Preferred Bank (NASDAQ:PFBC) Reaches New 1-Year High at $79.77

Preferred Bank (NASDAQ:PFBC)’s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $79.77 and last traded at $79.77, with a volume of 20875 shares changing hands. The stock had previously closed at $78.20.

Preferred Bank Trading Down 0.3 %

The business’s fifty day moving average is $74.11 and its 200-day moving average is $70.20. The stock has a market capitalization of $1.13 billion, a PE ratio of 7.55 and a beta of 1.02. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.21.

Preferred Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Friday, April 5th were given a dividend of $0.70 per share. The ex-dividend date was Thursday, April 4th. This represents a $2.80 dividend on an annualized basis and a yield of 3.59%. Preferred Bank’s dividend payout ratio (DPR) is 27.03%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. SummerHaven Investment Management LLC increased its stake in shares of Preferred Bank by 1.2% in the fourth quarter. SummerHaven Investment Management LLC now owns 12,516 shares of the bank’s stock worth $914,000 after buying an additional 147 shares during the last quarter. Yousif Capital Management LLC lifted its position in shares of Preferred Bank by 2.9% in the third quarter. Yousif Capital Management LLC now owns 7,149 shares of the bank’s stock worth $445,000 after purchasing an additional 200 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of Preferred Bank by 0.8% in the fourth quarter. Federated Hermes Inc. now owns 29,965 shares of the bank’s stock worth $2,189,000 after purchasing an additional 226 shares in the last quarter. Alps Advisors Inc. lifted its position in shares of Preferred Bank by 6.0% in the third quarter. Alps Advisors Inc. now owns 5,408 shares of the bank’s stock worth $337,000 after purchasing an additional 306 shares in the last quarter. Finally, Gladius Capital Management LP raised its position in Preferred Bank by 518.1% during the fourth quarter. Gladius Capital Management LP now owns 445 shares of the bank’s stock valued at $33,000 after acquiring an additional 373 shares in the last quarter. 72.77% of the stock is owned by institutional investors and hedge funds.

About Preferred Bank

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.