Tudor Investment Corp ET AL Trims Stock Position in Preferred Bank (NASDAQ:PFBC)

Tudor Investment Corp ET AL lessened its holdings in Preferred Bank (NASDAQ:PFBC - Free Report) by 41.3% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,724 shares of the bank's stock after selling 4,732 shares during the period. Tudor Investment Corp ET AL's holdings in Preferred Bank were worth $581,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Jump Financial LLC boosted its position in Preferred Bank by 2.1% during the fourth quarter. Jump Financial LLC now owns 9,148 shares of the bank's stock valued at $790,000 after buying an additional 185 shares during the period. KBC Group NV boosted its holdings in shares of Preferred Bank by 46.2% during the fourth quarter. KBC Group NV now owns 914 shares of the bank's stock worth $79,000 after purchasing an additional 289 shares during the period. Picton Mahoney Asset Management boosted its holdings in shares of Preferred Bank by 110.7% during the fourth quarter. Picton Mahoney Asset Management now owns 550 shares of the bank's stock worth $47,000 after purchasing an additional 289 shares during the period. Exchange Traded Concepts LLC boosted its holdings in shares of Preferred Bank by 2.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 16,272 shares of the bank's stock worth $1,406,000 after purchasing an additional 334 shares during the period. Finally, Sterling Capital Management LLC boosted its holdings in shares of Preferred Bank by 7.3% during the fourth quarter. Sterling Capital Management LLC now owns 5,219 shares of the bank's stock worth $451,000 after purchasing an additional 354 shares during the period. Institutional investors own 72.77% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PFBC shares. Piper Sandler decreased 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 note on Tuesday, April 29th. DA Davidson decreased their price objective 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. Finally, Stephens reaffirmed an "equal weight" rating and issued a $91.00 target price on shares of Preferred Bank in a research report on Tuesday, April 29th.

Preferred Bank Stock Performance

Shares of NASDAQ:PFBC traded down $0.49 during mid-day trading on Wednesday, reaching $85.37. 24,440 shares of the company traded hands, compared to its average volume of 85,661. The firm has a market cap of $1.23 billion, a PE ratio of 8.87 and a beta of 0.69. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.08 and a quick ratio of 1.08. The company's 50 day moving average price is $81.57 and its 200-day moving average price is $86.71. Preferred Bank has a 52 week low of $71.43 and a 52 week high of $99.78.

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

Preferred Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, April 7th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 3.51%. The ex-dividend date was Monday, April 7th. Preferred Bank's payout ratio is currently 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.