Stieven Capital Advisors L.P. Trims Stake in Preferred Bank (NASDAQ:PFBC)

Stieven Capital Advisors L.P. lowered its holdings in shares of Preferred Bank (NASDAQ:PFBC - Free Report) by 5.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,721 shares of the bank's stock after selling 6,900 shares during the period. Stieven Capital Advisors L.P. owned approximately 0.77% of Preferred Bank worth $9,564,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of PFBC. Copeland Capital Management LLC bought a new stake in Preferred Bank during the third quarter worth about $54,000. R Squared Ltd bought a new stake in Preferred Bank during the fourth quarter worth about $65,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Preferred Bank in the third quarter worth approximately $76,000. KBC Group NV lifted its stake in shares of Preferred Bank by 46.2% in the fourth quarter. KBC Group NV now owns 914 shares of the bank's stock worth $79,000 after buying an additional 289 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its stake in shares of 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 buying an additional 1,258 shares in the last quarter. Institutional investors own 72.77% of the company's stock.

Analyst Ratings Changes

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

Preferred Bank Stock Performance

Preferred Bank stock traded down $0.42 during midday trading on Wednesday, reaching $90.10. 48,498 shares of the company traded hands, compared to its average volume of 81,169. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 9.36 and a beta of 0.97. The business has a 50 day moving average of $88.23 and a two-hundred day moving average of $85.59. Preferred Bank has a 12 month low of $69.69 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.

Preferred Bank (NASDAQ:PFBC - Get Free Report) last issued 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 net margin of 25.00% and a return on equity of 17.80%. As a group, research analysts predict that Preferred Bank will post 9.81 earnings per share for the current year.

Preferred Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 23rd. Investors of record on Thursday, January 9th were given a dividend of $0.75 per share. This is an increase from Preferred Bank's previous quarterly dividend of $0.70. The ex-dividend date was Friday, January 10th. This represents a $3.00 dividend on an annualized basis and a yield of 3.33%. Preferred Bank's dividend payout ratio is 31.15%.

Preferred Bank Profile

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.