T. Rowe Price Investment Management Inc. Boosts Stake in Preferred Bank (NASDAQ:PFBC)

T. Rowe Price Investment Management Inc. lifted its stake in Preferred Bank (NASDAQ:PFBC - Free Report) by 0.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,129,287 shares of the bank's stock after purchasing an additional 5,114 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 7.83% of Preferred Bank worth $97,548,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Boston Partners boosted its position in shares of Preferred Bank by 2.5% during the fourth quarter. Boston Partners now owns 530,029 shares of the bank's stock valued at $45,806,000 after buying an additional 12,907 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Preferred Bank by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 434,590 shares of the bank's stock valued at $37,540,000 after purchasing an additional 18,868 shares during the period. Geode Capital Management LLC increased its holdings in Preferred Bank by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 360,025 shares of the bank's stock worth $31,105,000 after acquiring an additional 7,428 shares in the last quarter. Hsbc Holdings PLC lifted its stake in shares of Preferred Bank by 11.9% during the 4th quarter. Hsbc Holdings PLC now owns 261,130 shares of the bank's stock valued at $22,815,000 after buying an additional 27,760 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of Preferred Bank by 44.7% in the fourth quarter. American Century Companies Inc. now owns 199,628 shares of the bank's stock worth $17,244,000 after acquiring an additional 61,655 shares during the period. 72.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Stephens reissued an "equal weight" rating and issued a $91.00 price objective on shares of Preferred Bank in a research note on Tuesday. DA Davidson dropped their price objective on shares of Preferred Bank from $95.00 to $90.00 and set a "neutral" rating on the stock in a research report on Monday. Finally, Piper Sandler lowered their price target on Preferred Bank from $108.00 to $96.00 and set an "overweight" rating for the company in a report on Tuesday.

Preferred Bank Stock Performance

Shares of Preferred Bank stock traded up $1.29 on Tuesday, reaching $80.93. 80,704 shares of the stock were exchanged, compared to its average volume of 84,134. 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 business has a fifty day moving average price of $82.62 and a two-hundred day moving average price of $86.83. The firm has a market capitalization of $1.17 billion, a PE ratio of 8.40 and a beta of 0.71. Preferred Bank has a 1-year low of $71.43 and a 1-year high of $99.78.

Preferred Bank (NASDAQ:PFBC - Get Free Report) last released its quarterly earnings results on Friday, April 25th. The bank reported $2.23 earnings per share for the quarter, missing analysts' consensus estimates of $2.33 by ($0.10). Preferred Bank had a return on equity of 17.80% and a net margin of 25.00%. The firm had revenue of $65.96 million during the quarter, compared to analyst estimates of $70.78 million. During the same quarter in the prior year, the company earned $2.44 EPS. As a group, research analysts anticipate that Preferred Bank will post 9.81 earnings per share for the current fiscal year.

Preferred Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 7th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 3.71%. The ex-dividend date of this dividend was Monday, April 7th. Preferred Bank's payout ratio is 31.85%.

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.