Cubist Systematic Strategies LLC Has $1.29 Million Stock Holdings in Preferred Bank (NASDAQ:PFBC)

Cubist Systematic Strategies LLC grew its holdings in Preferred Bank (NASDAQ:PFBC - Free Report) by 342.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 14,877 shares of the bank's stock after purchasing an additional 11,512 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.10% of Preferred Bank worth $1,285,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of PFBC. Barclays PLC grew its position in Preferred Bank by 70.9% during the 3rd quarter. Barclays PLC now owns 27,430 shares of the bank's stock worth $2,201,000 after acquiring an additional 11,379 shares during the last quarter. SG Americas Securities LLC grew its position in Preferred Bank by 59.6% during the 4th quarter. SG Americas Securities LLC now owns 5,845 shares of the bank's stock worth $505,000 after acquiring an additional 2,183 shares during the last quarter. Exchange Traded Concepts LLC grew its position in Preferred Bank by 2.1% during the 4th quarter. Exchange Traded Concepts LLC now owns 16,272 shares of the bank's stock worth $1,406,000 after acquiring an additional 334 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position 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 acquiring an additional 394 shares during the last quarter. Finally, KBC Group NV grew its position in Preferred Bank by 46.2% during the 4th quarter. KBC Group NV now owns 914 shares of the bank's stock worth $79,000 after acquiring an additional 289 shares during the last quarter. Institutional investors own 72.77% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PFBC shares. Stephens restated an "equal weight" rating and set a $91.00 price objective on shares of Preferred Bank in a research report on Tuesday, April 29th. Piper Sandler cut their target price on Preferred Bank from $108.00 to $96.00 and set an "overweight" rating on the stock in a report on Tuesday, April 29th. Finally, DA Davidson cut their target price on Preferred Bank from $95.00 to $90.00 and set a "neutral" rating on the stock in a report on Monday, April 28th.

Preferred Bank Trading Down 0.4%

PFBC traded down $0.30 during midday trading on Monday, hitting $85.01. 68,739 shares of the company were exchanged, compared to its average volume of 87,157. The firm has a market capitalization of $1.23 billion, a P/E ratio of 8.83 and a beta of 0.69. Preferred Bank has a 1-year low of $71.43 and a 1-year high of $99.78. The firm's 50 day moving average price is $81.84 and its 200-day moving average price is $86.74. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.19.

Preferred Bank (NASDAQ:PFBC - Get Free Report) last announced 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 analyst estimates of $70.78 million. Preferred Bank had a return on equity of 17.80% and a net margin of 25.00%. During the same period in the previous year, the firm posted $2.44 earnings per share. As a group, equities analysts forecast that Preferred Bank will post 9.81 EPS for the current fiscal year.

Preferred Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, April 7th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date of this dividend was Monday, April 7th. Preferred Bank's dividend payout ratio is 31.85%.

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.