John W. Rosenthal Capital Management Inc. boosted its holdings in Preferred Bank (NASDAQ:PFBC) by 54.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,975 shares of the bank’s stock after acquiring an additional 17,650 shares during the quarter. Preferred Bank accounts for 2.3% of John W. Rosenthal Capital Management Inc.’s portfolio, making the stock its 15th largest position. John W. Rosenthal Capital Management Inc. owned about 0.38% of Preferred Bank worth $3,016,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of PFBC. Phocas Financial Corp. acquired a new stake in Preferred Bank in the 2nd quarter valued at approximately $8,623,000. State Street Corp increased its position in Preferred Bank by 61.7% in the 2nd quarter. State Street Corp now owns 388,696 shares of the bank’s stock valued at $20,782,000 after acquiring an additional 148,363 shares during the period. Ameriprise Financial Inc. increased its position in Preferred Bank by 209.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 140,126 shares of the bank’s stock valued at $7,491,000 after acquiring an additional 94,905 shares during the period. Vanguard Group Inc. increased its position in Preferred Bank by 10.2% in the 1st quarter. Vanguard Group Inc. now owns 522,054 shares of the bank’s stock valued at $28,013,000 after acquiring an additional 48,266 shares during the period. Finally, New York State Common Retirement Fund increased its position in Preferred Bank by 46.7% in the 2nd quarter. New York State Common Retirement Fund now owns 114,693 shares of the bank’s stock valued at $6,133,000 after acquiring an additional 36,497 shares during the period. Hedge funds and other institutional investors own 78.52% of the company’s stock.
Several analysts recently commented on the company. FBR & Co restated a “buy” rating and issued a $70.00 target price (up from $65.00) on shares of Preferred Bank in a research report on Wednesday, October 25th. BidaskClub cut Preferred Bank from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Finally, Zacks Investment Research cut Preferred Bank from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $71.50.
Shares of Preferred Bank (NASDAQ PFBC) traded up $0.12 during mid-day trading on Friday, hitting $57.77. The stock had a trading volume of 63,900 shares, compared to its average volume of 85,866. Preferred Bank has a one year low of $40.51 and a one year high of $66.58. The firm has a market cap of $761.87, a PE ratio of 18.28, a PEG ratio of 1.73 and a beta of 0.94. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.35.
Preferred Bank (NASDAQ:PFBC) last issued its quarterly earnings results on Tuesday, October 24th. The bank reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.09. Preferred Bank had a return on equity of 15.22% and a net margin of 29.33%. The company had revenue of $36.67 million for the quarter, compared to analysts’ expectations of $34.68 million. sell-side analysts predict that Preferred Bank will post 3.34 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, October 20th. Stockholders of record on Friday, October 6th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.38%. The ex-dividend date was Thursday, October 5th. Preferred Bank’s dividend payout ratio (DPR) is presently 25.32%.
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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