Stieven Capital Advisors L.P. Sells 12,600 Shares of Preferred Bank (NASDAQ:PFBC)

Stieven Capital Advisors L.P. decreased its holdings in Preferred Bank (NASDAQ:PFBC) by 6.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 177,435 shares of the bank’s stock after selling 12,600 shares during the period. Preferred Bank accounts for approximately 3.0% of Stieven Capital Advisors L.P.’s holdings, making the stock its 13th biggest holding. Stieven Capital Advisors L.P. owned 1.23% of Preferred Bank worth $13,395,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PFBC. LSV Asset Management bought a new position in shares of Preferred Bank in the 1st quarter valued at about $5,951,000. Kennedy Capital Management LLC purchased a new stake in Preferred Bank in the 1st quarter worth about $3,449,000. Trexquant Investment LP purchased a new stake in Preferred Bank in the 4th quarter worth about $942,000. Vanguard Group Inc. raised its position in Preferred Bank by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 868,073 shares of the bank’s stock worth $66,642,000 after purchasing an additional 10,931 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Preferred Bank by 1.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 667,256 shares of the bank’s stock worth $48,745,000 after purchasing an additional 10,259 shares during the period. Institutional investors own 72.77% of the company’s stock.

Preferred Bank Trading Up 1.0 %

Shares of Preferred Bank stock traded up $0.86 on Friday, hitting $82.85. 57,341 shares of the company traded hands, compared to its average volume of 55,744. The stock’s 50 day moving average price is $79.22 and its 200-day moving average price is $76.34. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.21. Preferred Bank has a 52 week low of $58.52 and a 52 week high of $91.67. The company has a market cap of $1.20 billion, a PE ratio of 8.00 and a beta of 0.97.

Preferred Bank (NASDAQ:PFBC) last posted its quarterly earnings results on Thursday, July 25th. The bank reported $2.48 earnings per share for the quarter, beating the consensus estimate of $2.39 by $0.09. The firm had revenue of $130.70 million during the quarter, compared to the consensus estimate of $70.55 million. Preferred Bank had a net margin of 27.35% and a return on equity of 20.24%. During the same quarter in the previous year, the firm posted $2.61 earnings per share. Equities research analysts predict that Preferred Bank will post 9.61 EPS for the current year.

Preferred Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Friday, July 5th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date of this dividend was Friday, July 5th. Preferred Bank’s dividend payout ratio (DPR) is 27.03%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PFBC. Piper Sandler increased their price objective on shares of Preferred Bank from $88.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Stephens increased their price objective on shares of Preferred Bank from $84.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 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 in the United States. 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.