Preferred Bank (NASDAQ:PFBC) Stake Boosted by Two Sigma Securities LLC

Two Sigma Securities LLC grew its stake in shares of Preferred Bank (NASDAQ:PFBC) by 17.6% during the 4th quarter, HoldingsChannel reports. The fund owned 3,495 shares of the bank’s stock after acquiring an additional 522 shares during the period. Two Sigma Securities LLC’s holdings in Preferred Bank were worth $302,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Jump Financial LLC grew its holdings in shares of Preferred Bank by 2.1% during the 4th quarter. Jump Financial LLC now owns 9,148 shares of the bank’s stock valued at $790,000 after acquiring an additional 185 shares in the last quarter. KBC Group NV grew its holdings in shares of Preferred Bank by 46.2% during the 4th 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. Picton Mahoney Asset Management grew its holdings in shares of Preferred Bank by 110.7% during the 4th quarter. Picton Mahoney Asset Management now owns 550 shares of the bank’s stock valued at $47,000 after acquiring an additional 289 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of Preferred Bank by 2.1% during the 4th quarter. Exchange Traded Concepts LLC now owns 16,272 shares of the bank’s stock valued at $1,406,000 after acquiring an additional 334 shares in the last quarter. Finally, Sterling Capital Management LLC grew its holdings in shares of Preferred Bank by 7.3% during the 4th quarter. Sterling Capital Management LLC now owns 5,219 shares of the bank’s stock valued at $451,000 after acquiring an additional 354 shares in the last quarter. 72.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on PFBC shares. Stephens restated an “equal weight” rating and set a $100.00 price target on shares of Preferred Bank in a report on Thursday, January 30th. Piper Sandler lifted their price objective on shares of Preferred Bank from $101.00 to $111.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, DA Davidson reduced their price objective on shares of Preferred Bank from $95.00 to $90.00 and set a “neutral” rating for the company in a research note on Monday.

Preferred Bank Stock Down 0.6 %

PFBC stock opened at $79.64 on Tuesday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.19. Preferred Bank has a 1 year low of $71.43 and a 1 year high of $99.78. The company has a fifty day simple moving average of $82.62 and a 200 day simple moving average of $86.83. The firm has a market cap of $1.15 billion, a PE ratio of 8.27 and a beta of 0.71.

Preferred Bank (NASDAQ:PFBC) last released its quarterly earnings data on Friday, April 25th. The bank reported $2.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.33 by ($0.10). The business had revenue of $65.96 million during the quarter, compared to analyst estimates of $70.78 million. Preferred Bank had a net margin of 25.00% and a return on equity of 17.80%. During the same period in the previous year, the firm posted $2.44 EPS. Sell-side analysts anticipate that Preferred Bank will post 9.81 EPS for the current fiscal year.

Preferred Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 7th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Monday, April 7th. This represents a $3.00 annualized dividend and a dividend yield of 3.77%. Preferred Bank’s dividend payout ratio is presently 31.85%.

Preferred Bank Company 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.