Preferred Bank (NASDAQ:PFBC) Holdings Lowered by Bridgeway Capital Management LLC

Bridgeway Capital Management LLC decreased its holdings in Preferred Bank (NASDAQ:PFBC - Free Report) by 11.9% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 59,198 shares of the bank's stock after selling 8,002 shares during the period. Bridgeway Capital Management LLC owned approximately 0.41% of Preferred Bank worth $5,114,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Barclays PLC grew its position in Preferred Bank by 70.9% in the third quarter. Barclays PLC now owns 27,430 shares of the bank's stock valued at $2,201,000 after acquiring an additional 11,379 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Preferred Bank by 24.0% during the third quarter. JPMorgan Chase & Co. now owns 186,107 shares of the bank's stock worth $14,935,000 after acquiring an additional 35,979 shares during the last quarter. SG Americas Securities LLC boosted its holdings in Preferred Bank by 59.6% in the fourth quarter. SG Americas Securities LLC now owns 5,845 shares of the bank's stock valued at $505,000 after purchasing an additional 2,183 shares during the last quarter. Exchange Traded Concepts LLC grew its stake in Preferred Bank by 2.1% during the 4th quarter. Exchange Traded Concepts LLC now owns 16,272 shares of the bank's stock valued at $1,406,000 after purchasing an additional 334 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in Preferred Bank by 12.7% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 3,498 shares of the bank's stock worth $302,000 after purchasing an additional 394 shares during the last quarter. 72.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PFBC has been the subject of several recent analyst reports. Stephens reissued an "equal weight" rating and set a $91.00 price objective on shares of Preferred Bank in a report on Tuesday, April 29th. Piper Sandler cut their price objective on Preferred Bank from $108.00 to $96.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 29th. Finally, DA Davidson decreased their target price on Preferred Bank from $95.00 to $90.00 and set a "neutral" rating for the company in a research report on Monday, April 28th.

Preferred Bank Stock Performance

Shares of NASDAQ PFBC traded down $0.59 during midday trading on Tuesday, hitting $84.92. The company's stock had a trading volume of 31,096 shares, compared to its average volume of 85,431. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.08 and a current ratio of 1.08. Preferred Bank has a 1-year low of $71.43 and a 1-year high of $99.78. The firm's fifty day moving average price is $81.52 and its 200-day moving average price is $86.72. The firm has a market cap of $1.23 billion, a P/E ratio of 8.82 and a beta of 0.69.

Preferred Bank (NASDAQ:PFBC - Get Free Report) last posted its earnings results on Friday, April 25th. The bank reported $2.23 EPS for the quarter, missing the consensus estimate of $2.33 by ($0.10). The company had revenue of $65.96 million for the quarter, compared to the consensus estimate 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 last year, the company posted $2.44 earnings per share. On average, sell-side analysts forecast that Preferred Bank will post 9.81 EPS for the current fiscal 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 paid a dividend of $0.75 per share. The ex-dividend date was Monday, April 7th. This represents a $3.00 dividend on an annualized basis and a yield of 3.53%. Preferred Bank's payout ratio is currently 31.85%.

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. 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.