SG Americas Securities LLC acquired a new stake in shares of Preferred Bank (NASDAQ:PFBC – Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,662 shares of the bank’s stock, valued at approximately $294,000.
A number of other large investors also recently modified their holdings of PFBC. LSV Asset Management grew its position in Preferred Bank by 121.0% during the 2nd quarter. LSV Asset Management now owns 171,330 shares of the bank’s stock worth $12,934,000 after acquiring an additional 93,815 shares during the last quarter. Kennedy Capital Management LLC bought a new position in Preferred Bank during the 1st quarter worth approximately $3,449,000. AQR Capital Management LLC grew its position in Preferred Bank by 24.7% during the 2nd quarter. AQR Capital Management LLC now owns 77,745 shares of the bank’s stock worth $5,869,000 after acquiring an additional 15,391 shares during the last quarter. Vanguard Group Inc. grew its position in Preferred Bank by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 868,073 shares of the bank’s stock worth $66,642,000 after acquiring an additional 10,931 shares during the last quarter. Finally, Inspire Investing LLC bought a new position in Preferred Bank during the 2nd quarter worth approximately $791,000. 72.77% of the stock is owned by hedge funds and other institutional investors.
Preferred Bank Price Performance
Shares of PFBC stock opened at $83.33 on Monday. The firm has a market cap of $1.20 billion, a P/E ratio of 8.04 and a beta of 0.95. Preferred Bank has a fifty-two week low of $58.52 and a fifty-two week high of $91.67. The business’s 50 day moving average price is $80.11 and its 200-day moving average price is $78.12. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.07 and a current ratio of 1.07.
Preferred Bank Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Monday, October 7th will be given a dividend of $0.70 per share. The ex-dividend date is Monday, October 7th. This represents a $2.80 annualized dividend and a dividend yield of 3.36%. Preferred Bank’s dividend payout ratio is presently 27.03%.
Analysts Set New Price Targets
Several research firms recently issued reports on PFBC. Stephens raised their price target on Preferred Bank from $84.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Piper Sandler lifted their price objective on Preferred Bank from $88.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th.
View Our Latest Analysis on PFBC
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.
Further Reading
- Five stocks we like better than Preferred Bank
- How Investors Can Find the Best Cheap Dividend Stocks
- Is Spotify Stock Poised to Soar? Options Traders Think So
- 5 Top Rated Dividend Stocks to Consider
- Misses and Beats: 3 Stocks That Are Moving Markets Right Now
- 3 Small Caps With Big Return Potential
- Cisco on the Rise: AI Potential and Analyst Upgrades Drive Gains
Want to see what other hedge funds are holding PFBC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Preferred Bank (NASDAQ:PFBC – Free Report).
Receive News & Ratings for Preferred Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Preferred Bank and related companies with MarketBeat.com's FREE daily email newsletter.