Jane Street Group LLC Boosts Stock Holdings in Preferred Bank (NASDAQ:PFBC)

Jane Street Group LLC grew its holdings in Preferred Bank (NASDAQ:PFBC - Free Report) by 84.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,699 shares of the bank's stock after acquiring an additional 16,820 shares during the period. Jane Street Group LLC owned about 0.25% of Preferred Bank worth $3,170,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of PFBC. Kennedy Capital Management LLC grew its stake 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 worth $7,793,000 after acquiring an additional 66,107 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Preferred Bank by 44.7% during the fourth quarter. American Century Companies Inc. now owns 199,628 shares of the bank's stock worth $17,244,000 after purchasing an additional 61,655 shares in the last quarter. Hsbc Holdings PLC grew its stake in shares of Preferred Bank by 11.9% during the fourth quarter. Hsbc Holdings PLC now owns 261,130 shares of the bank's stock worth $22,815,000 after purchasing an additional 27,760 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Preferred Bank by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 434,590 shares of the bank's stock worth $37,540,000 after purchasing an additional 18,868 shares in the last quarter. Finally, Boston Partners grew its stake in shares of Preferred Bank by 2.5% during the fourth quarter. Boston Partners now owns 530,029 shares of the bank's stock worth $45,806,000 after purchasing an additional 12,907 shares in the last quarter. Institutional investors and hedge funds own 72.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PFBC shares. DA Davidson lowered their target price on shares of Preferred Bank from $95.00 to $90.00 and set a "neutral" rating for the company in a research note on Monday, April 28th. Stephens reiterated 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, Piper Sandler lowered their target price on shares of Preferred Bank from $108.00 to $96.00 and set an "overweight" rating for the company in a research note on Tuesday, April 29th.

Preferred Bank Stock Performance

PFBC traded up $0.02 on Friday, reaching $85.31. The company had a trading volume of 105,038 shares, compared to its average volume of 87,071. Preferred Bank has a 1 year low of $71.43 and a 1 year high of $99.78. The stock has a market capitalization of $1.23 billion, a PE ratio of 8.86 and a beta of 0.69. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.19. The stock has a 50-day moving average price of $81.67 and a 200-day moving average price of $86.70.

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

Preferred Bank Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, April 7th were paid 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 3.52%. Preferred Bank's dividend payout ratio (DPR) is 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.