Victory Capital Management Inc. cut its holdings in Preferred Bank (NASDAQ:PFBC – Free Report) by 0.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 24,285 shares of the bank’s stock after selling 180 shares during the quarter. Victory Capital Management Inc. owned about 0.17% of Preferred Bank worth $1,833,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in PFBC. LSV Asset Management acquired a new stake in Preferred Bank in the 1st quarter valued at approximately $5,951,000. Kennedy Capital Management LLC acquired a new stake in Preferred Bank in the first quarter valued at $3,449,000. Trexquant Investment LP bought a new position in Preferred Bank during the fourth quarter worth about $942,000. Vanguard Group Inc. increased its holdings in shares of 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, Dimensional Fund Advisors LP increased its holdings in shares of Preferred Bank by 1.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 667,256 shares of the bank’s stock valued at $48,745,000 after purchasing an additional 10,259 shares during the last quarter. Institutional investors own 72.77% of the company’s stock.
Preferred Bank Stock Up 0.3 %
Shares of NASDAQ:PFBC opened at $81.14 on Thursday. Preferred Bank has a 52-week low of $58.52 and a 52-week high of $91.67. The company has a fifty day moving average of $80.64 and a 200-day moving average of $77.08. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market capitalization of $1.17 billion, a PE ratio of 7.83 and a beta of 0.96.
Analysts Set New Price Targets
A number of equities analysts have recently weighed in on PFBC shares. Piper Sandler increased their target price on Preferred Bank from $88.00 to $105.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Stephens upped their price target on shares of Preferred Bank from $84.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th.
Get Our Latest Stock Report on PFBC
Preferred Bank 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.
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