Preferred Bank (NASDAQ:PFBC) Shares Purchased by Sei Investments Co.

Sei Investments Co. increased its holdings in shares of Preferred Bank (NASDAQ:PFBC - Free Report) by 90.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,237 shares of the bank's stock after acquiring an additional 4,875 shares during the quarter. Sei Investments Co. owned about 0.07% of Preferred Bank worth $884,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Picton Mahoney Asset Management lifted its stake in Preferred Bank by 110.7% in the 4th quarter. Picton Mahoney Asset Management now owns 550 shares of the bank's stock worth $47,000 after purchasing an additional 289 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in Preferred Bank by 217.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 562 shares of the bank's stock worth $49,000 after buying an additional 385 shares in the last quarter. R Squared Ltd acquired a new position in Preferred Bank during the fourth quarter worth $65,000. KBC Group NV boosted its stake in Preferred Bank by 46.2% during the fourth quarter. KBC Group NV now owns 914 shares of the bank's stock worth $79,000 after buying an additional 289 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Preferred Bank in the 4th quarter worth $203,000. Hedge funds and other institutional investors own 72.77% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PFBC shares. Stephens reissued an "equal weight" rating and set a $100.00 price target on shares of Preferred Bank in a research report on Thursday, January 30th. Piper Sandler increased their price target 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, DA Davidson lifted their price target on shares of Preferred Bank from $98.00 to $101.00 and gave the company a "neutral" rating in a research report on Wednesday, January 29th.

Preferred Bank Trading Up 0.2 %

PFBC stock traded up $0.17 during mid-day trading on Friday, hitting $76.31. 98,256 shares of the company were exchanged, compared to its average volume of 82,502. Preferred Bank has a 12-month low of $70.99 and a 12-month high of $99.78. The firm has a market capitalization of $1.10 billion, a P/E ratio of 7.92 and a beta of 0.71. The business has a fifty day simple moving average of $84.73 and a 200-day simple moving average of $86.71. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.19.

Preferred Bank (NASDAQ:PFBC - Get Free Report) last posted its quarterly earnings data 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 return on equity of 17.80% and a net margin of 25.00%. On average, equities research analysts predict that Preferred Bank will post 9.81 earnings per share for the current fiscal year.

Preferred Bank Announces Dividend

The company 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 dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 3.93%. The ex-dividend date of this dividend 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.