Jane Street Group LLC Acquires 16,820 Shares of Preferred Bank (NASDAQ:PFBC)

Jane Street Group LLC raised its holdings in Preferred Bank (NASDAQ:PFBC) by 84.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 36,699 shares of the bank’s stock after buying an additional 16,820 shares during the quarter. Jane Street Group LLC owned 0.25% of Preferred Bank worth $3,170,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Kennedy Capital Management LLC increased its holdings in shares of Preferred Bank by 274.2% during the fourth quarter. Kennedy Capital Management LLC now owns 90,218 shares of the bank’s stock valued at $7,793,000 after acquiring an additional 66,107 shares in the last quarter. American Century Companies Inc. grew its position in Preferred Bank by 44.7% in the 4th quarter. American Century Companies Inc. now owns 199,628 shares of the bank’s stock valued at $17,244,000 after purchasing an additional 61,655 shares during the period. Hsbc Holdings PLC increased its stake in Preferred Bank by 11.9% during the 4th quarter. Hsbc Holdings PLC now owns 261,130 shares of the bank’s stock valued at $22,815,000 after purchasing an additional 27,760 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Preferred Bank by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 434,590 shares of the bank’s stock worth $37,540,000 after buying an additional 18,868 shares during the last quarter. Finally, Boston Partners raised its holdings in Preferred Bank by 2.5% during the fourth quarter. Boston Partners now owns 530,029 shares of the bank’s stock worth $45,806,000 after buying an additional 12,907 shares during the last quarter. 72.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PFBC shares. Stephens reiterated an “equal weight” rating and set a $91.00 price target on shares of Preferred Bank in a research note on Tuesday, April 29th. DA Davidson cut their target price on Preferred Bank from $95.00 to $90.00 and set a “neutral” rating on the stock in a research report on Monday, April 28th. Finally, Piper Sandler lowered their price target on Preferred Bank from $108.00 to $96.00 and set an “overweight” rating for the company in a research report on Tuesday, April 29th.

Preferred Bank Stock Up 0.4%

PFBC opened at $85.86 on Wednesday. Preferred Bank has a fifty-two week low of $71.43 and a fifty-two week high of $99.78. The firm has a market capitalization of $1.24 billion, a P/E ratio of 8.92 and a beta of 0.69. The company’s 50-day moving average is $81.52 and its 200 day moving average is $86.72. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.08 and a quick ratio of 1.08.

Preferred Bank (NASDAQ:PFBC) last posted its earnings results on Friday, April 25th. The bank reported $2.23 EPS for the quarter, missing the consensus estimate of $2.33 by ($0.10). Preferred Bank had a return on equity of 17.80% and a net margin of 25.00%. The firm had revenue of $65.96 million for the quarter, compared to the consensus estimate of $70.78 million. During the same period in the prior year, the business earned $2.44 EPS. Research analysts expect that Preferred Bank will post 9.81 earnings per share for the current fiscal year.

Preferred Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, April 7th were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date was Monday, April 7th. Preferred Bank’s payout ratio is 31.85%.

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. 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.