Preferred Bank (NASDAQ:PFBC) Shares Sold by Dana Investment Advisors Inc.

Dana Investment Advisors Inc. lessened its holdings in shares of Preferred Bank (NASDAQ:PFBC - Free Report) by 4.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 85,121 shares of the bank's stock after selling 4,237 shares during the period. Dana Investment Advisors Inc. owned approximately 0.59% of Preferred Bank worth $7,353,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Smartleaf Asset Management LLC raised its stake 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 buying an additional 385 shares during the last quarter. R Squared Ltd purchased a new position in shares of Preferred Bank in the 4th quarter valued at approximately $65,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Preferred Bank in the 3rd quarter worth approximately $76,000. KBC Group NV grew its position in Preferred Bank by 46.2% during the 4th quarter. KBC Group NV now owns 914 shares of the bank's stock worth $79,000 after purchasing an additional 289 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its stake in Preferred Bank by 194.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,906 shares of the bank's stock valued at $153,000 after purchasing an additional 1,258 shares in the last quarter. Institutional investors and hedge funds own 72.77% of the company's stock.

Wall Street Analysts Forecast Growth

PFBC has been the subject of several research reports. DA Davidson lifted their price objective 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. Piper Sandler lifted their price target on Preferred Bank from $101.00 to $111.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Finally, Stephens reiterated an "equal weight" rating and set a $100.00 price target on shares of Preferred Bank in a research note on Thursday, January 30th.

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Preferred Bank Stock Performance

NASDAQ PFBC traded up $0.16 on Friday, hitting $83.90. 72,641 shares of the company's stock traded hands, compared to its average volume of 79,590. The firm's 50-day moving average price is $87.73 and its two-hundred day moving average price is $86.52. The firm has a market capitalization of $1.21 billion, a PE ratio of 8.71 and a beta of 0.93. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.19. Preferred Bank has a 1-year low of $70.22 and a 1-year high of $99.78.

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 analysts' consensus estimates of $2.42 by ($0.17). Preferred Bank had a net margin of 25.00% and a return on equity of 17.80%. As a group, analysts expect that Preferred Bank will post 9.81 EPS for the current year.

Preferred Bank Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 23rd. Investors of record on Thursday, January 9th were paid a $0.75 dividend. This is a boost from Preferred Bank's previous quarterly dividend of $0.70. This represents a $3.00 annualized dividend and a dividend yield of 3.58%. The ex-dividend date was Friday, January 10th. Preferred Bank's payout ratio is currently 31.15%.

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. 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.