5,300 Shares in Preferred Bank (NASDAQ:PFBC) Bought by Martingale Asset Management L P

Martingale Asset Management L P bought a new stake in Preferred Bank (NASDAQ:PFBC) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 5,300 shares of the bank’s stock, valued at approximately $425,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. SummerHaven Investment Management LLC grew its holdings in shares of Preferred Bank by 1.6% during the 2nd quarter. SummerHaven Investment Management LLC now owns 12,846 shares of the bank’s stock worth $970,000 after purchasing an additional 201 shares during the period. WINTON GROUP Ltd grew its stake in Preferred Bank by 1.7% during the second quarter. WINTON GROUP Ltd now owns 13,970 shares of the bank’s stock worth $1,055,000 after buying an additional 232 shares during the period. FMR LLC raised its stake in shares of Preferred Bank by 4.2% in the 3rd quarter. FMR LLC now owns 6,674 shares of the bank’s stock valued at $536,000 after acquiring an additional 271 shares during the period. Federated Hermes Inc. raised its stake in shares of Preferred Bank by 0.9% in the 2nd quarter. Federated Hermes Inc. now owns 30,228 shares of the bank’s stock valued at $2,282,000 after acquiring an additional 274 shares during the period. Finally, Sei Investments Co. boosted its position in Preferred Bank by 6.7% during the 2nd quarter. Sei Investments Co. now owns 5,137 shares of the bank’s stock worth $388,000 after purchasing an additional 323 shares during the period. Hedge funds and other institutional investors own 72.77% of the company’s stock.

Analyst Ratings Changes

Separately, Stephens raised their price objective on Preferred Bank from $90.00 to $94.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd.

Preferred Bank Stock Down 0.6 %

NASDAQ PFBC opened at $94.05 on Wednesday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.20. Preferred Bank has a fifty-two week low of $63.90 and a fifty-two week high of $99.78. The business has a 50 day moving average price of $87.07 and a two-hundred day moving average price of $81.32. The stock has a market cap of $1.36 billion, a PE ratio of 9.42 and a beta of 0.96.

Preferred Bank (NASDAQ:PFBC) last issued its quarterly earnings data on Monday, October 21st. The bank reported $2.46 EPS for the quarter, topping analysts’ consensus estimates of $2.39 by $0.07. The firm had revenue of $132.88 million for the quarter, compared to analyst estimates of $68.80 million. Preferred Bank had a net margin of 26.20% and a return on equity of 19.01%. During the same quarter in the previous year, the business posted $2.71 EPS. As a group, sell-side analysts predict that Preferred Bank will post 9.75 EPS for the current fiscal year.

Preferred Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $2.80 annualized dividend and a yield of 2.98%. Preferred Bank’s dividend payout ratio is presently 28.06%.

About Preferred Bank

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.