Victory Capital Management Inc. Has $205,000 Holdings in Preferred Bank (NASDAQ:PFBC)

Victory Capital Management Inc. trimmed its stake in Preferred Bank (NASDAQ:PFBC - Free Report) by 88.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,372 shares of the bank's stock after selling 18,152 shares during the quarter. Victory Capital Management Inc.'s holdings in Preferred Bank were worth $205,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. grew its position in Preferred Bank by 98.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 17,466 shares of the bank's stock worth $1,402,000 after purchasing an additional 8,654 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Preferred Bank by 194.1% during the third quarter. Advisors Asset Management Inc. now owns 1,906 shares of the bank's stock valued at $153,000 after buying an additional 1,258 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Preferred Bank by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 415,722 shares of the bank's stock valued at $33,362,000 after buying an additional 7,086 shares in the last quarter. Quantbot Technologies LP raised its position in Preferred Bank by 169.6% during the third quarter. Quantbot Technologies LP now owns 8,102 shares of the bank's stock valued at $650,000 after buying an additional 5,097 shares during the period. Finally, FMR LLC lifted its stake in Preferred Bank by 4.2% in the 3rd quarter. FMR LLC now owns 6,674 shares of the bank's stock worth $536,000 after acquiring an additional 271 shares in the last quarter. 72.77% of the stock is owned by institutional investors and hedge funds.

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Analyst Ratings Changes

A number of research firms have recently weighed in on PFBC. DA Davidson raised their price target on Preferred Bank from $98.00 to $101.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 29th. Stephens reaffirmed an "equal weight" rating and set a $100.00 price objective on shares of Preferred Bank in a research report on Thursday, January 30th. Finally, Piper Sandler boosted their target price on shares of Preferred Bank from $101.00 to $111.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st.

Preferred Bank Stock Down 0.3 %

Shares of NASDAQ PFBC traded down $0.22 during mid-day trading on Thursday, reaching $85.43. 51,613 shares of the company traded hands, compared to its average volume of 75,802. The company's fifty day moving average is $87.18 and its two-hundred day moving average is $86.75. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.08 and a current ratio of 1.08. Preferred Bank has a fifty-two week low of $70.99 and a fifty-two week high of $99.78. The stock has a market cap of $1.23 billion, a PE ratio of 8.87 and a beta of 0.93.

Preferred Bank (NASDAQ:PFBC - Get Free Report) last announced its quarterly earnings results on Monday, January 27th. The bank reported $2.25 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.17). Preferred Bank had a net margin of 25.00% and a return on equity of 17.80%. On average, analysts expect that Preferred Bank will post 9.81 earnings per share for the current 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 issued a $0.75 dividend. The ex-dividend date is Monday, April 7th. This represents a $3.00 annualized dividend and a yield of 3.51%. Preferred Bank's dividend payout ratio (DPR) is presently 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.