Preferred Bank (NASDAQ:PFBC) Shares Purchased by Empowered Funds LLC

Empowered Funds LLC boosted its position in Preferred Bank (NASDAQ:PFBC) by 5.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 46,367 shares of the bank’s stock after buying an additional 2,278 shares during the period. Empowered Funds LLC owned approximately 0.32% of Preferred Bank worth $3,721,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Copeland Capital Management LLC purchased a new stake in shares of Preferred Bank in the 3rd quarter valued at $54,000. Point72 DIFC Ltd boosted its holdings in Preferred Bank by 69.9% in the second quarter. Point72 DIFC Ltd now owns 848 shares of the bank’s stock valued at $64,000 after purchasing an additional 349 shares during the last quarter. CWM LLC boosted its holdings in Preferred Bank by 96.4% in the second quarter. CWM LLC now owns 1,043 shares of the bank’s stock valued at $79,000 after purchasing an additional 512 shares during the last quarter. Point72 Asset Management L.P. grew its position in Preferred Bank by 35.1% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,486 shares of the bank’s stock worth $112,000 after purchasing an additional 386 shares during the period. Finally, SG Americas Securities LLC purchased a new position in shares of Preferred Bank during the 1st quarter valued at about $118,000. Institutional investors and hedge funds own 72.77% of the company’s stock.

Analyst Ratings Changes

PFBC has been the topic of a number of recent research reports. Stephens upped their target price on Preferred Bank from $90.00 to $94.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Piper Sandler upped their price objective on Preferred Bank from $88.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th.

Preferred Bank Stock Down 0.4 %

PFBC stock opened at $93.27 on Tuesday. Preferred Bank has a one year low of $61.24 and a one year high of $97.21. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.08 and a current ratio of 1.08. The firm’s fifty day moving average is $83.55 and its 200 day moving average is $80.01. The firm has a market cap of $1.35 billion, a PE ratio of 9.39 and a beta of 0.94.

Preferred Bank (NASDAQ:PFBC) last posted its earnings results on Monday, October 21st. The bank reported $2.46 EPS for the quarter, beating analysts’ consensus estimates of $2.39 by $0.07. The firm had revenue of $132.88 million for the quarter, compared to analysts’ expectations of $68.80 million. Preferred Bank had a return on equity of 19.01% and a net margin of 26.20%. During the same period last year, the firm earned $2.71 EPS. On average, research analysts forecast that Preferred Bank will post 9.75 EPS for the current year.

Preferred Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, October 7th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend was Monday, October 7th. Preferred Bank’s dividend payout ratio (DPR) is presently 28.06%.

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.