Preferred Bank (NASDAQ:PFBC) Shares Sold by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC reduced its position in Preferred Bank (NASDAQ:PFBC) by 4.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 36,089 shares of the bank’s stock after selling 1,807 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in Preferred Bank were worth $3,117,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Picton Mahoney Asset Management increased its stake in shares of Preferred Bank by 110.7% during the fourth quarter. Picton Mahoney Asset Management now owns 550 shares of the bank’s stock worth $47,000 after acquiring an additional 289 shares during the period. Smartleaf Asset Management LLC increased its position in Preferred Bank by 217.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 562 shares of the bank’s stock worth $49,000 after purchasing an additional 385 shares during the period. R Squared Ltd purchased a new position in shares of Preferred Bank during the 4th quarter worth approximately $65,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Preferred Bank in the 3rd quarter valued at approximately $76,000. Finally, KBC Group NV boosted its stake in shares of Preferred Bank by 46.2% in the fourth quarter. KBC Group NV now owns 914 shares of the bank’s stock valued at $79,000 after buying an additional 289 shares in the last quarter. Hedge funds and other institutional investors own 72.77% of the company’s stock.

Analysts Set New Price Targets

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

Preferred Bank Trading Up 0.4 %

Shares of PFBC stock opened at $84.15 on Thursday. The stock has a market cap of $1.21 billion, a P/E ratio of 8.74 and a beta of 0.71. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.19. Preferred Bank has a fifty-two week low of $70.99 and a fifty-two week high of $99.78. The business has a fifty day simple moving average of $86.91 and a 200-day simple moving average of $86.95.

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

Preferred Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be given a dividend of $0.75 per share. The ex-dividend date is Monday, April 7th. This represents a $3.00 annualized dividend and a dividend yield of 3.57%. Preferred Bank’s dividend payout ratio is currently 31.15%.

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.