Empowered Funds LLC Trims Stock Position in Preferred Bank (NASDAQ:PFBC)

Empowered Funds LLC lowered its stake in Preferred Bank (NASDAQ:PFBC - Free Report) by 17.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,365 shares of the bank's stock after selling 8,002 shares during the period. Empowered Funds LLC owned 0.27% of Preferred Bank worth $3,314,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in PFBC. SG Americas Securities LLC bought a new stake in Preferred Bank in the third quarter valued at $294,000. CWM LLC boosted its holdings in Preferred Bank by 140.0% in the third quarter. CWM LLC now owns 2,503 shares of the bank's stock valued at $201,000 after acquiring an additional 1,460 shares in the last quarter. Copeland Capital Management LLC bought a new stake in Preferred Bank in the third quarter valued at $54,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Preferred Bank by 10.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,513 shares of the bank's stock valued at $598,000 after acquiring an additional 694 shares in the last quarter. Finally, Meritage Portfolio Management bought a new stake in shares of Preferred Bank during the 3rd quarter valued at $366,000. Institutional investors own 72.77% of the company's stock.

Preferred Bank Stock Down 1.5 %

Shares of PFBC traded down $1.41 during trading hours on Friday, hitting $89.87. The company had a trading volume of 59,095 shares, compared to its average volume of 77,617. The firm has a fifty day moving average price of $88.29 and a 200-day moving average price of $85.54. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of 9.33 and a beta of 0.97. Preferred Bank has a 52-week low of $69.69 and a 52-week high of $99.78.

Preferred Bank (NASDAQ:PFBC - Get Free Report) last posted its quarterly 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%. On average, equities research analysts forecast that Preferred Bank will post 9.81 EPS for the current fiscal year.

Preferred Bank Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 23rd. Stockholders of record on Thursday, January 9th were given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend was Friday, January 10th. This is a positive change from Preferred Bank's previous quarterly dividend of $0.70. Preferred Bank's payout ratio is currently 31.15%.

Analyst Ratings Changes

PFBC has been the topic of a number of research reports. Piper Sandler boosted their target price on shares of Preferred Bank from $101.00 to $111.00 and gave the company an "overweight" rating in a report on Friday, January 31st. DA Davidson boosted their target price on shares of Preferred Bank from $98.00 to $101.00 and gave the company a "neutral" rating in a report on Wednesday, January 29th. Finally, Stephens restated an "equal weight" rating and set a $100.00 target price on shares of Preferred Bank in a report on Thursday, January 30th.

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. 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.