Dimensional Fund Advisors LP Sells 9,848 Shares of Preferred Bank (NASDAQ:PFBC)

Dimensional Fund Advisors LP reduced its holdings in shares of Preferred Bank (NASDAQ:PFBC - Free Report) by 1.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 664,395 shares of the bank's stock after selling 9,848 shares during the quarter. Dimensional Fund Advisors LP owned 4.60% of Preferred Bank worth $57,391,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Boston Partners raised its holdings in shares of Preferred Bank by 2.5% in the 4th 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. Charles Schwab Investment Management Inc. increased its holdings 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 buying an additional 18,868 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Preferred Bank by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 360,025 shares of the bank's stock valued at $31,105,000 after acquiring an additional 7,428 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Preferred Bank by 44.7% during the 4th quarter. American Century Companies Inc. now owns 199,628 shares of the bank's stock worth $17,244,000 after acquiring an additional 61,655 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Preferred Bank by 1.7% during the fourth quarter. JPMorgan Chase & Co. now owns 189,196 shares of the bank's stock worth $16,343,000 after purchasing an additional 3,089 shares during the period. Institutional investors and hedge funds own 72.77% of the company's stock.

Analysts Set New Price Targets

PFBC has been the subject of several recent analyst reports. DA Davidson decreased their target price 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. Stephens reiterated an "equal weight" rating and set a $91.00 price objective on shares of Preferred Bank in a research report on Tuesday, April 29th. Finally, Piper Sandler reduced their target price on Preferred Bank from $108.00 to $96.00 and set an "overweight" rating for the company in a report on Tuesday, April 29th.

Preferred Bank Stock Down 0.2 %

Shares of NASDAQ PFBC traded down $0.18 during mid-day trading on Tuesday, reaching $82.07. The company had a trading volume of 74,199 shares, compared to its average volume of 84,065. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.08 and a current ratio of 1.08. Preferred Bank has a twelve month low of $71.43 and a twelve month high of $99.78. The stock's 50 day moving average is $81.94 and its 200-day moving average is $86.74. The stock has a market capitalization of $1.18 billion, a PE ratio of 8.52 and a beta of 0.69.

Preferred Bank (NASDAQ:PFBC - Get Free Report) last announced its quarterly 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 return on equity of 17.80% and a net margin of 25.00%. The company had revenue of $65.96 million during the quarter, compared to analyst estimates of $70.78 million. During the same period in the prior year, the firm earned $2.44 EPS. As a group, equities analysts anticipate that Preferred Bank will post 9.81 earnings per share for the current fiscal year.

Preferred Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 7th were issued a $0.75 dividend. The ex-dividend date was Monday, April 7th. This represents a $3.00 annualized dividend and a yield of 3.66%. Preferred Bank's dividend payout ratio (DPR) is presently 31.85%.

Preferred Bank 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.