Allspring Global Investments Holdings LLC Grows Stock Position in Preferred Bank (NASDAQ:PFBC)

Allspring Global Investments Holdings LLC grew its position in Preferred Bank (NASDAQ:PFBC) by 140.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,983 shares of the bank’s stock after acquiring an additional 4,077 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Preferred Bank were worth $510,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. AE Wealth Management LLC acquired a new stake in shares of Preferred Bank in the third quarter valued at approximately $538,000. SG Americas Securities LLC acquired a new stake in Preferred Bank during the third quarter worth $232,000. Robeco Institutional Asset Management B.V. acquired a new stake in Preferred Bank during the third quarter worth $311,000. BluePath Capital Management LLC acquired a new stake in Preferred Bank during the third quarter worth $33,000. Finally, Yousif Capital Management LLC increased its stake in Preferred Bank by 2.9% during the third quarter. Yousif Capital Management LLC now owns 7,149 shares of the bank’s stock worth $445,000 after acquiring an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 72.77% of the company’s stock.

Preferred Bank Price Performance

PFBC stock opened at $77.47 on Friday. The business has a fifty day moving average of $73.72 and a two-hundred day moving average of $69.80. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.21. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 7.48 and a beta of 1.04. Preferred Bank has a 52-week low of $42.42 and a 52-week high of $79.08.

Preferred Bank (NASDAQ:PFBC) last issued its quarterly earnings data on Thursday, January 25th. The bank reported $2.60 earnings per share for the quarter, beating analysts’ consensus estimates of $2.54 by $0.06. Preferred Bank had a return on equity of 21.28% and a net margin of 28.70%. The business had revenue of $127.07 million during the quarter, compared to analysts’ expectations of $72.84 million. During the same period in the previous year, the firm posted $2.71 earnings per share. As a group, research analysts anticipate that Preferred Bank will post 9.13 earnings per share for the current year.

Preferred Bank Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Friday, April 5th were issued a $0.70 dividend. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $2.80 dividend on an annualized basis and a yield of 3.61%. Preferred Bank’s dividend payout ratio (DPR) is presently 27.03%.

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 accepts checking, savings, and money market deposit accounts; fixed-rate and fixed maturity retail, and non-retail certificates of deposit; and individual retirement accounts.