Preferred Bank (NASDAQ:PFBC) Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership decreased its holdings in Preferred Bank (NASDAQ:PFBC - Free Report) by 58.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,542 shares of the bank's stock after selling 21,890 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.11% of Preferred Bank worth $1,343,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Intrust Bank NA increased its holdings in shares of Preferred Bank by 18.9% in the 4th quarter. Intrust Bank NA now owns 8,835 shares of the bank's stock valued at $763,000 after purchasing an additional 1,404 shares in the last quarter. JPMorgan Chase & Co. grew its position in Preferred Bank by 1.7% during the fourth quarter. JPMorgan Chase & Co. now owns 189,196 shares of the bank's stock worth $16,343,000 after buying an additional 3,089 shares during the period. Prudential Financial Inc. increased its holdings in Preferred Bank by 13.0% in the fourth quarter. Prudential Financial Inc. now owns 14,387 shares of the bank's stock valued at $1,243,000 after buying an additional 1,650 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Preferred Bank during the 4th quarter valued at approximately $916,000. Finally, Sei Investments Co. boosted its stake in shares of Preferred Bank by 90.9% during the 4th quarter. Sei Investments Co. now owns 10,237 shares of the bank's stock worth $884,000 after acquiring an additional 4,875 shares in the last quarter. Hedge funds and other institutional investors own 72.77% of the company's stock.

Analysts Set New Price Targets

PFBC has been the subject of several research reports. DA Davidson lifted their price objective on Preferred Bank from $98.00 to $101.00 and gave the stock a "neutral" rating in a report on Wednesday, January 29th. Piper Sandler lifted their price target on Preferred Bank from $101.00 to $111.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Finally, Stephens reissued an "equal weight" rating and issued a $100.00 price objective on shares of Preferred Bank in a research note on Thursday, January 30th.

Preferred Bank Price Performance

Shares of NASDAQ:PFBC traded up $1.49 on Thursday, hitting $80.79. The company had a trading volume of 23,743 shares, compared to its average volume of 82,867. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.19. The company has a market cap of $1.17 billion, a PE ratio of 8.39 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 business has a 50 day moving average of $83.94 and a 200 day moving average of $86.59.

Preferred Bank (NASDAQ:PFBC - Get Free Report) last issued its quarterly earnings results 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%. As a group, equities analysts anticipate that Preferred Bank will post 9.81 earnings per share for the current fiscal year.

Preferred Bank Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Shareholders 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 3.71%. The ex-dividend date is Monday, April 7th. Preferred Bank's payout ratio is 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.