Amundi Increases Stake in Preferred Bank (NASDAQ:PFBC)

Amundi lifted its stake in shares of Preferred Bank (NASDAQ:PFBC - Free Report) by 191.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,993 shares of the bank's stock after acquiring an additional 3,936 shares during the quarter. Amundi's holdings in Preferred Bank were worth $511,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Smartleaf Asset Management LLC increased its holdings in Preferred Bank by 217.5% during 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 period. R Squared Ltd bought a new position in shares of Preferred Bank during the 4th quarter worth $65,000. KBC Group NV increased its stake in shares of Preferred Bank by 46.2% during the fourth quarter. KBC Group NV now owns 914 shares of the bank's stock valued at $79,000 after buying an additional 289 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Preferred Bank in the third quarter valued at about $76,000. Finally, Advisors Asset Management Inc. lifted its stake in Preferred Bank by 194.1% in the third quarter. Advisors Asset Management Inc. now owns 1,906 shares of the bank's stock worth $153,000 after acquiring an additional 1,258 shares during the period. Institutional investors own 72.77% of the company's stock.

Preferred Bank Stock Up 1.6 %

Preferred Bank stock traded up $1.39 during trading hours on Monday, reaching $85.82. The stock had a trading volume of 71,015 shares, compared to its average volume of 76,038. Preferred Bank has a 52 week low of $70.99 and a 52 week high of $99.78. The company has a market cap of $1.24 billion, a price-to-earnings ratio of 8.91 and a beta of 0.93. 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 business's 50 day moving average price is $87.11 and its 200-day moving average price is $86.66.

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Preferred Bank (NASDAQ:PFBC - Get Free Report) last posted 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%. Sell-side analysts anticipate that Preferred Bank will post 9.81 EPS for the current year.

Preferred Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Monday, April 7th. This represents a $3.00 annualized dividend and a dividend yield of 3.50%. Preferred Bank's dividend payout ratio is presently 31.15%.

Analyst Ratings Changes

A number of research analysts have commented on PFBC shares. 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. Piper Sandler lifted their price objective 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 upped their target price on Preferred Bank from $98.00 to $101.00 and gave the stock a "neutral" rating in a report 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.