American Century Companies Inc. Sells 9,012 Shares of Preferred Bank (NASDAQ:PFBC)

American Century Companies Inc. cut its stake in Preferred Bank (NASDAQ:PFBC) by 4.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 204,465 shares of the bank’s stock after selling 9,012 shares during the period. American Century Companies Inc. owned about 1.42% of Preferred Bank worth $15,435,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its holdings in shares of Preferred Bank by 78.3% in the 1st quarter. BNP Paribas Financial Markets now owns 15,564 shares of the bank’s stock worth $1,195,000 after purchasing an additional 6,833 shares in the last quarter. LSV Asset Management purchased a new stake in Preferred Bank in the first quarter worth approximately $5,951,000. Vanguard Group Inc. grew its position in Preferred Bank by 1.3% during the first quarter. Vanguard Group Inc. now owns 868,073 shares of the bank’s stock valued at $66,642,000 after acquiring an additional 10,931 shares during the last quarter. Russell Investments Group Ltd. grew its position in Preferred Bank by 6.2% during the first quarter. Russell Investments Group Ltd. now owns 15,637 shares of the bank’s stock valued at $1,200,000 after acquiring an additional 919 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Preferred Bank by 1.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 667,256 shares of the bank’s stock worth $48,745,000 after acquiring an additional 10,259 shares in the last quarter. Institutional investors own 72.77% of the company’s stock.

Preferred Bank Stock Performance

Shares of PFBC stock opened at $80.95 on Friday. The company has a market capitalization of $1.17 billion, a P/E ratio of 7.81 and a beta of 0.96. Preferred Bank has a fifty-two week low of $58.52 and a fifty-two week high of $91.67. 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 stock has a 50 day moving average price of $80.89 and a two-hundred day moving average price of $77.18.

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Piper Sandler increased their target price on shares of Preferred Bank from $88.00 to $105.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Stephens raised their price objective on Preferred Bank from $84.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th.

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.