Miles Capital Inc. Acquires New Position in Preferred Bank (NASDAQ:PFBC)

Miles Capital Inc. acquired a new stake in shares of Preferred Bank (NASDAQ:PFBC) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 4,573 shares of the bank’s stock, valued at approximately $216,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quantamental Technologies LLC purchased a new stake in shares of Preferred Bank in the 1st quarter valued at approximately $31,000. Panagora Asset Management Inc. boosted its position in shares of Preferred Bank by 39.3% during the 2nd quarter. Panagora Asset Management Inc. now owns 1,105 shares of the bank’s stock worth $52,000 after purchasing an additional 312 shares during the period. BNP Paribas Arbitrage SA boosted its position in shares of Preferred Bank by 72,425.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,901 shares of the bank’s stock worth $130,000 after purchasing an additional 2,897 shares during the period. SG Americas Securities LLC purchased a new position in shares of Preferred Bank during the 1st quarter worth approximately $199,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of Preferred Bank during the 2nd quarter worth approximately $205,000. 77.57% of the stock is owned by institutional investors.

Shares of NASDAQ PFBC traded up $0.30 during mid-day trading on Friday, reaching $53.84. The company had a trading volume of 9,223 shares, compared to its average volume of 58,315. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.27. The firm has a 50 day simple moving average of $50.80 and a two-hundred day simple moving average of $48.32. The stock has a market cap of $816.54 million, a P/E ratio of 11.83, a PEG ratio of 0.99 and a beta of 1.20. Preferred Bank has a 52-week low of $39.87 and a 52-week high of $61.88.



Preferred Bank (NASDAQ:PFBC) last posted its earnings results on Wednesday, July 17th. The bank reported $1.31 EPS for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.03. The firm had revenue of $43.83 million for the quarter, compared to the consensus estimate of $43.82 million. Preferred Bank had a net margin of 33.21% and a return on equity of 17.73%. On average, equities analysts expect that Preferred Bank will post 5.23 EPS for the current year.

PFBC has been the subject of a number of research analyst reports. BidaskClub raised shares of Preferred Bank from a “hold” rating to a “buy” rating in a research report on Saturday, August 31st. Raymond James reduced their target price on shares of Preferred Bank from $57.00 to $55.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. B. Riley lowered shares of Preferred Bank from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $59.00 to $55.00 in a report on Wednesday, August 21st. DA Davidson set a $56.00 price objective on shares of Preferred Bank and gave the company a “hold” rating in a report on Friday, July 19th. Finally, Zacks Investment Research upgraded shares of Preferred Bank from a “sell” rating to a “hold” rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $52.80.

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 in the United States. The company's deposit products include checking, savings, and money market deposit accounts; fixed-rate and fixed maturity retail, and non-retail certificates of deposit; and individual retirement accounts.

Featured Article: Put Option Volume

Institutional Ownership by Quarter for Preferred Bank (NASDAQ:PFBC)

Receive News & Ratings for Preferred Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Preferred Bank and related companies with MarketBeat.com's FREE daily email newsletter.