LSV Asset Management Has $334,000 Stock Position in Preferred Bank $PFBC

LSV Asset Management lowered its stake in shares of Preferred Bank (NASDAQ:PFBC) by 93.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,700 shares of the bank’s stock after selling 49,840 shares during the period. LSV Asset Management’s holdings in Preferred Bank were worth $334,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC raised its position in Preferred Bank by 1,224.0% during the second quarter. EverSource Wealth Advisors LLC now owns 331 shares of the bank’s stock worth $29,000 after acquiring an additional 306 shares in the last quarter. NewEdge Advisors LLC increased its stake in shares of Preferred Bank by 350.7% during the 2nd quarter. NewEdge Advisors LLC now owns 1,316 shares of the bank’s stock worth $114,000 after purchasing an additional 1,024 shares during the last quarter. Rexford Capital Inc. bought a new stake in shares of Preferred Bank in the 2nd quarter valued at about $128,000. Dynamic Technology Lab Private Ltd acquired a new stake in Preferred Bank in the 2nd quarter valued at about $212,000. Finally, Police & Firemen s Retirement System of New Jersey grew its holdings in Preferred Bank by 12.5% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 2,831 shares of the bank’s stock worth $245,000 after purchasing an additional 314 shares during the period. 72.77% of the stock is owned by institutional investors.

Preferred Bank Trading Up 1.1%

Shares of Preferred Bank stock opened at $91.87 on Wednesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a 50-day moving average of $94.17 and a 200-day moving average of $92.84. Preferred Bank has a 52-week low of $71.90 and a 52-week high of $103.05. The stock has a market cap of $1.33 billion, a PE ratio of 8.85 and a beta of 0.65.

Preferred Bank (NASDAQ:PFBC) last issued its quarterly earnings data on Thursday, January 22nd. The bank reported $2.79 earnings per share for the quarter, topping the consensus estimate of $2.78 by $0.01. Preferred Bank had a net margin of 26.41% and a return on equity of 17.31%. The business had revenue of $78.07 million during the quarter, compared to analysts’ expectations of $74.54 million. As a group, sell-side analysts forecast that Preferred Bank will post 9.81 EPS for the current year.

Preferred Bank Dividend Announcement

The business also recently declared an annual dividend, which was paid on Tuesday, January 20th. Investors of record on Tuesday, January 6th were paid a $3.20 dividend. This represents a dividend yield of 336.0%. The ex-dividend date was Tuesday, January 6th. Preferred Bank’s payout ratio is 30.83%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Stephens restated a “positive” rating on shares of Preferred Bank in a research note on Monday, January 26th. Piper Sandler reduced their target price on Preferred Bank from $121.00 to $111.00 and set an “overweight” rating for the company in a research note on Monday, January 26th. Zacks Research cut Preferred Bank from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 26th. DA Davidson cut their price target on Preferred Bank from $108.00 to $104.00 and set a “neutral” rating for the company in a report on Wednesday, October 22nd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Preferred Bank in a report on Monday, December 29th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Preferred Bank presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.67.

Preferred Bank 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.