Preferred Bank (NASDAQ:PFBC) Shares Sold by Mariner LLC

Mariner LLC trimmed its position in Preferred Bank (NASDAQ:PFBC) by 6.6% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,722 shares of the bank’s stock after selling 193 shares during the period. Mariner LLC’s holdings in Preferred Bank were worth $235,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PFBC. JPMorgan Chase & Co. lifted its position in shares of Preferred Bank by 24.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 186,107 shares of the bank’s stock worth $14,935,000 after buying an additional 35,979 shares during the last quarter. KBC Group NV lifted its holdings in Preferred Bank by 46.2% in the fourth quarter. KBC Group NV now owns 914 shares of the bank’s stock worth $79,000 after acquiring an additional 289 shares during the last quarter. New York State Common Retirement Fund boosted its stake in Preferred Bank by 15.5% in the fourth quarter. New York State Common Retirement Fund now owns 26,222 shares of the bank’s stock valued at $2,265,000 after acquiring an additional 3,516 shares during the period. Wells Fargo & Company MN grew its holdings in shares of Preferred Bank by 25.4% during the fourth quarter. Wells Fargo & Company MN now owns 7,848 shares of the bank’s stock valued at $678,000 after purchasing an additional 1,588 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in shares of Preferred Bank by 59.6% during the 4th quarter. SG Americas Securities LLC now owns 5,845 shares of the bank’s stock worth $505,000 after purchasing an additional 2,183 shares during the period. 72.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on PFBC. Piper Sandler lowered their price objective on Preferred Bank from $108.00 to $96.00 and set an “overweight” rating for the company in a research note on Tuesday, April 29th. DA Davidson lowered their price target on shares of Preferred Bank from $95.00 to $90.00 and set a “neutral” rating for the company in a research report on Monday, April 28th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $91.00 price objective on shares of Preferred Bank in a report on Tuesday, April 29th.

Preferred Bank Stock Down 1.1 %

PFBC opened at $81.33 on Wednesday. The stock’s 50 day moving average price is $81.81 and its 200 day moving average price is $86.70. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.08 and a quick ratio of 1.08. The stock has a market cap of $1.17 billion, a P/E ratio of 8.45 and a beta of 0.69. Preferred Bank has a 12 month low of $71.43 and a 12 month high of $99.78.

Preferred Bank (NASDAQ:PFBC) last issued its quarterly earnings results on Friday, April 25th. The bank reported $2.23 EPS for the quarter, missing analysts’ consensus estimates of $2.33 by ($0.10). The business had revenue of $65.96 million for the quarter, compared to analyst estimates of $70.78 million. Preferred Bank had a net margin of 25.00% and a return on equity of 17.80%. During the same period last year, the business posted $2.44 earnings per share. As a group, research analysts predict that Preferred Bank will post 9.81 earnings per share for the current year.

Preferred Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, April 7th were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.69%. The ex-dividend date of this dividend was Monday, April 7th. Preferred Bank’s dividend payout ratio (DPR) is presently 31.85%.

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.