5 Best Performing Bank Stocks in 2022

3. Professional Holding Corp. (NASDAQ:PFHD)

Number of Hedge Fund Holders: 13

YTD Share Price Gain as of December 28: 45.57%

Professional Holding Corp. (NASDAQ:PFHD) is a Florida-based company that operates primarily through its subsidiary, Professional Bank, and provides banking products and services to small and medium sized businesses, professionals, and entrepreneurs. On October 28, Professional Holding Corp. (NASDAQ:PFHD) reported a Q3 GAAP EPS of $0.63 and a revenue of $26.02 million, topping analysts’ estimates by $0.06 and $1.3 million, respectively. Revenue over the period gained 26.4% on a year-over-year basis. It is one of the best performing bank stocks in 2022. 

On August 11, Keefe Bruyette analyst Brady Gailey downgraded Professional Holding Corp. (NASDAQ:PFHD) to Market Perform from Outperform with a price target of $35.50, up from $27.

According to Insider Monkey’s data, 13 hedge funds were long Professional Holding Corp. (NASDAQ:PFHD) at the end of September 2022, compared to 6 funds in the last quarter. Alec Litowitz and Ross Laser’s Magnetar Capital is the biggest stakeholder of the company, with 457,045 shares worth $11.85 million.