Preferred Bank (NASDAQ:PFBC) Stake Raised by Jane Street Group LLC

Jane Street Group LLC lifted its holdings in Preferred Bank (NASDAQ:PFBC) by 43.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,879 shares of the bank’s stock after purchasing an additional 6,056 shares during the period. Jane Street Group LLC owned about 0.14% of Preferred Bank worth $1,595,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Dimensional Fund Advisors LP boosted its position in shares of Preferred Bank by 0.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 680,337 shares of the bank’s stock valued at $51,357,000 after purchasing an additional 4,539 shares during the period. State Street Corp lifted its position in shares of Preferred Bank by 0.4% in the 3rd quarter. State Street Corp now owns 592,566 shares of the bank’s stock valued at $47,553,000 after acquiring an additional 2,339 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Preferred Bank by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 415,722 shares of the bank’s stock worth $33,362,000 after purchasing an additional 7,086 shares in the last quarter. LSV Asset Management raised its stake in Preferred Bank by 121.0% during the 2nd quarter. LSV Asset Management now owns 171,330 shares of the bank’s stock valued at $12,934,000 after purchasing an additional 93,815 shares during the period. Finally, Dana Investment Advisors Inc. lifted its holdings in shares of Preferred Bank by 7.4% in the second quarter. Dana Investment Advisors Inc. now owns 98,591 shares of the bank’s stock valued at $7,443,000 after purchasing an additional 6,809 shares in the last quarter. 72.77% of the stock is currently owned by institutional investors.

Preferred Bank Stock Up 0.7 %

Shares of Preferred Bank stock opened at $87.34 on Friday. The stock has a 50-day simple moving average of $90.35 and a 200-day simple moving average of $82.98. Preferred Bank has a 52-week low of $66.88 and a 52-week high of $99.78. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of 8.75 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.

Preferred Bank (NASDAQ:PFBC) last announced its quarterly earnings results 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 net margin of 26.20% and a return on equity of 19.01%. The company had revenue of $132.88 million for the quarter, compared to analyst estimates of $68.80 million. During the same quarter in the prior year, the business posted $2.71 EPS. On average, equities research analysts expect that Preferred Bank will post 9.75 earnings per share for the current fiscal year.

Preferred Bank Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 23rd. Shareholders of record on Thursday, January 9th will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.43%. This is a boost from Preferred Bank’s previous quarterly dividend of $0.70. Preferred Bank’s payout ratio is currently 28.06%.

Analyst Upgrades and Downgrades

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

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.