Preferred Bank (NASDAQ:PFBC) Holdings Decreased by Boston Partners

Boston Partners decreased its holdings in shares of Preferred Bank (NASDAQ:PFBC) by 0.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 462,467 shares of the bank’s stock after selling 3,183 shares during the quarter. Boston Partners owned 3.20% of Preferred Bank worth $35,481,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Comerica Bank boosted its position in Preferred Bank by 35.6% during the first quarter. Comerica Bank now owns 8,242 shares of the bank’s stock valued at $633,000 after purchasing an additional 2,163 shares during the last quarter. Kennedy Capital Management LLC acquired a new stake in Preferred Bank during the first quarter valued at $3,449,000. Price T Rowe Associates Inc. MD boosted its position in Preferred Bank by 3.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 23,359 shares of the bank’s stock valued at $1,795,000 after purchasing an additional 697 shares during the last quarter. BOKF NA acquired a new stake in shares of Preferred Bank in the first quarter worth about $296,000. Finally, CANADA LIFE ASSURANCE Co lifted its position in shares of Preferred Bank by 7.9% in the first quarter. CANADA LIFE ASSURANCE Co now owns 11,366 shares of the bank’s stock worth $871,000 after buying an additional 834 shares during the last quarter. Institutional investors and hedge funds own 72.77% of the company’s stock.

Preferred Bank Stock Performance

Shares of NASDAQ PFBC traded down $2.90 during trading hours on Friday, hitting $79.33. 96,733 shares of the company’s stock were exchanged, compared to its average volume of 116,427. Preferred Bank has a 1-year low of $58.52 and a 1-year high of $91.67. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of 7.66 and a beta of 0.97. The company’s 50-day moving average price is $77.46 and its 200-day moving average price is $75.31.

Preferred Bank (NASDAQ:PFBC) last posted its quarterly earnings data on Thursday, July 25th. The bank reported $2.48 earnings per share for the quarter, topping the consensus estimate of $2.39 by $0.09. Preferred Bank had a return on equity of 20.24% and a net margin of 27.35%. The business had revenue of $130.70 million during the quarter, compared to analysts’ expectations of $70.55 million. During the same quarter in the previous year, the firm earned $2.61 EPS. On average, sell-side analysts expect that Preferred Bank will post 9.63 earnings per share for the current fiscal year.

Preferred Bank Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Friday, July 5th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, July 5th. This represents a $2.80 annualized dividend and a yield of 3.53%. Preferred Bank’s dividend payout ratio is 27.03%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on PFBC shares. Stephens boosted their price target on Preferred Bank from $84.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Piper Sandler boosted their price target on Preferred Bank from $88.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th.

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 in the United States. 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.