American Century Companies Inc. Has $17.24 Million Holdings in Preferred Bank (NASDAQ:PFBC)

American Century Companies Inc. increased its holdings in Preferred Bank (NASDAQ:PFBC) by 44.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 199,628 shares of the bank’s stock after buying an additional 61,655 shares during the period. American Century Companies Inc. owned 1.38% of Preferred Bank worth $17,244,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in PFBC. Charles Schwab Investment Management Inc. raised its holdings in Preferred Bank by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 415,722 shares of the bank’s stock valued at $33,362,000 after acquiring an additional 7,086 shares in the last quarter. Quantbot Technologies LP increased its position in shares of Preferred Bank by 169.6% in the third quarter. Quantbot Technologies LP now owns 8,102 shares of the bank’s stock worth $650,000 after purchasing an additional 5,097 shares during the period. FMR LLC raised its stake in Preferred Bank by 4.2% in the third quarter. FMR LLC now owns 6,674 shares of the bank’s stock valued at $536,000 after purchasing an additional 271 shares in the last quarter. Martingale Asset Management L P bought a new stake in Preferred Bank during the third quarter worth about $425,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Preferred Bank during the third quarter worth about $76,000. 72.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on PFBC shares. Piper Sandler boosted their target price on shares of Preferred Bank from $101.00 to $111.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Stephens restated an “equal weight” rating and set a $100.00 target price on shares of Preferred Bank in a research note on Thursday, January 30th. Finally, DA Davidson lifted their price target on Preferred Bank from $98.00 to $101.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th.

Preferred Bank Price Performance

PFBC stock opened at $83.66 on Tuesday. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of 8.69 and a beta of 0.93. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.08 and a quick ratio of 1.08. The company has a 50 day simple moving average of $87.03 and a 200 day simple moving average of $86.94. Preferred Bank has a 1 year low of $70.99 and a 1 year high of $99.78.

Preferred Bank (NASDAQ:PFBC) last announced its quarterly earnings results on Monday, January 27th. The bank reported $2.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.17). Preferred Bank had a return on equity of 17.80% and a net margin of 25.00%. Research analysts anticipate that Preferred Bank will post 9.81 EPS for the current fiscal year.

Preferred Bank Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be given a $0.75 dividend. The ex-dividend date of this dividend is Monday, April 7th. This represents a $3.00 annualized dividend and a yield of 3.59%. Preferred Bank’s dividend payout ratio is presently 31.15%.

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.