Connor Clark & Lunn Investment Management Ltd. Has $1.45 Million Stake in Preferred Bank (NASDAQ:PFBC)

Connor Clark & Lunn Investment Management Ltd. cut its stake in shares of Preferred Bank (NASDAQ:PFBC) by 3.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,794 shares of the bank’s stock after selling 672 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.12% of Preferred Bank worth $1,451,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of PFBC. Smartleaf Asset Management LLC boosted its position in shares of Preferred Bank by 217.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 562 shares of the bank’s stock worth $49,000 after purchasing an additional 385 shares in the last quarter. R Squared Ltd bought a new position in Preferred Bank in the fourth quarter worth approximately $65,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Preferred Bank in the third quarter valued at approximately $76,000. KBC Group NV increased its holdings in shares of Preferred Bank by 46.2% during the fourth quarter. KBC Group NV now owns 914 shares of the bank’s stock valued at $79,000 after acquiring an additional 289 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in shares of Preferred Bank by 194.1% during the third quarter. Advisors Asset Management Inc. now owns 1,906 shares of the bank’s stock valued at $153,000 after acquiring an additional 1,258 shares in the last quarter. 72.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on PFBC. Piper Sandler lifted their price target on shares of Preferred Bank from $101.00 to $111.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Stephens reiterated an “equal weight” rating and set a $100.00 price objective on shares of Preferred Bank in a report on Thursday, January 30th. Finally, DA Davidson boosted their target price on shares of Preferred Bank from $98.00 to $101.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th.

Preferred Bank Stock Up 1.3 %

Shares of NASDAQ:PFBC opened at $84.04 on Thursday. The business’s 50 day moving average is $87.08 and its 200 day moving average is $86.59. Preferred Bank has a 12-month low of $70.99 and a 12-month high of $99.78. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of 8.73 and a beta of 0.93. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.19.

Preferred Bank (NASDAQ:PFBC) last posted its quarterly earnings data on Monday, January 27th. The bank reported $2.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.17). Preferred Bank had a return on equity of 17.80% and a net margin of 25.00%. On average, sell-side analysts forecast that Preferred Bank will post 9.81 earnings per share for the current fiscal year.

Preferred Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 3.57%. Preferred Bank’s dividend payout ratio (DPR) is 31.15%.

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. The company accepts checking, savings, and money market deposit accounts; fixed-rate and fixed maturity retail, and non-retail certificates of deposit; and individual retirement accounts.