GSA Capital Partners LLP Grows Stock Position in Preferred Bank (NASDAQ:PFBC)

GSA Capital Partners LLP lifted its holdings in Preferred Bank (NASDAQ:PFBC - Free Report) by 62.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 31,726 shares of the bank's stock after buying an additional 12,197 shares during the quarter. GSA Capital Partners LLP owned approximately 0.22% of Preferred Bank worth $2,546,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PFBC. Copeland Capital Management LLC purchased a new position in Preferred Bank during the 3rd quarter worth $54,000. Point72 DIFC Ltd increased its holdings in Preferred Bank by 69.9% during the 2nd quarter. Point72 DIFC Ltd now owns 848 shares of the bank's stock worth $64,000 after purchasing an additional 349 shares during the period. CWM LLC increased its holdings in Preferred Bank by 96.4% during the 2nd quarter. CWM LLC now owns 1,043 shares of the bank's stock worth $79,000 after purchasing an additional 512 shares during the period. Point72 Asset Management L.P. increased its holdings in Preferred Bank by 35.1% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,486 shares of the bank's stock worth $112,000 after purchasing an additional 386 shares during the period. Finally, SG Americas Securities LLC purchased a new position in Preferred Bank during the 1st quarter worth $118,000. 72.77% of the stock is currently owned by hedge funds and other institutional investors.

Preferred Bank Stock Down 1.0 %

NASDAQ PFBC traded down $0.94 during midday trading on Tuesday, hitting $95.27. 65,816 shares of the company traded hands, compared to its average volume of 82,321. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.08 and a quick ratio of 1.08. The company has a market cap of $1.37 billion, a PE ratio of 9.65 and a beta of 0.94. The company's 50-day simple moving average is $82.39 and its 200-day simple moving average is $79.51. Preferred Bank has a 52 week low of $60.20 and a 52 week high of $97.21.

Preferred Bank (NASDAQ:PFBC - Get Free Report) last posted its quarterly earnings data on Monday, October 21st. The bank reported $2.46 earnings per share for the quarter, topping analysts' consensus estimates of $2.39 by $0.07. The firm had revenue of $132.88 million during the quarter, compared to analysts' expectations of $68.80 million. Preferred Bank had a return on equity of 19.01% and a net margin of 26.20%. During the same quarter last year, the firm earned $2.71 EPS. As a group, equities research analysts forecast that Preferred Bank will post 9.75 earnings per share for the current year.

Preferred Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, October 7th were given a $0.70 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.94%. Preferred Bank's payout ratio is 28.06%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Stephens raised their price objective on Preferred Bank from $90.00 to $94.00 and gave the stock an "overweight" rating in a report on Tuesday, October 22nd. Piper Sandler increased their target price on Preferred Bank from $88.00 to $105.00 and gave the company an "overweight" rating in a research report on Monday, July 29th.

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.