AQR Capital Management LLC decreased its stake in shares of Preferred Bank (NASDAQ:PFBC - Free Report) by 9.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,775 shares of the bank's stock after selling 9,087 shares during the quarter. AQR Capital Management LLC owned approximately 0.62% of Preferred Bank worth $7,668,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Picton Mahoney Asset Management grew its stake in Preferred Bank by 110.7% in the fourth quarter. Picton Mahoney Asset Management now owns 550 shares of the bank's stock valued at $47,000 after purchasing an additional 289 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in Preferred Bank by 217.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 562 shares of the bank's stock valued at $49,000 after acquiring an additional 385 shares during the last quarter. R Squared Ltd purchased a new position in Preferred Bank in the fourth quarter worth $65,000. KBC Group NV increased its position in shares of Preferred Bank by 46.2% during the fourth quarter. KBC Group NV now owns 914 shares of the bank's stock worth $79,000 after purchasing an additional 289 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Preferred Bank in the 4th quarter worth $203,000. Institutional investors own 72.77% of the company's stock.
Preferred Bank Stock Down 0.5 %
NASDAQ:PFBC traded down $0.43 during trading hours on Friday, hitting $82.99. The company's stock had a trading volume of 67,514 shares, compared to its average volume of 85,482. The stock has a fifty day moving average of $81.51 and a 200-day moving average of $86.68. The stock has a market capitalization of $1.20 billion, a P/E ratio of 8.62 and a beta of 0.69. Preferred Bank has a 52-week low of $71.43 and a 52-week high of $99.78. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.19.
Preferred Bank (NASDAQ:PFBC - Get Free Report) last announced its quarterly earnings data on Friday, April 25th. The bank reported $2.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.33 by ($0.10). The firm had revenue of $65.96 million during the quarter, compared to analyst estimates of $70.78 million. Preferred Bank had a net margin of 25.00% and a return on equity of 17.80%. During the same period in the prior year, the firm posted $2.44 earnings per share. On average, equities analysts forecast that Preferred Bank will post 9.81 earnings per share for the current year.
Preferred Bank Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 7th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Monday, April 7th. This represents a $3.00 annualized dividend and a dividend yield of 3.61%. Preferred Bank's dividend payout ratio is currently 31.85%.
Analyst Ratings Changes
A number of research firms have issued reports on PFBC. Piper Sandler decreased their price target on shares of Preferred Bank from $108.00 to $96.00 and set an "overweight" rating for the company in a report on Tuesday, April 29th. Stephens reissued an "equal weight" rating and issued a $91.00 price target on shares of Preferred Bank in a report on Tuesday, April 29th. Finally, DA Davidson lowered their price target on shares of Preferred Bank from $95.00 to $90.00 and set a "neutral" rating on the stock in a research report on Monday, April 28th.
Check Out Our Latest Analysis on Preferred Bank
About Preferred Bank
(
Free Report)
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.
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