Charles Schwab Investment Management Inc. Boosts Holdings in Preferred Bank (NASDAQ:PFBC)

Charles Schwab Investment Management Inc. boosted its position in Preferred Bank (NASDAQ:PFBC) by 1.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 415,722 shares of the bank’s stock after buying an additional 7,086 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Preferred Bank were worth $33,362,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PFBC. Copeland Capital Management LLC acquired a new stake in Preferred Bank in the third quarter valued at $54,000. Point72 DIFC Ltd lifted its holdings in Preferred Bank by 69.9% in the second quarter. Point72 DIFC Ltd now owns 848 shares of the bank’s stock valued at $64,000 after acquiring an additional 349 shares during the period. CWM LLC lifted its holdings in Preferred Bank by 96.4% in the second quarter. CWM LLC now owns 1,043 shares of the bank’s stock valued at $79,000 after acquiring an additional 512 shares during the period. Point72 Asset Management L.P. lifted its holdings in Preferred Bank by 35.1% in the second quarter. Point72 Asset Management L.P. now owns 1,486 shares of the bank’s stock valued at $112,000 after acquiring an additional 386 shares during the period. Finally, Advisors Asset Management Inc. lifted its holdings in Preferred Bank by 194.1% in the third quarter. Advisors Asset Management Inc. now owns 1,906 shares of the bank’s stock valued at $153,000 after acquiring an additional 1,258 shares during the period. 72.77% of the stock is currently owned by hedge funds and other institutional investors.

Preferred Bank Trading Down 0.6 %

NASDAQ:PFBC opened at $94.05 on Wednesday. The company has a market capitalization of $1.36 billion, a PE 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. Preferred Bank has a 52-week low of $63.90 and a 52-week high of $99.78. The stock has a fifty day simple moving average of $87.07 and a 200-day simple moving average of $81.32.

Preferred Bank (NASDAQ:PFBC) last announced its earnings results on Monday, October 21st. The bank reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.39 by $0.07. Preferred Bank had a net margin of 26.20% and a return on equity of 19.01%. The firm had revenue of $132.88 million during the quarter, compared to the consensus estimate of $68.80 million. During the same quarter in the previous year, the company posted $2.71 EPS. On average, equities research analysts expect that Preferred Bank will post 9.75 earnings per share for the current fiscal year.

Preferred Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Monday, October 7th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.98%. The ex-dividend date was Monday, October 7th. Preferred Bank’s payout ratio is 28.06%.

Analyst Upgrades and Downgrades

Separately, Stephens lifted their price target on Preferred Bank from $90.00 to $94.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd.

Preferred Bank 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.