Price T Rowe Associates Inc. MD Increases Stock Position in Preferred Bank (NASDAQ:PFBC)

Price T Rowe Associates Inc. MD increased its holdings in Preferred Bank (NASDAQ:PFBC - Free Report) by 13.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,257 shares of the bank's stock after acquiring an additional 3,852 shares during the period. Price T Rowe Associates Inc. MD owned about 0.23% of Preferred Bank worth $2,874,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Jump Financial LLC grew its holdings in shares of Preferred Bank by 2.1% in the fourth quarter. Jump Financial LLC now owns 9,148 shares of the bank's stock valued at $790,000 after acquiring an additional 185 shares in the last quarter. KBC Group NV grew its holdings in shares of Preferred Bank by 46.2% in the fourth quarter. KBC Group NV now owns 914 shares of the bank's stock valued at $79,000 after acquiring an additional 289 shares in the last quarter. Picton Mahoney Asset Management grew its holdings in Preferred Bank by 110.7% during the fourth quarter. Picton Mahoney Asset Management now owns 550 shares of the bank's stock valued at $47,000 after purchasing an additional 289 shares during the period. Exchange Traded Concepts LLC grew its holdings in Preferred Bank by 2.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 16,272 shares of the bank's stock valued at $1,406,000 after purchasing an additional 334 shares during the period. Finally, Sterling Capital Management LLC grew its holdings in Preferred Bank by 7.3% during the fourth quarter. Sterling Capital Management LLC now owns 5,219 shares of the bank's stock valued at $451,000 after purchasing an additional 354 shares during the period. 72.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. DA Davidson reduced their price objective on Preferred Bank from $95.00 to $90.00 and set a "neutral" rating for the company in a report on Monday, April 28th. Stephens reissued an "equal weight" rating and set a $91.00 price objective on shares of Preferred Bank in a report on Tuesday, April 29th. Finally, Piper Sandler reduced their price objective 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 Price Performance

Shares of PFBC stock traded down $0.43 on Friday, reaching $82.99. The company's stock had a trading volume of 67,514 shares, compared to its average volume of 85,482. The stock's 50 day simple moving average is $81.51 and its 200-day simple moving average is $86.69. Preferred Bank has a 12-month low of $71.43 and a 12-month high of $99.78. 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 company has a market capitalization of $1.20 billion, a P/E ratio of 8.62 and a beta of 0.69.

Preferred Bank (NASDAQ:PFBC - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The bank reported $2.23 EPS for the quarter, missing the consensus estimate of $2.33 by ($0.10). The company had revenue of $65.96 million during the quarter, compared to analysts' expectations of $70.78 million. Preferred Bank had a return on equity of 17.80% and a net margin of 25.00%. During the same quarter in the prior year, the firm posted $2.44 EPS. As a group, equities analysts predict that Preferred Bank will post 9.81 earnings per share for the current fiscal year.

Preferred Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, April 7th were given 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 yield of 3.61%. Preferred Bank's payout ratio is 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.