Inspire Investing LLC Acquires New Position in Preferred Bank (NASDAQ:PFBC)

Inspire Investing LLC acquired a new stake in shares of Preferred Bank (NASDAQ:PFBC) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 10,473 shares of the bank’s stock, valued at approximately $791,000. Inspire Investing LLC owned approximately 0.07% of Preferred Bank as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. CWM LLC increased its holdings in shares of Preferred Bank by 96.4% in the 2nd quarter. CWM LLC now owns 1,043 shares of the bank’s stock worth $79,000 after purchasing an additional 512 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Preferred Bank in the 1st quarter worth $118,000. Picton Mahoney Asset Management bought a new stake in shares of Preferred Bank in the 2nd quarter worth $161,000. XTX Topco Ltd bought a new stake in shares of Preferred Bank in the 2nd quarter worth $229,000. Finally, Olympiad Research LP bought a new stake in shares of Preferred Bank in the 4th quarter worth $240,000. 72.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PFBC has been the subject of a number of research analyst reports. Piper Sandler lifted their target price on Preferred Bank from $88.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Stephens lifted their target price on Preferred Bank from $84.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th.

Preferred Bank Stock Performance

Shares of PFBC opened at $80.95 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.07 and a quick ratio of 1.07. Preferred Bank has a one year low of $58.52 and a one year high of $91.67. The firm has a market capitalization of $1.17 billion, a P/E ratio of 7.81 and a beta of 0.96. The business has a fifty day moving average of $80.89 and a 200 day moving average of $77.18.

Preferred Bank (NASDAQ:PFBC) last issued its quarterly earnings data on Thursday, July 25th. The bank reported $2.48 EPS for the quarter, topping the consensus estimate of $2.39 by $0.09. Preferred Bank had a return on equity of 20.24% and a net margin of 27.35%. The company had revenue of $130.70 million during the quarter, compared to analyst estimates of $70.55 million. During the same quarter in the previous year, the company posted $2.61 earnings per share. As a group, sell-side analysts anticipate that Preferred Bank will post 9.61 EPS for the current year.

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.