Illinois Municipal Retirement Fund Has $578,000 Stake in Preferred Bank (NASDAQ:PFBC)

Illinois Municipal Retirement Fund trimmed its holdings in shares of Preferred Bank (NASDAQ:PFBC) by 2.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,690 shares of the bank’s stock after selling 194 shares during the period. Illinois Municipal Retirement Fund’s holdings in Preferred Bank were worth $578,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its holdings in Preferred Bank by 24.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 186,107 shares of the bank’s stock valued at $14,935,000 after purchasing an additional 35,979 shares in the last quarter. Jane Street Group LLC increased its holdings in Preferred Bank by 43.8% during the 3rd quarter. Jane Street Group LLC now owns 19,879 shares of the bank’s stock valued at $1,595,000 after purchasing an additional 6,056 shares in the last quarter. KBC Group NV increased its holdings in Preferred Bank by 46.2% during the 4th quarter. KBC Group NV now owns 914 shares of the bank’s stock valued at $79,000 after purchasing an additional 289 shares in the last quarter. Geode Capital Management LLC increased its holdings in Preferred Bank by 3.6% during the 3rd quarter. Geode Capital Management LLC now owns 352,597 shares of the bank’s stock valued at $28,300,000 after purchasing an additional 12,283 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Preferred Bank by 1.7% in the 3rd 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 during the period. 72.77% of the stock is owned by institutional investors and hedge funds.

Preferred Bank Stock Down 0.8 %

NASDAQ:PFBC opened at $88.07 on Tuesday. Preferred Bank has a 12-month low of $70.22 and a 12-month high of $99.78. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $1.27 billion, a P/E ratio of 9.15 and a beta of 0.97. The stock’s fifty day simple moving average is $87.92 and its 200-day simple moving average is $86.41.

Preferred Bank (NASDAQ:PFBC) last posted its quarterly earnings results on Monday, January 27th. The bank reported $2.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.17). Preferred Bank had a return on equity of 17.80% and a net margin of 25.00%. Equities research analysts expect that Preferred Bank will post 9.81 earnings per share for the current year.

Preferred Bank Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 23rd. Stockholders of record on Thursday, January 9th were given a $0.75 dividend. This is a positive change from Preferred Bank’s previous quarterly dividend of $0.70. This represents a $3.00 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend was Friday, January 10th. Preferred Bank’s dividend payout ratio (DPR) is currently 31.15%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Piper Sandler lifted their target price on Preferred Bank from $101.00 to $111.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. DA Davidson lifted their target price on Preferred Bank from $98.00 to $101.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Finally, Stephens reissued 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 Company 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.