Preferred Bank $PFBC Shares Bought by Cwm LLC

Cwm LLC lifted its position in shares of Preferred Bank (NASDAQ:PFBC) by 301.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,581 shares of the bank’s stock after acquiring an additional 7,195 shares during the quarter. Cwm LLC owned 0.07% of Preferred Bank worth $866,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in PFBC. Boston Partners boosted its holdings in Preferred Bank by 1.3% in the 2nd quarter. Boston Partners now owns 532,085 shares of the bank’s stock valued at $46,428,000 after purchasing an additional 6,963 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Preferred Bank by 1.3% in the second quarter. Geode Capital Management LLC now owns 372,081 shares of the bank’s stock valued at $32,205,000 after buying an additional 4,896 shares in the last quarter. American Century Companies Inc. grew its holdings in Preferred Bank by 13.5% during the second quarter. American Century Companies Inc. now owns 291,858 shares of the bank’s stock worth $25,259,000 after acquiring an additional 34,796 shares during the period. Stieven Capital Advisors L.P. raised its position in Preferred Bank by 9.1% in the second quarter. Stieven Capital Advisors L.P. now owns 121,021 shares of the bank’s stock worth $10,474,000 after acquiring an additional 10,100 shares in the last quarter. Finally, Jane Street Group LLC raised its position in Preferred Bank by 81.0% in the first quarter. Jane Street Group LLC now owns 66,428 shares of the bank’s stock worth $5,557,000 after acquiring an additional 29,729 shares in the last quarter. Institutional investors and hedge funds own 72.77% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Zacks Research lowered shares of Preferred Bank from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 26th. Piper Sandler boosted their price objective on shares of Preferred Bank from $112.00 to $119.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Preferred Bank in a report on Monday, December 29th. Finally, DA Davidson reduced their price target on shares of Preferred Bank from $108.00 to $104.00 and set a “neutral” rating for the company in a research report on Wednesday, October 22nd. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $104.67.

Preferred Bank Stock Down 1.0%

PFBC stock opened at $95.14 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.07 and a quick ratio of 1.07. The company’s 50 day simple moving average is $94.91 and its 200-day simple moving average is $92.80. Preferred Bank has a 12 month low of $71.90 and a 12 month high of $103.05. The firm has a market capitalization of $1.37 billion, a PE ratio of 9.67 and a beta of 0.66.

Preferred Bank (NASDAQ:PFBC) last posted its earnings results on Monday, October 20th. The bank reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.57 by $0.27. The firm had revenue of $74.98 million for the quarter, compared to analyst estimates of $72.74 million. Preferred Bank had a return on equity of 16.91% and a net margin of 25.67%.During the same quarter in the prior year, the company earned $2.46 EPS. Equities analysts expect that Preferred Bank will post 9.81 earnings per share for the current fiscal year.

Preferred Bank Announces Dividend

The business also recently disclosed an annual dividend, which will be paid on Tuesday, January 20th. Investors of record on Tuesday, January 6th will be paid a dividend of $3.20 per share. The ex-dividend date of this dividend is Tuesday, January 6th. This represents a dividend yield of 336.0%. Preferred Bank’s dividend payout ratio (DPR) is presently 30.49%.

Preferred Bank Company Profile

Preferred Bank (NASDAQ: PFBC) is a California-chartered commercial bank headquartered in Los Angeles. The institution offers a full range of banking products and services to businesses and individuals, with a particular emphasis on commercial real estate lending, business banking, treasury management and deposit accounts. Preferred Bank operates through branch offices across Southern California and national loan production offices in major U.S. markets.

The bank’s core lending portfolio focuses on commercial real estate acquisition, development and investment properties.