Context BH Capital Management LP lessened its position in Preferred Bank (NASDAQ:PFBC) by 7.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 65,777 shares of the bank’s stock after selling 4,925 shares during the quarter. Preferred Bank makes up about 1.3% of Context BH Capital Management LP’s investment portfolio, making the stock its 25th largest holding. Context BH Capital Management LP owned about 0.50% of Preferred Bank worth $3,970,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. lifted its stake in shares of Preferred Bank by 5.1% in the 2nd quarter. Advisors Asset Management Inc. now owns 18,970 shares of the bank’s stock valued at $1,014,000 after purchasing an additional 929 shares during the period. FMR LLC lifted its stake in shares of Preferred Bank by 1.5% in the 1st quarter. FMR LLC now owns 218,598 shares of the bank’s stock valued at $11,730,000 after purchasing an additional 3,160 shares during the period. Systematic Financial Management LP lifted its stake in shares of Preferred Bank by 23.8% in the 2nd quarter. Systematic Financial Management LP now owns 136,205 shares of the bank’s stock valued at $7,283,000 after purchasing an additional 26,195 shares during the period. Principal Financial Group Inc. purchased a new position in shares of Preferred Bank in the 2nd quarter valued at approximately $369,000. Finally, Capital Fund Management S.A. purchased a new position in shares of Preferred Bank in the 2nd quarter valued at approximately $283,000. Institutional investors own 79.00% of the company’s stock.
Shares of Preferred Bank (NASDAQ PFBC) traded up $0.12 during trading hours on Monday, reaching $57.77. The company’s stock had a trading volume of 63,900 shares, compared to its average volume of 82,946. The stock has a market capitalization of $761.87, a PE ratio of 18.28, a price-to-earnings-growth ratio of 1.73 and a beta of 0.94. Preferred Bank has a 1-year low of $40.51 and a 1-year high of $66.58. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.35.
Preferred Bank (NASDAQ:PFBC) last announced its quarterly earnings data on Tuesday, October 24th. The bank reported $0.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.09. The business had revenue of $36.67 million during the quarter, compared to analysts’ expectations of $34.68 million. Preferred Bank had a return on equity of 15.22% and a net margin of 29.33%. sell-side analysts predict that Preferred Bank will post 3.34 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 20th. Shareholders of record on Friday, October 6th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date was Thursday, October 5th. Preferred Bank’s payout ratio is 25.32%.
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A number of research firms have recently commented on PFBC. FBR & Co restated a “buy” rating and issued a $70.00 target price (up previously from $65.00) on shares of Preferred Bank in a research note on Wednesday, October 25th. BidaskClub cut Preferred Bank from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Finally, Zacks Investment Research cut Preferred Bank from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $71.50.
Preferred Bank Company Profile
Preferred Bank is a commercial bank. The Bank provides deposit services, as well as real estate finance, commercial loans and trade finance to small and mid-sized businesses and their owners, entrepreneurs, real estate developers and investors, professionals and high net worth individuals. The Bank offers various services, such as personal banking, business banking and treasury management.
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