Public Sector Pension Investment Board lifted its stake in Preferred Bank (NASDAQ:PFBC – Free Report) by 4.4% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 27,079 shares of the bank’s stock after acquiring an additional 1,146 shares during the period. Public Sector Pension Investment Board’s holdings in Preferred Bank were worth $2,044,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of PFBC. BNP Paribas Financial Markets increased its stake in Preferred Bank by 78.3% during the 1st quarter. BNP Paribas Financial Markets now owns 15,564 shares of the bank’s stock valued at $1,195,000 after purchasing an additional 6,833 shares in the last quarter. LSV Asset Management purchased a new stake in shares of Preferred Bank during the first quarter valued at $5,951,000. Vanguard Group Inc. increased its position in shares of Preferred Bank by 1.3% in the 1st 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 period. Russell Investments Group Ltd. raised its stake in Preferred Bank by 6.2% in the 1st quarter. Russell Investments Group Ltd. now owns 15,637 shares of the bank’s stock worth $1,200,000 after acquiring an additional 919 shares during the last quarter. Finally, Quadrature Capital Ltd lifted its position in Preferred Bank by 96.7% during the 4th quarter. Quadrature Capital Ltd now owns 16,959 shares of the bank’s stock worth $1,236,000 after acquiring an additional 8,338 shares during the period. 72.77% of the stock is currently owned by institutional investors and hedge funds.
Preferred Bank Trading Up 0.2 %
NASDAQ PFBC opened at $79.64 on Monday. Preferred Bank has a 1 year low of $58.52 and a 1 year high of $91.67. 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 company has a market capitalization of $1.15 billion, a PE ratio of 7.69 and a beta of 0.96. The company has a fifty day moving average of $80.53 and a 200 day moving average of $77.40.
Preferred Bank Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Monday, October 7th will be given a $0.70 dividend. The ex-dividend date is Monday, October 7th. This represents a $2.80 annualized dividend and a yield of 3.52%. Preferred Bank’s dividend payout ratio is presently 27.03%.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on PFBC shares. Stephens increased their price objective on Preferred Bank from $84.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Piper Sandler increased their price target on shares of Preferred Bank from $88.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, July 29th.
Get Our Latest Report on Preferred Bank
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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