Quest Partners LLC Has $653,000 Stake in Preferred Bank (NASDAQ:PFBC)

Quest Partners LLC boosted its holdings in Preferred Bank (NASDAQ:PFBC - Free Report) by 1,376.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,137 shares of the bank's stock after buying an additional 7,586 shares during the period. Quest Partners LLC owned approximately 0.06% of Preferred Bank worth $653,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. SummerHaven Investment Management LLC boosted its holdings in Preferred Bank by 1.6% during the second quarter. SummerHaven Investment Management LLC now owns 12,846 shares of the bank's stock worth $970,000 after buying an additional 201 shares during the last quarter. WINTON GROUP Ltd boosted its position in shares of Preferred Bank by 1.7% during the second quarter. WINTON GROUP Ltd now owns 13,970 shares of the bank's stock worth $1,055,000 after purchasing an additional 232 shares in the last quarter. Federated Hermes Inc. grew its holdings in shares of Preferred Bank by 0.9% in the 2nd quarter. Federated Hermes Inc. now owns 30,228 shares of the bank's stock valued at $2,282,000 after buying an additional 274 shares during the period. Sei Investments Co. increased its position in shares of Preferred Bank by 6.7% in the 2nd quarter. Sei Investments Co. now owns 5,137 shares of the bank's stock valued at $388,000 after buying an additional 323 shares in the last quarter. Finally, Point72 DIFC Ltd raised its stake in Preferred Bank by 69.9% during the 2nd quarter. Point72 DIFC Ltd now owns 848 shares of the bank's stock worth $64,000 after buying an additional 349 shares during the period. 72.77% of the stock is owned by institutional investors.

Preferred Bank Price Performance

NASDAQ PFBC opened at $95.67 on Friday. The firm's 50 day moving average is $84.76 and its 200-day moving average is $80.40. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $1.38 billion, a PE ratio of 9.59 and a beta of 0.94. Preferred Bank has a 12-month low of $61.24 and a 12-month high of $97.21.

Preferred Bank (NASDAQ:PFBC - Get Free Report) last released its earnings results on Monday, October 21st. The bank reported $2.46 earnings per share for the quarter, beating analysts' consensus estimates of $2.39 by $0.07. Preferred Bank had a net margin of 26.20% and a return on equity of 19.01%. The business had revenue of $132.88 million during the quarter, compared to the consensus estimate of $68.80 million. During the same quarter last year, the firm earned $2.71 earnings per share. Equities research analysts anticipate that Preferred Bank will post 9.75 earnings per share for the current fiscal year.

Preferred Bank Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Monday, October 7th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date was Monday, October 7th. Preferred Bank's dividend payout ratio is currently 28.06%.

Wall Street Analysts Forecast Growth

PFBC has been the subject of several recent analyst reports. Stephens increased their price target on Preferred Bank from $90.00 to $94.00 and gave the stock an "overweight" rating in a report on Tuesday, October 22nd. Piper Sandler increased their target price on Preferred Bank from $88.00 to $105.00 and gave the stock an "overweight" rating in a report on Monday, July 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.