Boston Partners raised its stake in Preferred Bank (NASDAQ:PFBC - Free Report) by 2.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 530,029 shares of the bank's stock after acquiring an additional 12,907 shares during the quarter. Boston Partners owned about 3.67% of Preferred Bank worth $45,806,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently modified their holdings of the company. FMR LLC increased its holdings in shares of Preferred Bank by 4.2% in the third quarter. FMR LLC now owns 6,674 shares of the bank's stock valued at $536,000 after purchasing an additional 271 shares in the last quarter. KBC Group NV boosted its position in Preferred Bank by 46.2% in the 4th quarter. KBC Group NV now owns 914 shares of the bank's stock valued at $79,000 after buying an additional 289 shares during the last quarter. Picton Mahoney Asset Management raised its position in shares of Preferred Bank by 110.7% during the fourth quarter. Picton Mahoney Asset Management now owns 550 shares of the bank's stock worth $47,000 after acquiring an additional 289 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in shares of Preferred Bank by 2.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 16,272 shares of the bank's stock valued at $1,406,000 after acquiring an additional 334 shares during the period. Finally, Smartleaf Asset Management LLC boosted its holdings in Preferred Bank by 217.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 562 shares of the bank's stock valued at $49,000 after acquiring an additional 385 shares during the last quarter. 72.77% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several analysts have weighed in on the company. Piper Sandler boosted their price objective 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 price target on shares of 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 restated an "equal weight" rating and issued a $100.00 price objective on shares of Preferred Bank in a report on Thursday, January 30th.
View Our Latest Stock Report on PFBC
Preferred Bank Trading Up 1.6 %
Shares of Preferred Bank stock traded up $1.39 during trading on Monday, reaching $85.82. 71,015 shares of the company were exchanged, compared to its average volume of 76,038. Preferred Bank has a twelve month low of $70.99 and a twelve month high of $99.78. The business has a 50-day moving average price of $87.11 and a 200-day moving average price of $86.66. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of 8.91 and a beta of 0.93.
Preferred Bank (NASDAQ:PFBC - Get Free Report) last posted its earnings results 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 return on equity of 17.80% and a net margin of 25.00%. Sell-side analysts anticipate that Preferred Bank will post 9.81 EPS for the current fiscal year.
Preferred Bank Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 3.50%. The ex-dividend date is Monday, April 7th. Preferred Bank's payout ratio is presently 31.15%.
About Preferred Bank
(
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.
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