ExodusPoint Capital Management LP Purchases New Position in Preferred Bank (NASDAQ:PFBC)

ExodusPoint Capital Management LP acquired a new position in Preferred Bank (NASDAQ:PFBC - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 4,500 shares of the bank's stock, valued at approximately $389,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Picton Mahoney Asset Management lifted its holdings in shares of Preferred Bank by 110.7% during the 4th 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. Smartleaf Asset Management LLC raised its holdings in shares of Preferred Bank by 217.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 562 shares of the bank's stock valued at $49,000 after buying an additional 385 shares in the last quarter. R Squared Ltd bought a new stake in Preferred Bank in the 4th quarter worth approximately $65,000. KBC Group NV boosted its stake in Preferred Bank by 46.2% in 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. Finally, Virtu Financial LLC bought a new position in Preferred Bank during the fourth quarter valued at approximately $203,000. Institutional investors own 72.77% of the company's stock.

Preferred Bank Stock Up 2.2 %

Shares of NASDAQ:PFBC traded up $1.73 on Friday, hitting $81.03. 130,162 shares of the company traded hands, compared to its average volume of 83,411. The stock has a 50 day simple moving average of $83.76 and a 200-day simple moving average of $86.60. The company has a market cap of $1.17 billion, a PE ratio of 8.41 and a beta of 0.71. Preferred Bank has a 52 week low of $71.29 and a 52 week high of $99.78. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.19.

Preferred Bank (NASDAQ:PFBC - Get Free Report) last issued its quarterly earnings data on Monday, January 27th. The bank reported $2.25 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%. As a group, research analysts expect that Preferred Bank will post 9.81 earnings per share for the current year.

Preferred Bank Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be issued a $0.75 dividend. The ex-dividend date is Monday, April 7th. This represents a $3.00 annualized dividend and a dividend yield of 3.70%. Preferred Bank's dividend payout ratio (DPR) is 31.15%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Stephens reiterated an "equal weight" rating and issued a $100.00 target price on shares of Preferred Bank in a research report on Thursday, January 30th. Piper Sandler lifted their price target 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. Finally, DA Davidson increased 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.

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.