New York State Teachers Retirement System Reduces Position in Preferred Bank (NASDAQ:PFBC)

New York State Teachers Retirement System decreased its stake in shares of Preferred Bank (NASDAQ:PFBC) by 1.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,230 shares of the bank’s stock after selling 233 shares during the period. New York State Teachers Retirement System owned 0.09% of Preferred Bank worth $966,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Financial Management Professionals Inc. purchased a new position in Preferred Bank during the third quarter worth $28,000. BluePath Capital Management LLC purchased a new stake in shares of Preferred Bank in the third quarter valued at $33,000. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Preferred Bank in the fourth quarter valued at $34,000. Captrust Financial Advisors grew its position in shares of Preferred Bank by 887.8% in the first quarter. Captrust Financial Advisors now owns 484 shares of the bank’s stock valued at $36,000 after purchasing an additional 435 shares during the period. Finally, Coppell Advisory Solutions Corp. purchased a new stake in shares of Preferred Bank in the fourth quarter valued at $44,000. Hedge funds and other institutional investors own 72.77% of the company’s stock.

Preferred Bank Price Performance

Shares of NASDAQ:PFBC opened at $72.24 on Friday. The company has a market cap of $1.04 billion, a P/E ratio of 6.86 and a beta of 1.04. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.21. Preferred Bank has a 52 week low of $42.42 and a 52 week high of $77.65. The business has a fifty day simple moving average of $73.14 and a 200-day simple moving average of $69.32.

Preferred Bank (NASDAQ:PFBC) last announced its quarterly earnings data on Thursday, January 25th. The bank reported $2.60 EPS for the quarter, beating analysts’ consensus estimates of $2.54 by $0.06. The business had revenue of $127.07 million during the quarter, compared to the consensus estimate of $72.84 million. Preferred Bank had a return on equity of 22.30% and a net margin of 30.93%. During the same quarter in the previous year, the business earned $2.71 earnings per share. Equities research analysts forecast that Preferred Bank will post 9.13 EPS for the current year.

Preferred Bank Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 19th. Investors of record on Friday, April 5th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date is Thursday, April 4th. Preferred Bank’s payout ratio is currently 26.59%.

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 in the United States. 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.