Invesco Ltd. Has $10.66 Million Position in Preferred Bank (NASDAQ:PFBC)

Invesco Ltd. decreased its position in shares of Preferred Bank (NASDAQ:PFBC) by 11.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 123,433 shares of the bank’s stock after selling 15,430 shares during the quarter. Invesco Ltd. owned approximately 0.86% of Preferred Bank worth $10,662,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of PFBC. Jane Street Group LLC increased its position in Preferred Bank by 43.8% in the third quarter. Jane Street Group LLC now owns 19,879 shares of the bank’s stock worth $1,595,000 after purchasing an additional 6,056 shares during the period. Barclays PLC grew its position in shares of Preferred Bank by 70.9% during the 3rd quarter. Barclays PLC now owns 27,430 shares of the bank’s stock worth $2,201,000 after buying an additional 11,379 shares during the period. Geode Capital Management LLC raised its stake in shares of Preferred Bank by 3.6% during the third quarter. Geode Capital Management LLC now owns 352,597 shares of the bank’s stock worth $28,300,000 after buying an additional 12,283 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Preferred Bank by 24.0% in the third quarter. JPMorgan Chase & Co. now owns 186,107 shares of the bank’s stock valued at $14,935,000 after buying an additional 35,979 shares during the period. Finally, SG Americas Securities LLC boosted its stake in Preferred Bank by 59.6% in the fourth quarter. SG Americas Securities LLC now owns 5,845 shares of the bank’s stock valued at $505,000 after acquiring an additional 2,183 shares during the last quarter. 72.77% of the stock is currently owned by institutional investors.

Preferred Bank Price Performance

Shares of PFBC stock opened at $84.35 on Wednesday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.19. Preferred Bank has a 12-month low of $71.43 and a 12-month high of $99.78. The firm has a fifty day moving average of $83.21 and a 200-day moving average of $86.72. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of 8.76 and a beta of 0.71.

Preferred Bank (NASDAQ:PFBC) last posted its earnings results on Monday, January 27th. The bank reported $2.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.17). Preferred Bank had a net margin of 25.00% and a return on equity of 17.80%. On average, equities research analysts forecast that Preferred Bank will post 9.81 earnings per share for the current year.

Preferred Bank Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, April 7th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Monday, April 7th. This represents a $3.00 annualized dividend and a yield of 3.56%. Preferred Bank’s dividend payout ratio (DPR) is currently 31.15%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on PFBC shares. DA Davidson increased their price target on Preferred Bank from $98.00 to $101.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Piper Sandler raised their target price on Preferred Bank from $101.00 to $111.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, Stephens restated an “equal weight” rating and set a $100.00 target price on shares of Preferred Bank in a research report on Thursday, January 30th.

About Preferred Bank

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.