Kennedy Capital Management LLC Has $18.83 Million Stock Position in Preferred Bank $PFBC

Kennedy Capital Management LLC raised its stake in shares of Preferred Bank (NASDAQ:PFBC) by 19.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 199,419 shares of the bank’s stock after buying an additional 33,157 shares during the period. Kennedy Capital Management LLC owned 1.38% of Preferred Bank worth $18,831,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PFBC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Preferred Bank by 2.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,266 shares of the bank’s stock worth $608,000 after purchasing an additional 202 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Preferred Bank by 19.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 25,931 shares of the bank’s stock worth $2,169,000 after purchasing an additional 4,158 shares during the period. Jane Street Group LLC increased its stake in shares of Preferred Bank by 81.0% in the first quarter. Jane Street Group LLC now owns 66,428 shares of the bank’s stock worth $5,557,000 after purchasing an additional 29,729 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Preferred Bank by 1,224.0% in the second quarter. EverSource Wealth Advisors LLC now owns 331 shares of the bank’s stock worth $29,000 after purchasing an additional 306 shares during the period. Finally, Jump Financial LLC increased its stake in shares of Preferred Bank by 148.7% in the second quarter. Jump Financial LLC now owns 14,225 shares of the bank’s stock worth $1,231,000 after purchasing an additional 8,505 shares during the period. 72.77% of the stock is currently owned by institutional investors.

Preferred Bank Stock Performance

PFBC stock opened at $101.61 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.07 and a quick ratio of 1.06. The company has a 50 day moving average price of $94.67 and a 200 day moving average price of $93.41. Preferred Bank has a fifty-two week low of $79.60 and a fifty-two week high of $103.05. The stock has a market capitalization of $1.47 billion, a PE ratio of 9.51 and a beta of 0.56.

Preferred Bank (NASDAQ:PFBC) last issued its earnings results on Wednesday, April 22nd. The bank reported $2.53 EPS for the quarter, beating the consensus estimate of $2.48 by $0.05. Preferred Bank had a net margin of 26.49% and a return on equity of 17.52%. The company had revenue of $69.62 million during the quarter, compared to analysts’ expectations of $71.76 million. Analysts forecast that Preferred Bank will post 10.58 EPS for the current year.

Preferred Bank Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 21st. Stockholders of record on Tuesday, April 7th were issued a $0.80 dividend. The ex-dividend date of this dividend was Tuesday, April 7th. This represents a $3.20 annualized dividend and a dividend yield of 3.1%. Preferred Bank’s payout ratio is 29.96%.

Analyst Upgrades and Downgrades

PFBC has been the topic of a number of recent analyst reports. Janney Montgomery Scott initiated coverage on Preferred Bank in a research note on Tuesday, February 24th. They issued a “neutral” rating and a $100.00 price objective on the stock. Brean Capital downgraded Preferred Bank from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Weiss Ratings raised Preferred Bank from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, June 8th. Finally, Piper Sandler lifted their price objective on Preferred Bank from $105.00 to $111.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $102.00.

Preferred Bank Company 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.