Preferred Bank (NASDAQ:PFBC) Shares Sold by Gallacher Capital Management LLC

Gallacher Capital Management LLC trimmed its holdings in shares of Preferred Bank (NASDAQ:PFBC) by 27.9% in the first quarter, Holdings Channel reports. The firm owned 5,030 shares of the bank’s stock after selling 1,945 shares during the period. Gallacher Capital Management LLC’s holdings in Preferred Bank were worth $386,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PFBC. AQR Capital Management LLC grew its position in Preferred Bank by 64.5% in the 3rd quarter. AQR Capital Management LLC now owns 69,277 shares of the bank’s stock valued at $4,313,000 after acquiring an additional 27,162 shares in the last quarter. Intrust Bank NA grew its position in Preferred Bank by 27.2% in the 4th quarter. Intrust Bank NA now owns 6,385 shares of the bank’s stock valued at $466,000 after acquiring an additional 1,365 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Preferred Bank by 1.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 667,256 shares of the bank’s stock valued at $48,745,000 after acquiring an additional 10,259 shares in the last quarter. Victory Capital Management Inc. grew its position in Preferred Bank by 47.6% in the 4th quarter. Victory Capital Management Inc. now owns 24,901 shares of the bank’s stock valued at $1,819,000 after acquiring an additional 8,036 shares in the last quarter. Finally, Quadrature Capital Ltd grew its position in Preferred Bank by 96.7% in the 4th quarter. Quadrature Capital Ltd now owns 16,959 shares of the bank’s stock valued at $1,236,000 after acquiring an additional 8,338 shares in the last quarter. 72.77% of the stock is owned by institutional investors and hedge funds.

Preferred Bank Trading Up 0.7 %

NASDAQ PFBC traded up $0.52 during trading on Friday, hitting $76.33. The stock had a trading volume of 17,541 shares, compared to its average volume of 84,852. The company has a market capitalization of $1.10 billion, a PE ratio of 7.32 and a beta of 0.98. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.21. The firm has a 50 day moving average price of $75.70 and a 200 day moving average price of $74.06. Preferred Bank has a twelve month low of $57.64 and a twelve month high of $81.13.

Preferred Bank (NASDAQ:PFBC) last released its earnings results on Tuesday, April 23rd. The bank reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.04. The company had revenue of $71.57 million during the quarter, compared to the consensus estimate of $68.60 million. Preferred Bank had a return on equity of 21.28% and a net margin of 28.70%. As a group, equities research analysts forecast that Preferred Bank will post 9.6 earnings per share for the current year.

Preferred Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 19th. Stockholders of record on Friday, July 5th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date is Friday, July 5th. Preferred Bank’s dividend payout ratio is presently 27.03%.

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.