LSV Asset Management Has $11.49 Million Stake in Preferred Bank (NASDAQ:PFBC)

LSV Asset Management lowered its holdings in Preferred Bank (NASDAQ:PFBC - Free Report) by 20.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 133,061 shares of the bank's stock after selling 34,172 shares during the quarter. LSV Asset Management owned 0.92% of Preferred Bank worth $11,494,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. American Century Companies Inc. grew its stake in shares of Preferred Bank by 44.7% in the 4th quarter. American Century Companies Inc. now owns 199,628 shares of the bank's stock valued at $17,244,000 after purchasing an additional 61,655 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Preferred Bank by 24.0% during the third quarter. JPMorgan Chase & Co. now owns 186,107 shares of the bank's stock valued at $14,935,000 after acquiring an additional 35,979 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Preferred Bank by 4.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 434,590 shares of the bank's stock valued at $37,540,000 after purchasing an additional 18,868 shares in the last quarter. Boston Partners grew its holdings in shares of Preferred Bank by 2.5% in the 4th quarter. Boston Partners now owns 530,029 shares of the bank's stock worth $45,806,000 after purchasing an additional 12,907 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Preferred Bank by 3.6% during the 3rd quarter. Geode Capital Management LLC now owns 352,597 shares of the bank's stock worth $28,300,000 after purchasing an additional 12,283 shares in the last quarter. Institutional investors and hedge funds own 72.77% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PFBC. DA Davidson raised their price objective on shares of Preferred Bank from $98.00 to $101.00 and gave the stock a "neutral" rating in a report on Wednesday, January 29th. 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. Finally, Piper Sandler lifted their price target on Preferred Bank from $101.00 to $111.00 and gave the company an "overweight" rating in a report on Friday, January 31st.

Preferred Bank Trading Up 2.2 %

PFBC traded up $1.73 during mid-day trading on Friday, reaching $81.03. The stock had a trading volume of 130,162 shares, compared to its average volume of 83,411. The stock has a market capitalization of $1.17 billion, a P/E 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 debt-to-equity ratio of 0.19, a quick ratio of 1.08 and a current ratio of 1.08. The firm's fifty day simple moving average is $83.76 and its two-hundred day simple moving average is $86.60.

Preferred Bank (NASDAQ:PFBC - Get Free Report) last announced its quarterly earnings data on Monday, January 27th. The bank reported $2.25 EPS 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%. On average, equities analysts predict that Preferred Bank will post 9.81 EPS for the current year.

Preferred Bank Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be given a $0.75 dividend. The ex-dividend date of this dividend is Monday, April 7th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.70%. Preferred Bank's dividend payout ratio is 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.