Hsbc Holdings PLC Grows Position in Preferred Bank $PFBC

Hsbc Holdings PLC raised its position in Preferred Bank (NASDAQ:PFBC) by 24.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 144,588 shares of the bank’s stock after purchasing an additional 28,268 shares during the quarter. Hsbc Holdings PLC’s holdings in Preferred Bank were worth $13,957,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. WINTON GROUP Ltd boosted its position in shares of Preferred Bank by 1.1% during the fourth quarter. WINTON GROUP Ltd now owns 14,136 shares of the bank’s stock valued at $1,335,000 after buying an additional 150 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Preferred Bank by 2.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,266 shares of the bank’s stock valued at $608,000 after buying an additional 202 shares during the last quarter. Royce & Associates LP raised its holdings in shares of Preferred Bank by 0.8% in the fourth quarter. Royce & Associates LP now owns 25,200 shares of the bank’s stock worth $2,380,000 after buying an additional 202 shares during the period. Horizon Investments LLC raised its holdings in shares of Preferred Bank by 3.5% in the fourth quarter. Horizon Investments LLC now owns 6,231 shares of the bank’s stock worth $583,000 after buying an additional 209 shares during the period. Finally, Aquatic Capital Management LLC lifted its stake in shares of Preferred Bank by 6.4% during the 3rd quarter. Aquatic Capital Management LLC now owns 3,954 shares of the bank’s stock worth $357,000 after acquiring an additional 238 shares during the last quarter. Institutional investors own 72.77% of the company’s stock.

Analysts Set New Price Targets

PFBC has been the subject of a number of recent analyst reports. Weiss Ratings upgraded Preferred Bank from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, June 8th. Piper Sandler increased their target price on Preferred Bank from $105.00 to $111.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Preferred Bank has an average rating of “Hold” and an average target price of $102.00.

Preferred Bank Trading Up 0.8%

Shares of PFBC opened at $104.74 on Friday. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of 9.81 and a beta of 0.56. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.07 and a quick ratio of 1.06. Preferred Bank has a 1-year low of $81.50 and a 1-year high of $104.85. The company has a 50-day moving average of $96.09 and a 200 day moving average of $93.78.

Preferred Bank (NASDAQ:PFBC) last issued its earnings results on Wednesday, April 22nd. The bank reported $2.53 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.05. The business had revenue of $69.62 million for the quarter, compared to the consensus estimate of $71.76 million. Preferred Bank had a net margin of 26.49% and a return on equity of 17.52%. On average, research analysts expect that Preferred Bank will post 10.67 EPS for the current year.

Preferred Bank Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 21st. Investors of record on Tuesday, July 7th will be issued a $0.80 dividend. The ex-dividend date is Tuesday, July 7th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.1%. Preferred Bank’s payout ratio is presently 29.96%.

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.