Quantitative Systematic Strategies LLC Buys New Position in Preferred Bank (NASDAQ:PFBC)

Quantitative Systematic Strategies LLC bought a new stake in shares of Preferred Bank (NASDAQ:PFBC) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 5,735 shares of the bank’s stock, valued at approximately $271,000.

Other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in Preferred Bank by 4.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 613,310 shares of the bank’s stock worth $26,587,000 after purchasing an additional 24,728 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Preferred Bank by 9.0% during the 4th quarter. Geode Capital Management LLC now owns 169,978 shares of the bank’s stock valued at $7,368,000 after acquiring an additional 14,103 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Preferred Bank by 8.8% during the 4th quarter. Principal Financial Group Inc. now owns 131,818 shares of the bank’s stock valued at $5,714,000 after acquiring an additional 10,682 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its position in shares of Preferred Bank by 319.0% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 4,710 shares of the bank’s stock valued at $204,000 after acquiring an additional 3,586 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its position in shares of Preferred Bank by 2.2% during the 4th quarter. Thrivent Financial for Lutherans now owns 9,861 shares of the bank’s stock valued at $427,000 after acquiring an additional 216 shares during the last quarter. Institutional investors own 76.51% of the company’s stock.

Several analysts have commented on PFBC shares. ValuEngine upgraded shares of Preferred Bank from a “strong sell” rating to a “sell” rating in a research report on Thursday, June 27th. BidaskClub upgraded shares of Preferred Bank from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. Zacks Investment Research upgraded shares of Preferred Bank from a “sell” rating to a “hold” rating in a research report on Thursday, July 25th. DA Davidson set a $56.00 target price on shares of Preferred Bank and gave the company a “hold” rating in a research report on Friday, July 19th. Finally, Raymond James cut shares of Preferred Bank from a “strong-buy” rating to an “outperform” rating and set a $57.00 target price for the company. in a research report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $54.00.

Shares of Preferred Bank stock traded down $0.43 on Friday, hitting $49.96. 151 shares of the company’s stock traded hands, compared to its average volume of 79,440. The firm has a 50-day moving average price of $49.68. The company has a market cap of $756.71 million, a PE ratio of 11.01, a PEG ratio of 0.96 and a beta of 1.19. Preferred Bank has a one year low of $39.87 and a one year high of $64.14. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.22.

Preferred Bank (NASDAQ:PFBC) last issued its earnings results on Wednesday, July 17th. The bank reported $1.31 EPS for the quarter, beating the consensus estimate of $1.28 by $0.03. The company had revenue of $43.83 million during the quarter, compared to analysts’ expectations of $43.82 million. Preferred Bank had a net margin of 33.21% and a return on equity of 17.73%. Research analysts expect that Preferred Bank will post 5.21 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, July 22nd. Stockholders of record on Monday, July 8th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.40%. The ex-dividend date was Friday, July 5th. Preferred Bank’s dividend payout ratio (DPR) is 26.37%.

Preferred Bank 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 in the United States. The company's deposit products include checking, savings, and money market deposit accounts; fixed-rate and fixed maturity retail, and non-retail certificates of deposit; and individual retirement accounts.

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Institutional Ownership by Quarter for Preferred Bank (NASDAQ:PFBC)

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