Capital Impact Advisors LLC Sells 4,617 Shares of Preferred Bank (NASDAQ:PFBC)

Capital Impact Advisors LLC lowered its position in shares of Preferred Bank (NASDAQ:PFBC) by 80.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,118 shares of the bank’s stock after selling 4,617 shares during the quarter. Capital Impact Advisors LLC’s holdings in Preferred Bank were worth $84,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Texas Permanent School Fund Corp grew its holdings in Preferred Bank by 1.6% during the first quarter. Texas Permanent School Fund Corp now owns 10,964 shares of the bank’s stock valued at $842,000 after purchasing an additional 169 shares during the period. SummerHaven Investment Management LLC increased its position in shares of Preferred Bank by 1.6% in the 2nd quarter. SummerHaven Investment Management LLC now owns 12,846 shares of the bank’s stock valued at $970,000 after buying an additional 201 shares in the last quarter. WINTON GROUP Ltd raised its stake in Preferred Bank by 1.7% during the 2nd quarter. WINTON GROUP Ltd now owns 13,970 shares of the bank’s stock worth $1,055,000 after buying an additional 232 shares during the period. Federated Hermes Inc. raised its position in shares of Preferred Bank by 0.9% during the second quarter. Federated Hermes Inc. now owns 30,228 shares of the bank’s stock worth $2,282,000 after purchasing an additional 274 shares during the period. Finally, Sei Investments Co. increased its stake in Preferred Bank by 6.7% in the 2nd quarter. Sei Investments Co. now owns 5,137 shares of the bank’s stock valued at $388,000 after buying an additional 323 shares during the last quarter. 72.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on PFBC. Stephens increased their price target on Preferred Bank from $84.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Piper Sandler increased their price target on shares of Preferred Bank from $88.00 to $105.00 and gave the company an “overweight” rating in a report on Monday, July 29th.

Preferred Bank Stock Performance

Shares of NASDAQ:PFBC opened at $79.64 on Monday. Preferred Bank has a 12-month low of $58.52 and a 12-month high of $91.67. The company’s 50 day moving average price is $80.53 and its two-hundred day moving average price is $77.40. The firm has a market cap of $1.15 billion, a PE ratio of 7.69 and a beta of 0.96. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.21.

Preferred Bank (NASDAQ:PFBC) last issued its quarterly earnings results on Thursday, July 25th. The bank reported $2.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.39 by $0.09. The business had revenue of $130.70 million for the quarter, compared to the consensus estimate of $70.55 million. Preferred Bank had a return on equity of 20.24% and a net margin of 27.35%. During the same quarter in the prior year, the business posted $2.61 earnings per share. Equities research analysts predict that Preferred Bank will post 9.61 earnings per share for the current year.

Preferred Bank Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Monday, October 7th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date is Monday, October 7th. Preferred Bank’s dividend payout ratio (DPR) is presently 27.03%.

Preferred Bank Company 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. 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.