By otakuyassine3@gmail.com 
Arrowstreet Capital Limited Partnership lowered its stake in Preferred Bank (NASDAQ:PFBC – Free Report) by 58.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,542 shares of the bank’s stock after selling 21,890 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Preferred Bank were worth $1,343,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also made changes to their positions in PFBC. State Street Corp raised its holdings in Preferred Bank by 0.4% in the third quarter. State Street Corp now owns 592,566 shares of the bank’s stock valued at $47,553,000 after acquiring an additional 2,339 shares in the last quarter. Boston Partners increased its position in shares of Preferred Bank by 2.5% in the 4th quarter. Boston Partners now owns 530,029 shares of the bank’s stock valued at $45,806,000 after purchasing an additional 12,907 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Preferred Bank by 4.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 434,590 shares of the bank’s stock valued at $37,540,000 after purchasing an additional 18,868 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Preferred Bank by 3.6% during the 3rd quarter. Geode Capital Management LLC now owns 352,597 shares of the bank’s stock worth $28,300,000 after purchasing an additional 12,283 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Preferred Bank by 44.7% during the fourth quarter. American Century Companies Inc. now owns 199,628 shares of the bank’s stock worth $17,244,000 after purchasing an additional 61,655 shares in the last quarter. Hedge funds and other institutional investors own 72.77% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on PFBC shares. Piper Sandler lifted their price target on Preferred Bank from $101.00 to $111.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. DA Davidson boosted their target price on Preferred Bank from $98.00 to $101.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $100.00 price target on shares of Preferred Bank in a report on Thursday, January 30th.
Get Our Latest Stock Analysis on Preferred Bank
Preferred Bank Trading Up 0.2 %
NASDAQ:PFBC opened at $76.31 on Friday. The stock’s 50 day moving average price is $84.73 and its 200 day moving average price is $86.66. The company has a market capitalization of $1.10 billion, a PE ratio of 7.92 and a beta of 0.71. Preferred Bank has a 52-week low of $70.99 and a 52-week high of $99.78. 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 – Get Free Report) last announced its quarterly earnings data on Monday, January 27th. The bank reported $2.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.17). Preferred Bank had a net margin of 25.00% and a return on equity of 17.80%. On average, research analysts anticipate that Preferred Bank will post 9.81 EPS for the current year.
Preferred Bank Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 3.93%. The ex-dividend date of this dividend is Monday, April 7th. Preferred Bank’s dividend payout ratio (DPR) is 31.15%.
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.
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