UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 1,117 Shares of Preferred Bank (NASDAQ:PFBC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in shares of Preferred Bank (NASDAQ:PFBC) by 4.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,161 shares of the bank’s stock after selling 1,117 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.15% of Preferred Bank worth $1,778,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Copeland Capital Management LLC bought a new position in shares of Preferred Bank during the 3rd quarter worth about $54,000. Point72 DIFC Ltd raised its stake in Preferred Bank by 69.9% during the 2nd quarter. Point72 DIFC Ltd now owns 848 shares of the bank’s stock worth $64,000 after buying an additional 349 shares during the period. CWM LLC boosted its holdings in Preferred Bank by 96.4% in the second quarter. CWM LLC now owns 1,043 shares of the bank’s stock worth $79,000 after acquiring an additional 512 shares in the last quarter. Point72 Asset Management L.P. grew its stake in Preferred Bank by 35.1% in the second quarter. Point72 Asset Management L.P. now owns 1,486 shares of the bank’s stock valued at $112,000 after acquiring an additional 386 shares during the period. Finally, Advisors Asset Management Inc. increased its holdings in shares of Preferred Bank by 194.1% during the third quarter. Advisors Asset Management Inc. now owns 1,906 shares of the bank’s stock valued at $153,000 after acquiring an additional 1,258 shares in the last quarter. 72.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Stephens cut Preferred Bank from an “overweight” rating to an “equal weight” rating in a report on Monday, December 9th.

Preferred Bank Trading Up 0.8 %

PFBC opened at $93.06 on Tuesday. Preferred Bank has a fifty-two week low of $66.88 and a fifty-two week high of $99.78. The firm has a market capitalization of $1.34 billion, a PE ratio of 9.31 and a beta of 0.96. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.08 and a quick ratio of 1.08. The company’s 50-day moving average is $89.37 and its 200 day moving average is $82.27.

Preferred Bank (NASDAQ:PFBC) last issued its quarterly earnings data on Monday, October 21st. The bank reported $2.46 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 the consensus estimate of $68.80 million. During the same period in the prior year, the business posted $2.71 earnings per share. As a group, research analysts predict that Preferred Bank will post 9.75 earnings per share for the current fiscal year.

Preferred Bank Dividend Announcement

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

Preferred Bank Company Profile

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.