SkyOak Wealth LLC bought a new position in shares of Preferred Bank (NASDAQ:PFBC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 3,249 shares of the bank's stock, valued at approximately $281,000.
Several other institutional investors have also modified their holdings of PFBC. R Squared Ltd purchased a new stake in Preferred Bank in the 4th quarter valued at approximately $65,000. KBC Group NV grew its position in shares of Preferred Bank by 46.2% during the fourth quarter. KBC Group NV now owns 914 shares of the bank's stock worth $79,000 after buying an additional 289 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in shares of Preferred Bank by 12.7% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 3,498 shares of the bank's stock valued at $302,000 after buying an additional 394 shares during the period. Exchange Traded Concepts LLC grew its position in Preferred Bank by 2.1% in the 4th quarter. Exchange Traded Concepts LLC now owns 16,272 shares of the bank's stock worth $1,406,000 after purchasing an additional 334 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of Preferred Bank by 59.6% during the fourth quarter. SG Americas Securities LLC now owns 5,845 shares of the bank's stock valued at $505,000 after acquiring an additional 2,183 shares during the period. Hedge funds and other institutional investors own 72.77% of the company's stock.
Preferred Bank Stock Performance
NASDAQ PFBC traded up $1.67 on Thursday, hitting $93.15. 100,306 shares of the stock traded hands, compared to its average volume of 82,546. The business's fifty day moving average is $88.76 and its two-hundred day moving average is $85.32. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of 9.67 and a beta of 0.97. Preferred Bank has a 12 month low of $66.88 and a 12 month high of $99.78. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.08 and a current ratio of 1.08.
Preferred Bank (NASDAQ:PFBC - Get Free Report) last released its earnings results on Monday, January 27th. The bank reported $2.25 earnings per share for the quarter, missing analysts' consensus estimates of $2.42 by ($0.17). Preferred Bank had a return on equity of 17.80% and a net margin of 25.00%. As a group, equities analysts anticipate that Preferred Bank will post 9.58 EPS for the current fiscal year.
Preferred Bank Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 23rd. Shareholders of record on Thursday, January 9th were paid a dividend of $0.75 per share. This is a boost from Preferred Bank's previous quarterly dividend of $0.70. This represents a $3.00 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend was Friday, January 10th. Preferred Bank's payout ratio is presently 31.15%.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on the company. Stephens reissued an "equal weight" rating and set a $100.00 price objective on shares of Preferred Bank in a research report on Thursday, January 30th. Piper Sandler upped their target price on shares of Preferred Bank from $101.00 to $111.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Finally, DA Davidson increased their target price on Preferred Bank from $98.00 to $101.00 and gave the stock a "neutral" rating in a report on Wednesday, January 29th.
Check Out Our Latest Report on Preferred Bank
Preferred Bank Company Profile
(
Free Report)
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.
Featured Stories
Before you consider Preferred Bank, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Preferred Bank wasn't on the list.
While Preferred Bank currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
