Princeton Capital Management LLC Purchases New Shares in Preferred Bank (NASDAQ:PFBC)

Princeton Capital Management LLC acquired a new position in shares of Preferred Bank (NASDAQ:PFBC) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,500 shares of the bank’s stock, valued at approximately $201,000.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Preferred Bank by 1.3% during the first quarter. Vanguard Group Inc. now owns 868,073 shares of the bank’s stock worth $66,642,000 after buying an additional 10,931 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Preferred Bank in the 3rd quarter valued at approximately $294,000. Russell Investments Group Ltd. increased its holdings in shares of Preferred Bank by 6.2% in the first quarter. Russell Investments Group Ltd. now owns 15,637 shares of the bank’s stock valued at $1,200,000 after purchasing an additional 919 shares during the period. CWM LLC raised its stake in shares of Preferred Bank by 140.0% during the third quarter. CWM LLC now owns 2,503 shares of the bank’s stock worth $201,000 after purchasing an additional 1,460 shares during the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new stake in shares of Preferred Bank during the second quarter worth approximately $408,000. 72.77% of the stock is currently owned by institutional investors and hedge funds.

Preferred Bank Trading Down 0.4 %

NASDAQ:PFBC opened at $93.27 on Tuesday. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of 9.35 and a beta of 0.94. Preferred Bank has a 1 year low of $61.24 and a 1 year high of $97.21. The stock has a fifty day moving average price of $83.55 and a two-hundred day moving average price of $80.01. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.08 and a current ratio of 1.08.

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

Preferred Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Monday, October 7th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend was Monday, October 7th. Preferred Bank’s payout ratio is currently 28.06%.

Analyst Upgrades and Downgrades

PFBC has been the topic of several recent research reports. Piper Sandler boosted their price objective on shares of Preferred Bank from $88.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Stephens increased their price target on shares of Preferred Bank from $90.00 to $94.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd.

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.