Preferred Bank $PFBC Shares Sold by Numerai GP LLC

Numerai GP LLC lessened its holdings in Preferred Bank (NASDAQ:PFBC) by 59.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,396 shares of the bank’s stock after selling 34,540 shares during the quarter. Numerai GP LLC’s holdings in Preferred Bank were worth $2,115,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PFBC. Denali Advisors LLC acquired a new stake in shares of Preferred Bank in the 3rd quarter valued at approximately $3,091,000. Geode Capital Management LLC grew its holdings in Preferred Bank by 1.3% during the second quarter. Geode Capital Management LLC now owns 372,081 shares of the bank’s stock worth $32,205,000 after acquiring an additional 4,896 shares during the period. American Century Companies Inc. raised its position in Preferred Bank by 13.5% in 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. New York State Common Retirement Fund lifted its holdings in Preferred Bank by 36.1% in the third quarter. New York State Common Retirement Fund now owns 31,322 shares of the bank’s stock valued at $2,831,000 after acquiring an additional 8,300 shares during the period. Finally, Dynamic Technology Lab Private Ltd lifted its holdings in Preferred Bank by 316.8% in the third quarter. Dynamic Technology Lab Private Ltd now owns 10,212 shares of the bank’s stock valued at $923,000 after acquiring an additional 7,762 shares during the period. Institutional investors and hedge funds own 72.77% of the company’s stock.

Preferred Bank Stock Up 0.1%

Shares of NASDAQ:PFBC opened at $89.11 on Tuesday. The company has a market capitalization of $1.29 billion, a P/E ratio of 8.58 and a beta of 0.62. The stock’s fifty day simple moving average is $90.82 and its 200-day simple moving average is $92.50. Preferred Bank has a 52-week low of $71.90 and a 52-week high of $103.05. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.44.

Preferred Bank (NASDAQ:PFBC) last announced its earnings results on Thursday, January 22nd. The bank reported $2.79 earnings per share for the quarter, beating the consensus estimate of $2.78 by $0.01. The firm had revenue of $78.07 million during the quarter, compared to the consensus estimate of $74.54 million. Preferred Bank had a net margin of 26.41% and a return on equity of 17.31%. As a group, equities research analysts forecast that Preferred Bank will post 9.81 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on PFBC shares. Janney Montgomery Scott assumed coverage on shares of Preferred Bank in a research note on Tuesday, February 24th. They set a “neutral” rating and a $100.00 price target on the stock. Piper Sandler decreased their price objective on shares of Preferred Bank from $121.00 to $111.00 and set an “overweight” rating on the stock in a report on Monday, January 26th. Stephens restated a “positive” rating on shares of Preferred Bank in a research report on Monday, January 26th. Zacks Research cut shares of Preferred Bank from a “strong-buy” rating to a “hold” rating in a report on Friday, December 26th. Finally, Brean Capital downgraded shares of Preferred Bank from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus 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.