Wells Fargo & Company MN grew its stake in Professional Holding Corp. (NASDAQ:PFHD) by 15.9% during the 4th quarter, Holdings Channel reports. The firm owned 23,063 shares of the company’s stock after purchasing an additional 3,169 shares during the quarter. Wells Fargo & Company MN’s holdings in Professional were worth $355,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in shares of Professional by 7.8% in the fourth quarter. BlackRock Inc. now owns 541,952 shares of the company’s stock valued at $8,362,000 after purchasing an additional 39,440 shares during the period. Alliancebernstein L.P. increased its holdings in Professional by 1.7% during the 4th quarter. Alliancebernstein L.P. now owns 163,718 shares of the company’s stock worth $2,526,000 after purchasing an additional 2,749 shares during the period. Bank of New York Mellon Corp lifted its stake in Professional by 38.2% in the fourth quarter. Bank of New York Mellon Corp now owns 81,792 shares of the company’s stock worth $1,262,000 after acquiring an additional 22,624 shares during the last quarter. State Street Corp lifted its position in shares of Professional by 22.7% during the 3rd quarter. State Street Corp now owns 64,536 shares of the company’s stock worth $865,000 after purchasing an additional 11,936 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Professional by 88.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 28,806 shares of the company’s stock valued at $387,000 after acquiring an additional 13,489 shares during the last quarter. Hedge funds and other institutional investors own 51.38% of the company’s stock.
PFHD has been the subject of a number of analyst reports. TheStreet upgraded shares of Professional from a “c-” rating to a “b-” rating in a research report on Tuesday. Stephens upgraded shares of Professional from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $17.50 to $18.50 in a report on Wednesday, February 3rd. Finally, Zacks Investment Research raised Professional from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research note on Tuesday, January 5th.
Professional (NASDAQ:PFHD) last released its earnings results on Friday, January 29th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.03. The business had revenue of $19.76 million during the quarter, compared to the consensus estimate of $18.28 million. On average, research analysts expect that Professional Holding Corp. will post 0.76 earnings per share for the current fiscal year.
Professional Holding Corp., a financial holding company, operates primarily through its subsidiary, Professional Bank, provides banking products and services to small and medium sized businesses, other professionals, entrepreneurs, and high net worth individuals. Its deposit products include checking, savings, and money market accounts, as well as IRAs and certificates of deposit.
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