Preferred Bank (NASDAQ:PFBC) Stock Position Raised by Quantbot Technologies LP

Quantbot Technologies LP lifted its holdings in Preferred Bank (NASDAQ:PFBC) by 169.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,102 shares of the bank’s stock after purchasing an additional 5,097 shares during the period. Quantbot Technologies LP owned 0.06% of Preferred Bank worth $650,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Copeland Capital Management LLC bought a new position in Preferred Bank in the 3rd quarter worth $54,000. Point72 DIFC Ltd increased its stake in shares of Preferred Bank by 69.9% in the second quarter. Point72 DIFC Ltd now owns 848 shares of the bank’s stock worth $64,000 after purchasing an additional 349 shares during the period. CWM LLC lifted 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 worth $79,000 after purchasing an additional 512 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in Preferred Bank by 35.1% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,486 shares of the bank’s stock valued at $112,000 after purchasing an additional 386 shares during the period. Finally, Advisors Asset Management Inc. grew its holdings in Preferred Bank by 194.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,906 shares of the bank’s stock valued at $153,000 after buying an additional 1,258 shares during the last quarter. Institutional investors and hedge funds own 72.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Stephens raised their price objective on shares of Preferred Bank from $90.00 to $94.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd.

Preferred Bank Stock Up 0.3 %

NASDAQ PFBC opened at $94.64 on Tuesday. Preferred Bank has a twelve month low of $63.90 and a twelve month high of $99.78. The stock has a market cap of $1.37 billion, a PE ratio of 9.48 and a beta of 0.94. The firm has a 50-day simple moving average of $86.78 and a 200 day simple moving average of $81.22. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.08 and a current ratio of 1.08.

Preferred Bank (NASDAQ:PFBC) last announced its quarterly earnings data on Monday, October 21st. The bank reported $2.46 EPS for the quarter, topping analysts’ consensus estimates of $2.39 by $0.07. The company had revenue of $132.88 million during the quarter, compared to the consensus estimate of $68.80 million. Preferred Bank had a return on equity of 19.01% and a net margin of 26.20%. During the same quarter last year, the company earned $2.71 EPS. On average, research analysts forecast that Preferred Bank will post 9.75 EPS for the current year.

Preferred Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.96%. The ex-dividend date was Monday, October 7th. Preferred Bank’s dividend payout ratio (DPR) is presently 28.06%.

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.