Los Angeles Capital Management LLC Sells 4,300 Shares of Preferred Bank (NASDAQ:PFBC)

Los Angeles Capital Management LLC lowered its position in shares of Preferred Bank (NASDAQ:PFBC) by 43.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,583 shares of the bank’s stock after selling 4,300 shares during the period. Los Angeles Capital Management LLC’s holdings in Preferred Bank were worth $429,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in PFBC. Charles Schwab Investment Management Inc. increased its position in shares of Preferred Bank by 5.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 107,536 shares of the bank’s stock valued at $6,694,000 after acquiring an additional 5,305 shares in the last quarter. Algert Global LLC bought a new stake in shares of Preferred Bank during the third quarter valued at approximately $1,081,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Preferred Bank during the third quarter valued at approximately $930,000. Quadrature Capital Ltd increased its position in shares of Preferred Bank by 13.2% during the third quarter. Quadrature Capital Ltd now owns 8,621 shares of the bank’s stock valued at $536,000 after acquiring an additional 1,004 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in Preferred Bank by 64.5% in the 3rd quarter. AQR Capital Management LLC now owns 69,277 shares of the bank’s stock worth $4,313,000 after purchasing an additional 27,162 shares during the period. Institutional investors own 72.77% of the company’s stock.

Preferred Bank Trading Down 1.2 %

NASDAQ:PFBC opened at $73.57 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.21. Preferred Bank has a 12 month low of $53.78 and a 12 month high of $81.13. The company has a market cap of $1.06 billion, a PE ratio of 7.10 and a beta of 0.98. The company has a 50 day simple moving average of $75.99 and a two-hundred day simple moving average of $73.96.

Preferred Bank (NASDAQ:PFBC) last posted its earnings results on Tuesday, April 23rd. The bank reported $2.44 EPS for the quarter, topping analysts’ consensus estimates of $2.40 by $0.04. Preferred Bank had a net margin of 28.70% and a return on equity of 21.28%. The business had revenue of $71.57 million during the quarter, compared to the consensus estimate of $68.60 million. Research analysts forecast that Preferred Bank will post 9.69 earnings per share for the current year.

Preferred Bank Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 19th. Shareholders of record on Friday, July 5th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date is Friday, July 5th. Preferred Bank’s dividend payout ratio (DPR) is presently 27.03%.

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 in the United States. 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.