Preferred Bank (NASDAQ:PFBC) Stock Holdings Lifted by Amundi

Amundi increased its position in Preferred Bank (NASDAQ:PFBC) by 191.3% during the fourth quarter, Holdings Channel reports. The fund owned 5,993 shares of the bank’s stock after purchasing an additional 3,936 shares during the quarter. Amundi’s holdings in Preferred Bank were worth $511,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the company. JPMorgan Chase & Co. increased its stake in Preferred Bank by 24.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 186,107 shares of the bank’s stock valued at $14,935,000 after buying an additional 35,979 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Preferred Bank by 4.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 434,590 shares of the bank’s stock worth $37,540,000 after buying an additional 18,868 shares during the period. De Lisle Partners LLP boosted its holdings in shares of Preferred Bank by 51.8% during the third quarter. De Lisle Partners LLP now owns 41,034 shares of the bank’s stock worth $3,290,000 after purchasing an additional 14,000 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Preferred Bank by 3.6% during the third quarter. Geode Capital Management LLC now owns 352,597 shares of the bank’s stock worth $28,300,000 after purchasing an additional 12,283 shares during the period. Finally, Barclays PLC raised its position in Preferred Bank by 70.9% during the third quarter. Barclays PLC now owns 27,430 shares of the bank’s stock valued at $2,201,000 after acquiring an additional 11,379 shares in the last quarter. Institutional investors and hedge funds own 72.77% of the company’s stock.

Preferred Bank Stock Performance

Shares of NASDAQ:PFBC opened at $83.94 on Friday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $1.21 billion, a P/E ratio of 8.72 and a beta of 0.93. The business has a 50-day moving average price of $87.05 and a two-hundred day moving average price of $86.57. Preferred Bank has a 1-year low of $70.99 and a 1-year high of $99.78.

Preferred Bank (NASDAQ:PFBC) last announced its quarterly 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 net margin of 25.00% and a return on equity of 17.80%. Equities analysts predict that Preferred Bank will post 9.81 earnings per share for the current year.

Preferred Bank Dividend Announcement

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

Analysts Set New Price Targets

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

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.