BNP Paribas Financial Markets Sells 794 Shares of Preferred Bank (NASDAQ:PFBC)

BNP Paribas Financial Markets decreased its holdings in shares of Preferred Bank (NASDAQ:PFBC) by 5.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,157 shares of the bank’s stock after selling 794 shares during the period. BNP Paribas Financial Markets owned approximately 0.09% of Preferred Bank worth $1,056,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. SummerHaven Investment Management LLC boosted its stake in Preferred Bank by 1.6% during the second quarter. SummerHaven Investment Management LLC now owns 12,846 shares of the bank’s stock valued at $970,000 after buying an additional 201 shares during the period. WINTON GROUP Ltd boosted its stake in Preferred Bank by 1.7% during the second quarter. WINTON GROUP Ltd now owns 13,970 shares of the bank’s stock valued at $1,055,000 after buying an additional 232 shares during the period. FMR LLC boosted its stake in Preferred Bank by 4.2% during the third quarter. FMR LLC now owns 6,674 shares of the bank’s stock valued at $536,000 after buying an additional 271 shares during the period. Federated Hermes Inc. boosted its stake in Preferred Bank by 0.9% during the second quarter. Federated Hermes Inc. now owns 30,228 shares of the bank’s stock valued at $2,282,000 after buying an additional 274 shares during the period. Finally, Sei Investments Co. boosted its stake in Preferred Bank by 6.7% during the second quarter. Sei Investments Co. now owns 5,137 shares of the bank’s stock valued at $388,000 after buying an additional 323 shares during the period. Institutional investors own 72.77% of the company’s stock.

Analysts Set New Price Targets

Separately, Stephens lowered Preferred Bank from an “overweight” rating to an “equal weight” rating in a research note on Monday.

Preferred Bank Trading Down 0.0 %

Shares of PFBC stock opened at $93.09 on Wednesday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.20. The business has a 50-day moving average price of $88.51 and a two-hundred day moving average price of $81.90. Preferred Bank has a 12-month low of $66.63 and a 12-month high of $99.78. The firm has a market cap of $1.34 billion, a P/E ratio of 9.33 and a beta of 0.96.

Preferred Bank (NASDAQ:PFBC) last issued its quarterly earnings results on Monday, October 21st. The bank reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.39 by $0.07. Preferred Bank had a return on equity of 19.01% and a net margin of 26.20%. The firm had revenue of $132.88 million during the quarter, compared to analyst estimates of $68.80 million. During the same quarter in the previous year, the company posted $2.71 earnings per share. Equities analysts anticipate that Preferred Bank will post 9.75 EPS for the current fiscal year.

Preferred Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.01%. The ex-dividend date was Monday, October 7th. Preferred Bank’s dividend payout ratio (DPR) is currently 28.06%.

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.