Intrust Bank NA Increases Holdings in Preferred Bank (NASDAQ:PFBC)

Intrust Bank NA boosted its position in Preferred Bank (NASDAQ:PFBC) by 18.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,835 shares of the bank’s stock after buying an additional 1,404 shares during the period. Intrust Bank NA’s holdings in Preferred Bank were worth $763,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Advisors Asset Management Inc. grew its position in 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. Charles Schwab Investment Management Inc. grew its holdings in Preferred Bank by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 415,722 shares of the bank’s stock worth $33,362,000 after acquiring an additional 7,086 shares during the period. Quantbot Technologies LP raised its position in Preferred Bank by 169.6% during the third quarter. Quantbot Technologies LP now owns 8,102 shares of the bank’s stock valued at $650,000 after acquiring an additional 5,097 shares in the last quarter. FMR LLC lifted its holdings in Preferred Bank by 4.2% in the third quarter. FMR LLC now owns 6,674 shares of the bank’s stock valued at $536,000 after acquiring an additional 271 shares during the period. Finally, Martingale Asset Management L P purchased a new stake in Preferred Bank in the 3rd quarter worth approximately $425,000. Institutional investors and hedge funds own 72.77% of the company’s stock.

Preferred Bank Trading Down 1.7 %

Shares of NASDAQ:PFBC opened at $83.98 on Friday. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 8.72 and a beta of 0.93. The business’s 50 day moving average price is $87.10 and its 200-day moving average price is $86.84. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.08 and a quick ratio of 1.08. Preferred Bank has a 1 year low of $70.99 and a 1 year high of $99.78.

Preferred Bank (NASDAQ:PFBC) last released its earnings results on Monday, January 27th. The bank reported $2.25 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.17). Preferred Bank had a return on equity of 17.80% and a net margin of 25.00%. On average, equities research analysts forecast that Preferred Bank will post 9.81 earnings per share for the current fiscal year.

Preferred Bank Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be given a $0.75 dividend. The ex-dividend date of this dividend is Monday, April 7th. This represents a $3.00 annualized dividend and a dividend yield of 3.57%. Preferred Bank’s dividend payout ratio (DPR) is presently 31.15%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PFBC shares. Stephens reaffirmed an “equal weight” rating and set a $100.00 target price on shares of Preferred Bank in a report on Thursday, January 30th. Piper Sandler upped their price objective on shares of Preferred Bank from $101.00 to $111.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, DA Davidson raised their target price on Preferred Bank from $98.00 to $101.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th.

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.