Universal Beteiligungs und Servicegesellschaft mbH Takes $1.25 Million Position in Preferred Bank (NASDAQ:PFBC)

Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Preferred Bank (NASDAQ:PFBC - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 14,421 shares of the bank's stock, valued at approximately $1,246,000. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.10% of Preferred Bank as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Jefferies Financial Group Inc. acquired a new position in Preferred Bank during the fourth quarter worth approximately $1,407,000. Squarepoint Ops LLC increased its position in Preferred Bank by 31.5% during the fourth quarter. Squarepoint Ops LLC now owns 21,261 shares of the bank's stock worth $1,837,000 after buying an additional 5,098 shares during the last quarter. Nuveen Asset Management LLC increased its position in Preferred Bank by 0.3% during the fourth quarter. Nuveen Asset Management LLC now owns 468,759 shares of the bank's stock worth $40,491,000 after buying an additional 1,443 shares during the last quarter. Millennium Management LLC increased its position in Preferred Bank by 28.8% during the fourth quarter. Millennium Management LLC now owns 147,702 shares of the bank's stock worth $12,758,000 after buying an additional 32,990 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Preferred Bank by 3.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,064 shares of the bank's stock worth $610,000 after buying an additional 257 shares during the last quarter. Institutional investors and hedge funds own 72.77% of the company's stock.

Preferred Bank Trading Up 1.7%

NASDAQ:PFBC traded up $1.43 during trading hours on Friday, hitting $84.09. 53,280 shares of the company were exchanged, compared to its average volume of 87,681. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of 8.73 and a beta of 0.70. 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 has a one year low of $71.43 and a one year high of $99.78. The company has a fifty day simple moving average of $81.70 and a 200 day simple moving average of $85.96.

Preferred Bank (NASDAQ:PFBC - Get Free Report) last announced its earnings results 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 company had revenue of $65.96 million for the quarter, compared to the consensus estimate 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 prior year, the business earned $2.44 earnings per share. Sell-side analysts expect that Preferred Bank will post 9.81 EPS for the current fiscal year.

Preferred Bank declared that its board has authorized a stock buyback program on Thursday, May 22nd that allows the company to repurchase $125.00 million in shares. This repurchase authorization allows the bank to purchase up to 10.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its stock is undervalued.

Preferred Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, April 7th were given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.57%. The ex-dividend date was Monday, April 7th. Preferred Bank's dividend payout ratio (DPR) is presently 31.85%.

Analysts Set New Price Targets

PFBC has been the topic of a number of recent analyst reports. Piper Sandler lowered their price target on Preferred Bank from $108.00 to $96.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 29th. Stephens restated an "equal weight" rating and set a $91.00 target price on shares of Preferred Bank in a research note 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 for the company in a report on Monday, April 28th.

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.