BNP Paribas Financial Markets Decreases Stock Position in Preferred Bank (NASDAQ:PFBC)

BNP Paribas Financial Markets lowered its stake in Preferred Bank (NASDAQ:PFBC) by 5.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 13,157 shares of the bank’s stock after selling 794 shares during the period. BNP Paribas Financial Markets’ holdings in Preferred Bank were worth $1,056,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of PFBC. Copeland Capital Management LLC purchased a new position in shares of Preferred Bank in the third quarter worth about $54,000. Point72 DIFC Ltd increased its holdings 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 buying an additional 349 shares during the period. CWM LLC increased its holdings in shares of Preferred Bank by 96.4% in the second quarter. CWM LLC now owns 1,043 shares of the bank’s stock worth $79,000 after buying an additional 512 shares during the period. Point72 Asset Management L.P. increased its holdings 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. increased its holdings in Preferred Bank by 194.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,906 shares of the bank’s stock valued at $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.

Preferred Bank Stock Down 0.0 %

Shares of NASDAQ:PFBC opened at $93.09 on Wednesday. Preferred Bank has a 1 year low of $66.63 and a 1 year high of $99.78. The company has a market cap of $1.34 billion, a PE ratio of 9.33 and a beta of 0.96. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.08 and a quick ratio of 1.08. The stock’s 50-day moving average is $88.51 and its 200 day moving average is $81.90.

Preferred Bank (NASDAQ:PFBC) last announced its quarterly earnings results on Monday, October 21st. The bank reported $2.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.39 by $0.07. Preferred Bank had a return on equity of 19.01% and a net margin of 26.20%. The company had revenue of $132.88 million for the quarter, compared to the consensus estimate of $68.80 million. During the same quarter in the previous year, the business earned $2.71 EPS. Sell-side analysts anticipate that Preferred Bank will post 9.75 EPS for the current year.

Preferred Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were issued 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 dividend yield of 3.01%. Preferred Bank’s dividend payout ratio (DPR) is 28.06%.

Analyst Ratings Changes

Separately, Stephens downgraded Preferred Bank from an “overweight” rating to an “equal weight” rating in a report on Monday.

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.