Preferred Bank (NASDAQ:PFBC) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund trimmed its position in shares of Preferred Bank (NASDAQ:PFBC) by 15.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,911 shares of the bank’s stock after selling 4,496 shares during the quarter. New York State Common Retirement Fund’s holdings in Preferred Bank were worth $1,747,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in PFBC. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Preferred Bank during the fourth quarter worth $34,000. Everence Capital Management Inc. acquired a new position in Preferred Bank during the fourth quarter worth about $213,000. SG Americas Securities LLC purchased a new stake in Preferred Bank during the 3rd quarter valued at about $232,000. Robeco Institutional Asset Management B.V. acquired a new stake in Preferred Bank in the 3rd quarter valued at about $311,000. Finally, Alps Advisors Inc. lifted its stake in Preferred Bank by 6.0% in the 3rd quarter. Alps Advisors Inc. now owns 5,408 shares of the bank’s stock worth $337,000 after purchasing an additional 306 shares in the last quarter. 72.77% of the stock is owned by institutional investors and hedge funds.

Preferred Bank Trading Up 0.9 %

Shares of Preferred Bank stock opened at $79.56 on Thursday. Preferred Bank has a 1-year low of $44.41 and a 1-year high of $80.11. 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 stock has a market cap of $1.15 billion, a P/E ratio of 7.68 and a beta of 1.02. The stock’s 50 day simple moving average is $74.85 and its 200-day simple moving average is $70.80.

Preferred Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Friday, April 5th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date of this dividend was Thursday, April 4th. Preferred Bank’s dividend payout ratio (DPR) is currently 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.