Maltese Capital Management LLC Sells 7,712 Shares of Preferred Bank $PFBC

Maltese Capital Management LLC decreased its holdings in Preferred Bank (NASDAQ:PFBC) by 10.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 64,788 shares of the bank’s stock after selling 7,712 shares during the quarter. Maltese Capital Management LLC owned approximately 0.45% of Preferred Bank worth $6,118,000 as of its most recent SEC filing.

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

Preferred Bank Stock Down 1.3%

NASDAQ PFBC opened at $100.26 on Tuesday. The stock has a fifty day moving average of $94.85 and a 200-day moving average of $93.45. The stock has a market capitalization of $1.45 billion, a P/E ratio of 9.39 and a beta of 0.56. Preferred Bank has a 52 week low of $79.60 and a 52 week high of $103.05. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.06 and a current ratio of 1.07.

Preferred Bank (NASDAQ:PFBC) last released 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 return on equity of 17.52% and a net margin of 26.49%.The company had revenue of $69.62 million during the quarter, compared to analysts’ expectations of $71.76 million. On average, equities research analysts forecast that Preferred Bank will post 10.58 EPS for the current year.

Preferred Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 21st. Investors of record on Tuesday, April 7th were paid a dividend of $0.80 per share. The ex-dividend date of this dividend was Tuesday, April 7th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.2%. Preferred Bank’s payout ratio is 29.96%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PFBC. Piper Sandler lifted their target price on Preferred Bank from $105.00 to $111.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Janney Montgomery Scott began coverage on Preferred Bank in a research note on Tuesday, February 24th. They issued a “neutral” rating and a $100.00 target price for the company. Weiss Ratings raised Preferred Bank from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. Finally, Brean Capital cut Preferred Bank from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Preferred Bank has an average rating of “Hold” and a consensus target price 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.