cap of $1.36 billion, a P/E ratio of 9.42 and a beta of 0.96. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.20. The firm has a 50 day moving average of $87.07 and a two-hundred day moving average of $81.32. Preferred Bank has a 1-year low of $63.90 and a 1-year high of $99.78.

Preferred Bank (NASDAQ:PFBC - Get Free Report) last announced its quarterly 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. Preferred Bank had a return on equity of 19.01% and a net margin of 26.20%. The firm had revenue of $132.88 million during the quarter, compared to the consensus estimate of $68.80 million. During the same period in the prior year, the firm earned $2.71 EPS. On average, research analysts anticipate that Preferred Bank will post 9.75 EPS for the current year.

Preferred Bank Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Monday, October 7th were issued a $0.70 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $2.80 annualized dividend and a yield of 2.96%. Preferred Bank's dividend payout ratio is currently 28.06%.

Preferred Bank Company 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.