Dynamic Technology Lab Private Ltd Grows Stake in Preferred Bank $PFBC

Dynamic Technology Lab Private Ltd increased its position in shares of Preferred Bank (NASDAQ:PFBC) by 316.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,212 shares of the bank’s stock after buying an additional 7,762 shares during the period. Dynamic Technology Lab Private Ltd owned about 0.07% of Preferred Bank worth $923,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Preferred Bank by 2.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,266 shares of the bank’s stock valued at $608,000 after acquiring an additional 202 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Preferred Bank by 19.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 25,931 shares of the bank’s stock worth $2,169,000 after purchasing an additional 4,158 shares during the last quarter. Jane Street Group LLC increased its stake in shares of Preferred Bank by 81.0% in the first quarter. Jane Street Group LLC now owns 66,428 shares of the bank’s stock valued at $5,557,000 after purchasing an additional 29,729 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of Preferred Bank by 1.4% in the second quarter. Envestnet Asset Management Inc. now owns 13,581 shares of the bank’s stock valued at $1,175,000 after purchasing an additional 187 shares during the period. Finally, Allworth Financial LP raised its stake in Preferred Bank by 36,363.6% during the 2nd quarter. Allworth Financial LP now owns 4,011 shares of the bank’s stock valued at $347,000 after acquiring an additional 4,000 shares in the last quarter. 72.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PFBC has been the topic of a number of research reports. Brean Capital downgraded shares of Preferred Bank from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Preferred Bank in a research note on Monday, December 29th. Piper Sandler dropped their target price on Preferred Bank from $121.00 to $111.00 and set an “overweight” rating on the stock in a report on Monday, January 26th. Zacks Research lowered shares of Preferred Bank from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 26th. Finally, Janney Montgomery Scott initiated coverage on shares of Preferred Bank in a report on Tuesday, February 24th. They set a “neutral” rating and a $100.00 price target for the company. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Preferred Bank has an average rating of “Hold” and an average target price of $102.00.

Preferred Bank Stock Down 1.3%

PFBC opened at $88.73 on Monday. The company has a market capitalization of $1.28 billion, a PE ratio of 8.55 and a beta of 0.62. The business has a 50-day moving average of $91.72 and a 200-day moving average of $92.72. Preferred Bank has a fifty-two week low of $71.90 and a fifty-two week high of $103.05. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 1.07.

Preferred Bank (NASDAQ:PFBC) last posted its earnings results on Thursday, January 22nd. The bank reported $2.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.78 by $0.01. The firm had revenue of $78.07 million during the quarter, compared to analysts’ expectations of $74.54 million. Preferred Bank had a net margin of 26.41% and a return on equity of 17.31%. Equities research analysts forecast that Preferred Bank will post 9.81 EPS for the current fiscal year.

Preferred Bank Dividend Announcement

The company also recently disclosed an annual dividend, which was paid on Tuesday, January 20th. Stockholders of record on Tuesday, January 6th were issued a dividend of $3.20 per share. This represents a dividend yield of 336.0%. The ex-dividend date of this dividend was Tuesday, January 6th. Preferred Bank’s dividend payout ratio (DPR) is presently 30.83%.

About Preferred Bank

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.