Renaissance Technologies LLC trimmed its position in Preferred Bank (NASDAQ:PFBC – Free Report) by 15.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 74,355 shares of the bank’s stock after selling 14,100 shares during the quarter. Renaissance Technologies LLC’s holdings in Preferred Bank were worth $5,613,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in PFBC. CWM LLC raised its position in shares of Preferred Bank by 96.4% during the 2nd quarter. CWM LLC now owns 1,043 shares of the bank’s stock valued at $79,000 after buying an additional 512 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Preferred Bank during the first quarter valued at $118,000. Picton Mahoney Asset Management purchased a new stake in shares of Preferred Bank in the 2nd quarter worth approximately $161,000. Olympiad Research LP purchased a new stake in Preferred Bank during the fourth quarter worth $240,000. Finally, BOKF NA bought a new stake in Preferred Bank during the first quarter valued at about $296,000. Institutional investors own 72.77% of the company’s stock.
Preferred Bank Stock Up 0.4 %
Preferred Bank stock opened at $79.48 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market capitalization of $1.15 billion, a PE ratio of 7.67 and a beta of 0.96. Preferred Bank has a 12 month low of $58.52 and a 12 month high of $91.67. The business has a 50 day simple moving average of $80.61 and a 200-day simple moving average of $77.33.
Preferred Bank Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Monday, October 7th will be issued a $0.70 dividend. The ex-dividend date is Monday, October 7th. This represents a $2.80 annualized dividend and a dividend yield of 3.52%. Preferred Bank’s dividend payout ratio is presently 27.03%.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on PFBC shares. Piper Sandler upped their price target on Preferred Bank from $88.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Stephens increased their price target on Preferred Bank from $84.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th.
Read Our Latest Report on PFBC
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.
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