Preferred Bank (NASDAQ:PFBC) Shares Sold by Yousif Capital Management LLC

Yousif Capital Management LLC lessened its stake in shares of Preferred Bank (NASDAQ:PFBC) by 2.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,568 shares of the bank’s stock after selling 135 shares during the period. Yousif Capital Management LLC’s holdings in Preferred Bank were worth $382,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of PFBC. NBC Securities Inc. purchased a new stake in Preferred Bank during the 1st quarter valued at about $25,000. Picton Mahoney Asset Management grew its stake in Preferred Bank by 110.7% during the 4th quarter. Picton Mahoney Asset Management now owns 550 shares of the bank’s stock valued at $47,000 after acquiring an additional 289 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in Preferred Bank by 217.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 562 shares of the bank’s stock valued at $49,000 after acquiring an additional 385 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in Preferred Bank during the 4th quarter valued at about $117,000. Finally, Virtu Financial LLC purchased a new stake in Preferred Bank during the 4th quarter valued at about $203,000. Hedge funds and other institutional investors own 72.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Stephens reaffirmed an “equal weight” rating and set a $91.00 price objective on shares of Preferred Bank in a research note on Tuesday, April 29th. Piper Sandler dropped their price objective on shares of Preferred Bank from $108.00 to $96.00 and set an “overweight” rating for the company in a research note on Tuesday, April 29th. Finally, DA Davidson dropped their price objective on shares of Preferred Bank from $95.00 to $90.00 and set a “neutral” rating for the company in a research note on Monday, April 28th.

Preferred Bank Stock Performance

Preferred Bank stock opened at $81.35 on Friday. The firm has a 50 day simple moving average of $82.56 and a 200-day simple moving average of $85.17. Preferred Bank has a 1-year low of $71.90 and a 1-year high of $99.78. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.07 and a quick ratio of 1.08. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 8.64 and a beta of 0.70.

Preferred Bank (NASDAQ:PFBC) last posted its quarterly earnings data on Friday, April 25th. The bank reported $2.23 earnings per share for the quarter, missing analysts’ consensus estimates of $2.33 by ($0.10). The company had revenue of $65.96 million for the quarter, compared to analysts’ expectations of $70.78 million. Preferred Bank had a return on equity of 16.88% and a net margin of 24.87%. During the same period in the previous year, the business posted $2.44 EPS. On average, analysts expect that Preferred Bank will post 9.81 EPS for the current year.

Preferred Bank announced that its board has initiated a share buyback program on Thursday, May 22nd that allows the company to buyback $125.00 million in outstanding shares. This buyback authorization allows the bank to purchase up to 10.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

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. 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.