Public Sector Pension Investment Board Purchases 5,512 Shares of Preferred Bank $PFBC

Public Sector Pension Investment Board lifted its position in shares of Preferred Bank (NASDAQ:PFBC) by 10.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 56,368 shares of the bank’s stock after buying an additional 5,512 shares during the period. Public Sector Pension Investment Board owned about 0.39% of Preferred Bank worth $5,095,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of PFBC. American Century Companies Inc. raised its stake in shares of Preferred Bank by 13.5% during the second quarter. American Century Companies Inc. now owns 291,858 shares of the bank’s stock worth $25,259,000 after acquiring an additional 34,796 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of Preferred Bank by 81.0% during the 1st quarter. Jane Street Group LLC now owns 66,428 shares of the bank’s stock valued at $5,557,000 after purchasing an additional 29,729 shares during the last quarter. WINTON GROUP Ltd grew its holdings in shares of Preferred Bank by 217.1% during the 2nd quarter. WINTON GROUP Ltd now owns 42,116 shares of the bank’s stock valued at $3,645,000 after purchasing an additional 28,835 shares during the last quarter. AlphaQuest LLC raised its position in Preferred Bank by 617.3% in the 2nd quarter. AlphaQuest LLC now owns 24,387 shares of the bank’s stock worth $2,111,000 after purchasing an additional 20,987 shares during the period. Finally, Bank of America Corp DE lifted its stake in Preferred Bank by 50.1% in the second quarter. Bank of America Corp DE now owns 61,857 shares of the bank’s stock worth $5,353,000 after purchasing an additional 20,660 shares during the last quarter. Hedge funds and other institutional investors own 72.77% of the company’s stock.

Analyst Ratings Changes

PFBC has been the topic of a number of recent research reports. Piper Sandler reduced their price objective on Preferred Bank from $121.00 to $111.00 and set an “overweight” rating on the stock in a research note on Monday, January 26th. Weiss Ratings restated a “buy (b)” rating on shares of Preferred Bank in a report on Monday, December 29th. Zacks Research cut Preferred Bank from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 26th. Finally, Stephens reissued a “positive” rating on shares of Preferred Bank in a research note on Monday, January 26th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $102.67.

Preferred Bank Trading Down 0.0%

PFBC opened at $92.14 on Friday. Preferred Bank has a one year low of $71.90 and a one year high of $103.05. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 1.07. The business has a 50 day simple moving average of $93.95 and a two-hundred day simple moving average of $92.83. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of 8.88 and a beta of 0.65.

Preferred Bank (NASDAQ:PFBC) last released its quarterly earnings data on Thursday, January 22nd. The bank reported $2.79 earnings per share for the quarter, topping the consensus estimate of $2.78 by $0.01. Preferred Bank had a return on equity of 17.31% and a net margin of 26.41%.The business had revenue of $78.07 million during the quarter, compared to analysts’ expectations of $74.54 million. Analysts predict that Preferred Bank will post 9.81 EPS for the current year.

Preferred Bank Dividend Announcement

The business also recently declared an annual dividend, which was paid on Tuesday, January 20th. Investors of record on Tuesday, January 6th were issued a $3.20 dividend. The ex-dividend date was Tuesday, January 6th. This represents a yield of 336.0%. Preferred Bank’s payout ratio is 30.83%.

Preferred Bank Profile

Preferred Bank (NASDAQ: PFBC) is a California-chartered commercial bank headquartered in Los Angeles. The institution offers a full range of banking products and services to businesses and individuals, with a particular emphasis on commercial real estate lending, business banking, treasury management and deposit accounts. Preferred Bank operates through branch offices across Southern California and national loan production offices in major U.S. markets.

The bank’s core lending portfolio focuses on commercial real estate acquisition, development and investment properties.