Preferred Bank (NASDAQ:PFBC) Sets New 52-Week High at $77.93

Preferred Bank (NASDAQ:PFBC - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $77.93 and last traded at $77.50, with a volume of 24330 shares. The stock had previously closed at $74.84.

Preferred Bank Stock Up 2.8 %

The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 7.31 and a beta of 1.04. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.07 and a current ratio of 1.07. The business's 50 day moving average is $73.48 and its 200-day moving average is $69.70.

Preferred Bank (NASDAQ:PFBC - Get Free Report) last posted its quarterly earnings data on Thursday, January 25th. The bank reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.06. Preferred Bank had a return on equity of 22.30% and a net margin of 30.93%. The company had revenue of $127.07 million during the quarter, compared to analysts' expectations of $72.84 million. During the same period in the prior year, the business earned $2.71 earnings per share. Equities analysts anticipate that Preferred Bank will post 9.13 EPS for the current fiscal year.

Preferred Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Friday, April 5th were paid a $0.70 dividend. The ex-dividend date was Thursday, April 4th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.64%. Preferred Bank's payout ratio is 26.59%.

Institutional Trading of Preferred Bank

A number of large investors have recently bought and sold shares of PFBC. SummerHaven Investment Management LLC boosted its holdings in shares of Preferred Bank by 1.2% in the 4th quarter. SummerHaven Investment Management LLC now owns 12,516 shares of the bank's stock worth $914,000 after acquiring an additional 147 shares in the last quarter. Yousif Capital Management LLC grew its holdings in shares of Preferred Bank by 2.9% during the third quarter. Yousif Capital Management LLC now owns 7,149 shares of the bank's stock worth $445,000 after purchasing an additional 200 shares during the last quarter. Federated Hermes Inc. increased its stake in shares of Preferred Bank by 0.8% in the fourth quarter. Federated Hermes Inc. now owns 29,965 shares of the bank's stock valued at $2,189,000 after buying an additional 226 shares in the last quarter. Alps Advisors Inc. raised its holdings in shares of Preferred Bank by 6.0% in the third quarter. Alps Advisors Inc. now owns 5,408 shares of the bank's stock valued at $337,000 after buying an additional 306 shares during the last quarter. Finally, Gladius Capital Management LP increased its position in Preferred Bank by 518.1% in the 4th quarter. Gladius Capital Management LP now owns 445 shares of the bank's stock valued at $33,000 after acquiring an additional 373 shares in the last quarter. 72.77% of the stock is currently owned by institutional investors.

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 in the United States. 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.