Preferred Bank (NASDAQ:PFBC) Shares Sold by Boston Partners

Boston Partners lowered its stake in Preferred Bank (NASDAQ:PFBC - Free Report) by 4.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 465,650 shares of the bank's stock after selling 19,248 shares during the quarter. Boston Partners owned 3.23% of Preferred Bank worth $34,034,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PFBC. SummerHaven Investment Management LLC increased its stake in shares of Preferred Bank by 1.2% during the fourth quarter. SummerHaven Investment Management LLC now owns 12,516 shares of the bank's stock valued at $914,000 after buying an additional 147 shares during the period. Yousif Capital Management LLC increased its stake 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 valued at $445,000 after buying an additional 200 shares during the period. Federated Hermes Inc. grew its stake in Preferred Bank by 0.8% in the fourth quarter. Federated Hermes Inc. now owns 29,965 shares of the bank's stock worth $2,189,000 after purchasing an additional 226 shares during the period. Alps Advisors Inc. grew its stake in Preferred Bank by 6.0% in the third quarter. Alps Advisors Inc. now owns 5,408 shares of the bank's stock worth $337,000 after purchasing an additional 306 shares during the period. Finally, Gladius Capital Management LP grew its stake in Preferred Bank by 518.1% in the fourth quarter. Gladius Capital Management LP now owns 445 shares of the bank's stock worth $33,000 after purchasing an additional 373 shares during the period. Institutional investors own 72.77% of the company's stock.

Preferred Bank Stock Up 0.7 %

PFBC stock traded up $0.56 during midday trading on Wednesday, hitting $79.72. The stock had a trading volume of 85,279 shares, compared to its average volume of 89,714. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 7.69 and a beta of 1.02. The business has a 50-day moving average of $75.45 and a two-hundred day moving average of $71.45. Preferred Bank has a 52-week low of $44.75 and a 52-week high of $80.50. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.07 and a quick ratio of 1.07.

Preferred Bank (NASDAQ:PFBC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 23rd. The bank reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.04. The company had revenue of $71.57 million for the quarter, compared to analysts' expectations of $68.60 million. Preferred Bank had a return on equity of 21.28% and a net margin of 28.70%. As a group, equities research analysts forecast that Preferred Bank will post 9.69 earnings per share for the current fiscal year.

Preferred Bank Announces Dividend

The company also recently declared 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 of this dividend was Thursday, April 4th. This represents a $2.80 annualized dividend and a yield of 3.51%. Preferred Bank's payout ratio is 27.03%.

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 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.