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Forex

RBC Reduces Stake in PFBC

Guavy AI Editorial Team
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CAD
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Royal Bank of Canada has significantly reduced its stake in Preferred Bank (NASDAQ:PFBC) by selling off nearly three-quarters of its shares during the first quarter. The bank's holdings decreased from 33,539 to 8,918 shares.

The total value of Royal Bank of Canada's remaining stake is approximately $809,000, which represents about 0.06% of Preferred Bank's outstanding shares. This move comes as part of a broader trend in institutional investors adjusting their holdings in the company.

Other large investors have also made changes to their stakes in Preferred Bank, with Charles Schwab Investment Management Inc., Nuveen LLC, and Goldman Sachs Group Inc. all increasing their positions during the fourth quarter.

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