Cwm LLC Purchases 1,460 Shares of Preferred Bank (NASDAQ:PFBC)

Cwm LLC boosted its position in Preferred Bank (NASDAQ:PFBC) by 140.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,503 shares of the bank’s stock after acquiring an additional 1,460 shares during the period. Cwm LLC’s holdings in Preferred Bank were worth $201,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in PFBC. Point72 DIFC Ltd grew its holdings in Preferred Bank by 69.9% in the 2nd quarter. Point72 DIFC Ltd now owns 848 shares of the bank’s stock worth $64,000 after acquiring an additional 349 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Preferred Bank by 35.1% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,486 shares of the bank’s stock valued at $112,000 after purchasing an additional 386 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Preferred Bank during the 1st quarter valued at about $118,000. Picton Mahoney Asset Management bought a new stake in shares of Preferred Bank during the 2nd quarter valued at about $161,000. Finally, XTX Topco Ltd purchased a new position in Preferred Bank in the second quarter worth about $229,000. Institutional investors own 72.77% of the company’s stock.

Preferred Bank Stock Up 3.4 %

PFBC opened at $84.43 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.21. The firm has a 50 day moving average price of $80.38 and a 200-day moving average price of $78.24. Preferred Bank has a twelve month low of $58.52 and a twelve month high of $91.67. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 8.25 and a beta of 0.95.

Preferred Bank (NASDAQ:PFBC) last released its quarterly earnings data on Monday, October 21st. The bank reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.39 by $0.07. Preferred Bank had a net margin of 27.35% and a return on equity of 20.24%. The firm had revenue of $132.88 million during the quarter, compared to analysts’ expectations of $68.80 million. During the same period in the previous year, the company earned $2.71 earnings per share. Equities research analysts forecast that Preferred Bank will post 9.54 earnings per share for the current year.

Preferred Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, October 7th were issued a dividend of $0.70 per share. The ex-dividend date was Monday, October 7th. This represents a $2.80 annualized dividend and a dividend yield of 3.32%. Preferred Bank’s payout ratio is 27.37%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on PFBC shares. Stephens lifted their target price on shares of Preferred Bank from $90.00 to $94.00 and gave the stock an “overweight” rating in a report on Tuesday. Piper Sandler lifted their target price on shares of Preferred Bank from $88.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, July 29th.

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.