Thomson Horstmann & Bryant Inc. reduced its position in shares of Preferred Bank (NASDAQ:PFBC) by 3.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 74,005 shares of the bank’s stock after selling 2,493 shares during the period. Thomson Horstmann & Bryant Inc. owned approximately 0.56% of Preferred Bank worth $3,957,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the stock. Nuveen Asset Management LLC boosted its position in Preferred Bank by 52.5% in the first quarter. Nuveen Asset Management LLC now owns 530,245 shares of the bank’s stock worth $28,453,000 after buying an additional 182,564 shares during the last quarter. Vanguard Group Inc. boosted its position in Preferred Bank by 10.2% in the first quarter. Vanguard Group Inc. now owns 522,054 shares of the bank’s stock worth $28,013,000 after buying an additional 48,266 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Preferred Bank by 7.0% in the first quarter. Dimensional Fund Advisors LP now owns 474,744 shares of the bank’s stock worth $25,475,000 after buying an additional 30,981 shares during the last quarter. Renaissance Technologies LLC boosted its position in Preferred Bank by 6.0% in the first quarter. Renaissance Technologies LLC now owns 347,055 shares of the bank’s stock worth $18,623,000 after buying an additional 19,600 shares during the last quarter. Finally, State Street Corp boosted its position in Preferred Bank by 6.9% in the fourth quarter. State Street Corp now owns 238,287 shares of the bank’s stock worth $12,494,000 after buying an additional 15,467 shares during the last quarter. 75.19% of the stock is owned by institutional investors.
Shares of Preferred Bank (NASDAQ:PFBC) opened at 53.31 on Friday. The firm has a market cap of $764.89 million, a price-to-earnings ratio of 18.31 and a beta of 0.97. Preferred Bank has a 52 week low of $33.45 and a 52 week high of $58.98. The firm has a 50 day moving average of $55.32 and a 200 day moving average of $53.72.
Preferred Bank (NASDAQ:PFBC) last announced its earnings results on Tuesday, July 18th. The bank reported $0.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.05. Preferred Bank had a net margin of 28.91% and a return on equity of 14.18%. The company had revenue of $32.55 million during the quarter, compared to the consensus estimate of $31.78 million. Equities analysts predict that Preferred Bank will post $3.21 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, July 21st. Shareholders of record on Friday, July 7th were paid a $0.20 dividend. The ex-dividend date was Wednesday, July 5th. This is an increase from Preferred Bank’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.50%. Preferred Bank’s payout ratio is currently 27.49%.
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Several equities analysts have recently commented on PFBC shares. FBR & Co reaffirmed a “buy” rating on shares of Preferred Bank in a research report on Thursday, April 20th. BidaskClub cut shares of Preferred Bank from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Zacks Investment Research raised shares of Preferred Bank from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a research report on Saturday, June 24th. ValuEngine raised shares of Preferred Bank from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, Stephens upgraded shares of Preferred Bank from an “equal weight” rating to an “overweight” rating in a research note on Monday, July 10th. One equities research analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Preferred Bank has an average rating of “Buy” and an average target price of $45.33.
About Preferred Bank
Preferred Bank is a commercial bank. The Bank provides deposit services, as well as real estate finance, commercial loans and trade finance to small and mid-sized businesses and their owners, entrepreneurs, real estate developers and investors, professionals and high net worth individuals. The Bank offers various services, such as personal banking, business banking and treasury management.
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