Copeland Capital Management LLC Purchases 118 Shares of Preferred Bank $PFBC

Copeland Capital Management LLC increased its position in Preferred Bank (NASDAQ:PFBC) by 16.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 845 shares of the bank’s stock after buying an additional 118 shares during the quarter. Copeland Capital Management LLC’s holdings in Preferred Bank were worth $73,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PFBC. NBC Securities Inc. bought a new stake in Preferred Bank in the first quarter valued at approximately $25,000. Meeder Asset Management Inc. bought a new stake in Preferred Bank in the first quarter valued at approximately $55,000. Wealth Enhancement Advisory Services LLC bought a new stake in Preferred Bank in the fourth quarter valued at approximately $209,000. CWM LLC lifted its position in Preferred Bank by 10.7% in the first quarter. CWM LLC now owns 2,779 shares of the bank’s stock valued at $232,000 after purchasing an additional 269 shares during the last quarter. Finally, Corton Capital Inc. bought a new stake in Preferred Bank in the first quarter valued at approximately $238,000. Institutional investors own 72.77% of the company’s stock.

Preferred Bank Trading Up 0.4%

NASDAQ PFBC opened at $90.03 on Friday. Preferred Bank has a 12 month low of $71.90 and a 12 month high of $99.78. The stock has a market cap of $1.30 billion, a P/E ratio of 9.52 and a beta of 0.71. The stock’s fifty day moving average price is $92.57 and its 200-day moving average price is $87.31. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.47.

Preferred Bank (NASDAQ:PFBC) last released its quarterly earnings data on Monday, July 21st. The bank reported $2.52 EPS for the quarter, beating the consensus estimate of $2.43 by $0.09. Preferred Bank had a return on equity of 16.64% and a net margin of 25.04%.The company had revenue of $69.05 million for the quarter, compared to analysts’ expectations of $70.96 million. As a group, equities analysts forecast that Preferred Bank will post 9.81 EPS for the current fiscal year.

Preferred Bank Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 21st. Shareholders of record on Tuesday, October 7th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Tuesday, October 7th. This represents a $3.00 dividend on an annualized basis and a yield of 3.3%. Preferred Bank’s dividend payout ratio is currently 31.71%.

Analysts Set New Price Targets

Several analysts have weighed in on PFBC shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Preferred Bank in a research report on Saturday, September 27th. Piper Sandler upped their target price on Preferred Bank from $96.00 to $112.00 and gave the company an “overweight” rating in a report on Tuesday, July 22nd. Finally, DA Davidson upped their target price on Preferred Bank from $90.00 to $108.00 and gave the company a “neutral” rating in a report on Tuesday, July 22nd. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $103.67.

About Preferred Bank

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.