Preferred Bank (NASDAQ:PFBC) Shares Purchased by Federated Hermes Inc.

Federated Hermes Inc. increased its position in shares of Preferred Bank (NASDAQ:PFBC) by 0.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,228 shares of the bank’s stock after buying an additional 274 shares during the period. Federated Hermes Inc. owned 0.21% of Preferred Bank worth $2,282,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PFBC. CWM LLC grew its holdings in Preferred Bank by 96.4% in the second quarter. CWM LLC now owns 1,043 shares of the bank’s stock valued at $79,000 after purchasing an additional 512 shares during the period. SG Americas Securities LLC purchased a new position in shares of Preferred Bank during the 1st quarter valued at approximately $118,000. Picton Mahoney Asset Management acquired a new stake in Preferred Bank in the 2nd quarter valued at $161,000. Olympiad Research LP purchased a new stake in Preferred Bank in the 4th quarter worth $240,000. Finally, BOKF NA acquired a new position in Preferred Bank during the first quarter worth $296,000. Institutional investors and hedge funds own 72.77% of the company’s stock.

Preferred Bank Trading Down 2.7 %

Shares of PFBC opened at $80.95 on Friday. Preferred Bank has a 52-week low of $58.52 and a 52-week high of $91.67. The stock has a market cap of $1.17 billion, a PE ratio of 7.81 and a beta of 0.96. The firm’s fifty day moving average is $80.89 and its two-hundred day moving average is $77.18. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.21.

Preferred Bank (NASDAQ:PFBC) last posted its quarterly earnings results on Thursday, July 25th. The bank reported $2.48 earnings per share for the quarter, topping analysts’ consensus estimates of $2.39 by $0.09. Preferred Bank had a net margin of 27.35% and a return on equity of 20.24%. The firm had revenue of $130.70 million for the quarter, compared to analyst estimates of $70.55 million. During the same period in the previous year, the business posted $2.61 earnings per share. Research analysts forecast that Preferred Bank will post 9.61 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Stephens boosted their target price on shares of Preferred Bank from $84.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Piper Sandler boosted their price objective on Preferred Bank from $88.00 to $105.00 and gave the stock an “overweight” rating in a research note 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.