Insider Monkey finished processing more than 700 13F filings made by hedge funds and prominent investors. These filings show these funds’ portfolio positions as of September 30. In this article we are going to take a look at smart money sentiment towards Preferred Bank (NASDAQ:PFBC).
Is Preferred Bank (NASDAQ:PFBC) a great investment right now? Hedge funds are becoming more confident. The number of bullish hedge fund bets increased by 1 lately. PFBC was in 10 hedge funds’ portfolios at the end of the third quarter of 2015. There were 9 hedge funds in our database with PFBC positions at the end of the previous quarter. The level and the change in hedge fund popularity aren’t the only variables you need to analyze to decipher hedge funds’ perspectives. A stock may witness a boost in popularity, but it may still be less popular than similarly priced stocks. That’s why at the end of this article we will examine companies such as YRC Worldwide, Inc. (NASDAQ:YRCW), Eclipse Resources Corp (NYSE:ECR), and SunCoke Energy Partners LP (NYSE:SXCP) to gather more data points.
According to most traders, hedge funds are assumed to be underperforming, old investment tools of years past. While there are more than an 8000 funds trading today, Our experts look at the upper echelon of this club, around 700 funds. These money managers have their hands on the majority of the smart money’s total asset base, and by observing their highest performing equity investments, Insider Monkey has determined a number of investment strategies that have historically outstripped the market. Insider Monkey’s small-cap hedge fund strategy exceeded the S&P 500 index by 12 percentage points per annum for a decade in their back tests.
Now, let’s take a glance at the latest action regarding Preferred Bank (NASDAQ:PFBC).
What have hedge funds been doing with Preferred Bank (NASDAQ:PFBC)?
At the Q3’s end, a total of 10 of the hedge funds tracked by Insider Monkey were long this stock, a change of 11% from one quarter earlier. With hedge funds’ positions undergoing their usual ebb and flow, there exists a few key hedge fund managers who were boosting their stakes significantly (or already accumulated large positions).
According to Insider Monkey’s hedge fund database, Basswood Capital, managed by Matthew Lindenbaum, holds the most valuable position in Preferred Bank (NASDAQ:PFBC). Basswood Capital has a $24.2 million position in the stock, comprising 1.2% of its 13F portfolio. Sitting at the No. 2 spot is Renaissance Technologies holding a $11.5 million position; less than 0.1%% of its 13F portfolio is allocated to the company. Remaining hedge funds and institutional investors that are bullish consist of Fred Cummings’s Elizabeth Park Capital Management, Israel Englander’s Millennium Management and John Overdeck and David Siegel’s Two Sigma Advisors.