Preferred Bank (NASDAQ:PFBC) Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC boosted its stake in Preferred Bank (NASDAQ:PFBC) by 140.3% in the 4th quarter, Holdings Channel reports. The firm owned 6,983 shares of the bank’s stock after buying an additional 4,077 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Preferred Bank were worth $510,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. American Century Companies Inc. increased its holdings in Preferred Bank by 25.9% in the 3rd quarter. American Century Companies Inc. now owns 112,126 shares of the bank’s stock valued at $6,980,000 after purchasing an additional 23,032 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Preferred Bank by 5.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 107,536 shares of the bank’s stock valued at $6,694,000 after buying an additional 5,305 shares during the last quarter. AQR Capital Management LLC boosted its position in Preferred Bank by 64.5% in the 3rd quarter. AQR Capital Management LLC now owns 69,277 shares of the bank’s stock valued at $4,313,000 after buying an additional 27,162 shares during the last quarter. Brandywine Global Investment Management LLC boosted its position in Preferred Bank by 117.8% in the 3rd quarter. Brandywine Global Investment Management LLC now owns 45,205 shares of the bank’s stock valued at $2,814,000 after buying an additional 24,445 shares during the last quarter. Finally, Barclays PLC boosted its position in Preferred Bank by 4.1% in the 3rd quarter. Barclays PLC now owns 25,163 shares of the bank’s stock valued at $1,566,000 after buying an additional 990 shares during the last quarter. 72.77% of the stock is currently owned by institutional investors and hedge funds.

Preferred Bank Stock Performance

NASDAQ:PFBC opened at $77.47 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a 50-day moving average of $73.72 and a two-hundred day moving average of $69.80. The stock has a market cap of $1.12 billion, a P/E ratio of 7.48 and a beta of 1.04. Preferred Bank has a 1-year low of $42.42 and a 1-year high of $79.08.

Preferred Bank (NASDAQ:PFBC) last posted its quarterly earnings data on Thursday, January 25th. The bank reported $2.60 earnings per share for the quarter, beating analysts’ consensus estimates of $2.54 by $0.06. The company had revenue of $127.07 million during the quarter, compared to analysts’ expectations of $72.84 million. Preferred Bank had a net margin of 28.70% and a return on equity of 21.28%. During the same period in the prior year, the company posted $2.71 EPS. On average, research analysts expect that Preferred Bank will post 9.13 earnings per share for the current fiscal year.

Preferred Bank Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 19th. Stockholders of record on Friday, April 5th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $2.80 annualized dividend and a dividend yield of 3.61%. Preferred Bank’s payout ratio is 27.03%.

Preferred Bank Profile

Preferred Bank provides various commercial banking products and services to small and mid-sized businesses and their owners, entrepreneurs, real estate developers and investors, professionals, and high net worth individuals in the United States. The company accepts checking, savings, and money market deposit accounts; fixed-rate and fixed maturity retail, and non-retail certificates of deposit; and individual retirement accounts.