Preferred Bank (NASDAQ:PFBC) Hits New 52-Week High at $79.77

Preferred Bank (NASDAQ:PFBC) hit a new 52-week high on Thursday . The company traded as high as $79.77 and last traded at $79.77, with a volume of 20875 shares traded. The stock had previously closed at $78.20.

Preferred Bank Stock Up 1.9 %

The stock has a market cap of $1.15 billion, a P/E ratio of 7.66 and a beta of 1.02. The firm has a 50 day simple moving average of $74.36 and a 200-day simple moving average of $70.38. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Friday, April 5th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend was Thursday, April 4th. Preferred Bank’s dividend payout ratio is 27.03%.

Hedge Funds Weigh In On Preferred Bank

Large investors have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new position in Preferred Bank in the 3rd quarter valued at about $232,000. Robeco Institutional Asset Management B.V. bought a new position in shares of Preferred Bank during the third quarter worth approximately $311,000. BluePath Capital Management LLC acquired a new stake in Preferred Bank during the 3rd quarter worth approximately $33,000. Yousif Capital Management LLC lifted its holdings in Preferred Bank by 2.9% during the 3rd quarter. Yousif Capital Management LLC now owns 7,149 shares of the bank’s stock worth $445,000 after purchasing an additional 200 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its stake in Preferred Bank by 39.1% in the 3rd quarter. Teacher Retirement System of Texas now owns 15,109 shares of the bank’s stock valued at $941,000 after purchasing an additional 4,245 shares during the period. 72.77% of the stock is owned by institutional investors.

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.