KLP Kapitalforvaltning AS purchased a new position in shares of Preferred Bank (NASDAQ:PFBC - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,600 shares of the bank's stock, valued at approximately $916,000. KLP Kapitalforvaltning AS owned approximately 0.07% of Preferred Bank as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its holdings in Preferred Bank by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 415,722 shares of the bank's stock worth $33,362,000 after acquiring an additional 7,086 shares during the last quarter. Quantbot Technologies LP grew its stake in shares of Preferred Bank by 169.6% in the third quarter. Quantbot Technologies LP now owns 8,102 shares of the bank's stock worth $650,000 after purchasing an additional 5,097 shares during the last quarter. FMR LLC increased its holdings in 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 during the period. Martingale Asset Management L P acquired a new stake in Preferred Bank in the third quarter valued at $425,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Preferred Bank during the 3rd quarter worth $76,000. 72.77% of the stock is currently owned by institutional investors.
Preferred Bank Trading Down 3.7 %
Shares of NASDAQ:PFBC traded down $2.86 during midday trading on Friday, reaching $74.57. The company's stock had a trading volume of 85,346 shares, compared to its average volume of 80,169. Preferred Bank has a fifty-two week low of $70.99 and a fifty-two week high of $99.78. 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 firm has a 50 day moving average price of $86.74 and a two-hundred day moving average price of $86.89. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of 7.70 and a beta of 0.71.
Preferred Bank (NASDAQ:PFBC - Get Free Report) last issued its earnings results on Monday, January 27th. The bank reported $2.25 earnings per share for the quarter, missing analysts' consensus estimates 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, analysts forecast 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 given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date is Monday, April 7th. Preferred Bank's payout ratio is 31.15%.
Analysts Set New Price Targets
A number of equities research analysts have commented on the company. DA Davidson upped their price target on Preferred Bank from $98.00 to $101.00 and gave the company a "neutral" rating in a research report on Wednesday, January 29th. Stephens reissued an "equal weight" rating and set a $100.00 target price on shares of Preferred Bank in a research report on Thursday, January 30th. Finally, Piper Sandler raised their price target on shares of Preferred Bank from $101.00 to $111.00 and gave the stock an "overweight" rating in a report on Friday, January 31st.
Get Our Latest Stock Analysis on PFBC
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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