Segall Bryant & Hamill LLC Sells 7,859 Shares of Preferred Bank (NASDAQ:PFBC)

Segall Bryant & Hamill LLC lessened its position in shares of Preferred Bank (NASDAQ:PFBC - Free Report) by 12.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 53,007 shares of the bank's stock after selling 7,859 shares during the quarter. Segall Bryant & Hamill LLC owned about 0.37% of Preferred Bank worth $4,579,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in PFBC. Picton Mahoney Asset Management grew its holdings in 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 period. Smartleaf Asset Management LLC boosted its position in shares of Preferred Bank by 217.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 562 shares of the bank's stock worth $49,000 after purchasing an additional 385 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Preferred Bank during the fourth quarter worth $65,000. KBC Group NV increased its holdings in Preferred Bank by 46.2% in the fourth quarter. KBC Group NV now owns 914 shares of the bank's stock valued at $79,000 after purchasing an additional 289 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Preferred Bank in the third quarter valued at about $76,000. Institutional investors own 72.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. DA Davidson boosted their target price on Preferred Bank from $98.00 to $101.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 29th. Piper Sandler upped their target price on shares of Preferred Bank from $101.00 to $111.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Finally, Stephens reiterated an "equal weight" rating and issued a $100.00 target price on shares of Preferred Bank in a report on Thursday, January 30th.

Remove Ads

Preferred Bank Trading Up 0.2 %

Shares of Preferred Bank stock traded up $0.17 during trading hours on Tuesday, hitting $83.83. The company's stock had a trading volume of 140,517 shares, compared to its average volume of 79,623. Preferred Bank has a 12 month low of $70.99 and a 12 month high of $99.78. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.08 and a quick ratio of 1.08. The company has a market capitalization of $1.21 billion, a PE ratio of 8.71 and a beta of 0.93. The stock has a 50 day moving average of $86.96 and a 200 day moving average of $86.97.

Preferred Bank (NASDAQ:PFBC - Get Free Report) last announced its quarterly 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 net margin of 25.00% and a return on equity of 17.80%. Analysts predict that Preferred Bank will post 9.81 earnings per share for the current year.

Preferred Bank Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend is Monday, April 7th. Preferred Bank's payout ratio is presently 31.15%.

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.