Hsbc Holdings PLC Acquires 27,760 Shares of Preferred Bank (NASDAQ:PFBC)

Hsbc Holdings PLC boosted its stake in shares of Preferred Bank (NASDAQ:PFBC - Free Report) by 11.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 261,130 shares of the bank's stock after purchasing an additional 27,760 shares during the period. Hsbc Holdings PLC owned 1.81% of Preferred Bank worth $22,815,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Kennedy Capital Management LLC lifted its position in shares of Preferred Bank by 274.2% in the fourth quarter. Kennedy Capital Management LLC now owns 90,218 shares of the bank's stock valued at $7,793,000 after buying an additional 66,107 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Preferred Bank by 44.7% in the fourth quarter. American Century Companies Inc. now owns 199,628 shares of the bank's stock valued at $17,244,000 after purchasing an additional 61,655 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Preferred Bank by 24.0% in the third quarter. JPMorgan Chase & Co. now owns 186,107 shares of the bank's stock valued at $14,935,000 after purchasing an additional 35,979 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Preferred Bank by 4.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 434,590 shares of the bank's stock valued at $37,540,000 after purchasing an additional 18,868 shares during the period. Finally, Boston Partners boosted its holdings in shares of Preferred Bank by 2.5% during the 4th quarter. Boston Partners now owns 530,029 shares of the bank's stock worth $45,806,000 after buying an additional 12,907 shares during the period. Institutional investors and hedge funds own 72.77% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on PFBC shares. Piper Sandler lowered their price target on shares of Preferred Bank from $108.00 to $96.00 and set an "overweight" rating on the stock in a report on Tuesday. Stephens restated an "equal weight" rating and issued a $91.00 price target on shares of Preferred Bank in a research note on Tuesday. Finally, DA Davidson lowered their price objective on Preferred Bank from $95.00 to $90.00 and set a "neutral" rating on the stock in a research report on Monday.

Preferred Bank Price Performance

Shares of NASDAQ PFBC traded up $1.83 during midday trading on Friday, reaching $82.25. The company's stock had a trading volume of 16,490 shares, compared to its average volume of 84,064. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.08 and a current ratio of 1.08. The company has a market cap of $1.19 billion, a P/E ratio of 8.55 and a beta of 0.71. The business's 50 day moving average price is $82.15 and its two-hundred day moving average price is $86.73. Preferred Bank has a fifty-two week low of $71.43 and a fifty-two week high of $99.78.

Preferred Bank (NASDAQ:PFBC - Get Free Report) last released its earnings results on Friday, April 25th. The bank reported $2.23 earnings per share for the quarter, missing analysts' consensus estimates of $2.33 by ($0.10). Preferred Bank had a net margin of 25.00% and a return on equity of 17.80%. The company had revenue of $65.96 million for the quarter, compared to the consensus estimate of $70.78 million. During the same quarter in the previous year, the company posted $2.44 earnings per share. On average, analysts forecast that Preferred Bank will post 9.81 EPS for the current fiscal year.

Preferred Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, April 7th were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 3.65%. The ex-dividend date of this dividend was Monday, April 7th. Preferred Bank's dividend payout ratio is currently 31.85%.

About Preferred Bank

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.