WINTON GROUP Ltd Raises Stock Position in Preferred Bank (NASDAQ:PFBC)

WINTON GROUP Ltd increased its position in shares of Preferred Bank (NASDAQ:PFBC) by 1.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,970 shares of the bank’s stock after acquiring an additional 232 shares during the period. WINTON GROUP Ltd owned approximately 0.10% of Preferred Bank worth $1,055,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of PFBC. CWM LLC increased its holdings in shares of Preferred Bank by 96.4% in the second quarter. CWM LLC now owns 1,043 shares of the bank’s stock worth $79,000 after purchasing an additional 512 shares during the period. SG Americas Securities LLC bought a new position in Preferred Bank in the 1st quarter worth about $118,000. Picton Mahoney Asset Management purchased a new stake in shares of Preferred Bank in the 2nd quarter valued at about $161,000. Olympiad Research LP bought a new stake in shares of Preferred Bank during the 4th quarter valued at about $240,000. Finally, BOKF NA purchased a new position in shares of Preferred Bank during the first quarter worth about $296,000. 72.77% of the stock is currently owned by hedge funds and other institutional investors.

Preferred Bank Price Performance

Shares of Preferred Bank stock opened at $79.78 on Monday. The firm has a market capitalization of $1.15 billion, a PE ratio of 7.70 and a beta of 0.96. 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 12 month low of $58.52 and a 12 month high of $91.67. The business’s 50-day moving average price is $80.23 and its 200-day moving average price is $76.93.

Preferred Bank (NASDAQ:PFBC) last announced its quarterly earnings data on Thursday, July 25th. The bank reported $2.48 earnings per share for the quarter, topping analysts’ consensus estimates of $2.39 by $0.09. Preferred Bank had a net margin of 27.35% and a return on equity of 20.24%. The firm had revenue of $130.70 million during the quarter, compared to analyst estimates of $70.55 million. During the same period in the previous year, the business posted $2.61 EPS. Sell-side analysts forecast that Preferred Bank will post 9.61 EPS for the current fiscal year.

Preferred Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Friday, July 5th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, July 5th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.51%. Preferred Bank’s dividend payout ratio (DPR) is currently 27.03%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PFBC. Stephens raised their target price on shares of Preferred Bank from $84.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Piper Sandler lifted their price objective on shares of Preferred Bank from $88.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, July 29th.

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.