Price T Rowe Associates Inc. MD Boosts Stake in Preferred Bank (NASDAQ:PFBC)

Price T Rowe Associates Inc. MD raised its holdings in Preferred Bank (NASDAQ:PFBC - Free Report) by 13.1% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 33,257 shares of the bank's stock after acquiring an additional 3,852 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.23% of Preferred Bank worth $2,874,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Dark Forest Capital Management LP increased its stake in Preferred Bank by 16.8% in the 4th quarter. Dark Forest Capital Management LP now owns 3,384 shares of the bank's stock worth $292,000 after buying an additional 487 shares during the period. Hsbc Holdings PLC raised 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 valued at $22,815,000 after acquiring an additional 27,760 shares in the last quarter. State of Tennessee Department of Treasury grew its stake in Preferred Bank by 145.5% in the fourth quarter. State of Tennessee Department of Treasury now owns 8,349 shares of the bank's stock worth $721,000 after purchasing an additional 4,948 shares in the last quarter. Jump Financial LLC increased its holdings in Preferred Bank by 2.1% during the 4th quarter. Jump Financial LLC now owns 9,148 shares of the bank's stock worth $790,000 after purchasing an additional 185 shares during the period. Finally, XTX Topco Ltd raised its position in Preferred Bank by 43.6% during the 4th quarter. XTX Topco Ltd now owns 8,063 shares of the bank's stock valued at $696,000 after purchasing an additional 2,447 shares in the last quarter. Hedge funds and other institutional investors own 72.77% of the company's stock.

Preferred Bank Stock Down 0.5 %

PFBC stock traded down $0.43 during trading on Friday, reaching $82.99. 67,514 shares of the company traded hands, compared to its average volume of 85,482. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 8.62 and a beta of 0.69. 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 business has a 50 day simple moving average of $81.51 and a 200 day simple moving average of $86.68. Preferred Bank has a 12 month low of $71.43 and a 12 month high of $99.78.

Preferred Bank (NASDAQ:PFBC - Get Free Report) last released 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). The firm had revenue of $65.96 million during the quarter, compared to the consensus estimate of $70.78 million. Preferred Bank had a net margin of 25.00% and a return on equity of 17.80%. During the same quarter in the prior year, the business posted $2.44 earnings per share. On average, equities research analysts anticipate that Preferred Bank will post 9.81 earnings per share for the current fiscal year.

Preferred Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, April 7th were issued 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 3.61%. Preferred Bank's dividend payout ratio is presently 31.85%.

Wall Street Analysts Forecast Growth

PFBC has been the topic of a number of recent research reports. DA Davidson dropped their price target on Preferred Bank from $95.00 to $90.00 and set a "neutral" rating on the stock in a research report on Monday, April 28th. Stephens reissued an "equal weight" rating and set a $91.00 target price on shares of Preferred Bank in a research report on Tuesday, April 29th. Finally, Piper Sandler lowered their price target on shares of Preferred Bank from $108.00 to $96.00 and set an "overweight" rating for the company in a research report on Tuesday, April 29th.

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.