Preferred Bank (PFBC) : Stieven Capital Advisors reduced its stake in Preferred Bank by 0.78% during the most recent quarter end. The investment management company now holds a total of 420,271 shares of Preferred Bank which is valued at $14,133,714 after selling 3,300 shares in Preferred Bank , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Preferred Bank makes up approximately 3.72% of Stieven Capital Advisors’s portfolio.
Other Hedge Funds, Including , Tiaa Cref Investment Management reduced its stake in PFBC by selling 3,308 shares or 4.25% in the most recent quarter. The Hedge Fund company now holds 74,451 shares of PFBC which is valued at $2,503,787.Blackrock Group Ltd boosted its stake in PFBC in the latest quarter, The investment management firm added 1,973 additional shares and now holds a total of 3,815 shares of Preferred Bank which is valued at $128,298.Advisors Asset Management reduced its stake in PFBC by selling 1,405 shares or 6.37% in the most recent quarter. The Hedge Fund company now holds 20,656 shares of PFBC which is valued at $696,727. Preferred Bank makes up approx 0.01% of Advisors Asset Management’s portfolio. Eam Investors sold out all of its stake in PFBC during the most recent quarter. The investment firm sold 33,499 shares of PFBC which is valued $1,128,581.Chicago Equity Partners reduced its stake in PFBC by selling 740 shares or 1.12% in the most recent quarter. The Hedge Fund company now holds 65,416 shares of PFBC which is valued at $2,137,141. Preferred Bank makes up approx 0.06% of Chicago Equity Partners’s portfolio.
Preferred Bank opened for trading at $33.96 and hit $34.24 on the upside on Tuesday, eventually ending the session at $34.07, with a gain of 0.32% or 0.11 points. The heightened volatility saw the trading volume jump to 35,216 shares. Company has a market cap of $469 M.
Many Wall Street Analysts have commented on Preferred Bank. Company shares were Reiterated by FBR Capital on Jul 22, 2016 to “Outperform”, Firm has raised the Price Target to $ 39 from a previous price target of $37 .FBR Capital Initiated Preferred Bank on Jul 1, 2016 to “Outperform”, Price Target of the shares are set at $37.
PREFERRED BANK is a commercial bank based in Southern California. The Bank provides personalized 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. It derives its income primarily from interest received on its loan and investment securities portfolio and fee income. The Bank conducts operations from its office in downtown Los Angeles California and ten full service branch banking offices in Los Angeles Orange and San Francisco Counties. It markets its services and conducts its business primarily in Los Angeles Orange Ventura Riverside San Bernardino and San Francisco Counties.