Exchange Traded Concepts LLC Increases Holdings in Preferred Bank (NASDAQ:PFBC)

Exchange Traded Concepts LLC raised its stake in Preferred Bank (NASDAQ:PFBC) by 2.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,272 shares of the bank’s stock after acquiring an additional 334 shares during the period. Exchange Traded Concepts LLC owned approximately 0.11% of Preferred Bank worth $1,406,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Copeland Capital Management LLC bought a new position in Preferred Bank in the 3rd quarter worth about $54,000. Point72 DIFC Ltd raised its holdings in 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 last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Preferred Bank in the third quarter worth approximately $76,000. Point72 Asset Management L.P. grew its holdings in shares of Preferred Bank by 35.1% during the second quarter. Point72 Asset Management L.P. now owns 1,486 shares of the bank’s stock valued at $112,000 after buying an additional 386 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its position in shares of Preferred Bank by 194.1% during the third quarter. Advisors Asset Management Inc. now owns 1,906 shares of the bank’s stock valued at $153,000 after acquiring an additional 1,258 shares in the last quarter. 72.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Stephens cut Preferred Bank from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 9th.

Preferred Bank Price Performance

Shares of NASDAQ:PFBC opened at $86.56 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of 8.67 and a beta of 0.97. The business has a 50-day simple moving average of $89.51 and a two-hundred day simple moving average of $84.86. Preferred Bank has a fifty-two week low of $66.88 and a fifty-two week high of $99.78.

Preferred Bank (NASDAQ:PFBC) last released its quarterly earnings data 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 26.20% and a return on equity of 19.01%. On average, analysts expect that Preferred Bank will post 9.79 earnings per share for the current year.

Preferred Bank Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 23rd. Stockholders of record on Thursday, January 9th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 3.47%. This is a boost from Preferred Bank’s previous quarterly dividend of $0.70. The ex-dividend date was Friday, January 10th. Preferred Bank’s dividend payout ratio is presently 30.06%.

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.