Preferred Bank (NASDAQ:PFBC) Shares Purchased by De Lisle Partners LLP

De Lisle Partners LLP raised its position in Preferred Bank (NASDAQ:PFBC) by 51.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,034 shares of the bank’s stock after purchasing an additional 14,000 shares during the quarter. De Lisle Partners LLP owned about 0.28% of Preferred Bank worth $3,290,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Copeland Capital Management LLC purchased a new stake in shares of Preferred Bank during the 3rd quarter valued at approximately $54,000. Point72 DIFC Ltd increased its stake in Preferred Bank by 69.9% during the second quarter. Point72 DIFC Ltd now owns 848 shares of the bank’s stock worth $64,000 after acquiring an additional 349 shares during the last quarter. CWM LLC raised its position in Preferred Bank by 96.4% in the second quarter. CWM LLC now owns 1,043 shares of the bank’s stock valued at $79,000 after purchasing an additional 512 shares during the period. Point72 Asset Management L.P. lifted its stake in shares of Preferred Bank by 35.1% in 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 last quarter. Finally, Advisors Asset Management Inc. grew its holdings in shares of Preferred Bank by 194.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,906 shares of the bank’s stock worth $153,000 after purchasing an additional 1,258 shares during the period. Hedge funds and other institutional investors own 72.77% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Preferred Bank Stock Up 0.1 %

Preferred Bank stock opened at $95.70 on Thursday. The company has a market capitalization of $1.38 billion, a PE ratio of 9.59 and a beta of 0.94. 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 has a fifty-two week low of $61.24 and a fifty-two week high of $99.78. The firm has a 50 day moving average price of $85.99 and a 200 day moving average price of $80.88.

Preferred Bank (NASDAQ:PFBC) last issued its quarterly earnings data on Monday, October 21st. The bank reported $2.46 earnings per share for the quarter, beating analysts’ consensus estimates of $2.39 by $0.07. The business had revenue of $132.88 million during the quarter, compared to analysts’ expectations of $68.80 million. Preferred Bank had a return on equity of 19.01% and a net margin of 26.20%. During the same period in the previous year, the firm posted $2.71 earnings per share. Research analysts expect that Preferred Bank will post 9.75 earnings per share for the current year.

Preferred Bank Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were paid a dividend of $0.70 per share. The ex-dividend date was Monday, October 7th. This represents a $2.80 dividend on an annualized basis and a yield of 2.93%. Preferred Bank’s dividend payout ratio (DPR) is presently 28.06%.

Preferred Bank 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.