Preferred Bank (NASDAQ:PFBC) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Preferred Bank (NASDAQ:PFBC) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $83.85 and traded as high as $85.73. Preferred Bank shares last traded at $85.33, with a volume of 82,987 shares.

Wall Street Analysts Forecast Growth

Separately, Stephens cut Preferred Bank from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 9th.

Preferred Bank Stock Down 4.6 %

The stock has a market cap of $1.17 billion, a P/E ratio of 8.16 and a beta of 0.97. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.20. The stock’s 50-day moving average is $90.75 and its 200-day moving average is $83.90.

Preferred Bank (NASDAQ:PFBC) last posted its quarterly earnings data on Monday, October 21st. The bank reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.39 by $0.07. Preferred Bank had a net margin of 26.20% and a return on equity of 19.01%. The business had revenue of $132.88 million during the quarter, compared to analysts’ expectations of $68.80 million. During the same period last year, the firm posted $2.71 earnings per share. As a group, research analysts anticipate that Preferred Bank will post 9.75 earnings per share for the current fiscal year.

Preferred Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 23rd. Stockholders of record on Thursday, January 9th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date of this dividend is Friday, January 10th. This is an increase from Preferred Bank’s previous quarterly dividend of $0.70. Preferred Bank’s payout ratio is currently 30.06%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PFBC. JPMorgan Chase & Co. raised its position in Preferred Bank by 24.0% in the third quarter. JPMorgan Chase & Co. now owns 186,107 shares of the bank’s stock worth $14,935,000 after acquiring an additional 35,979 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Preferred Bank by 24.7% in the 2nd quarter. AQR Capital Management LLC now owns 77,745 shares of the bank’s stock worth $5,869,000 after purchasing an additional 15,391 shares in the last quarter. De Lisle Partners LLP raised its holdings in shares of Preferred Bank by 51.8% in the 3rd quarter. De Lisle Partners LLP now owns 41,034 shares of the bank’s stock worth $3,290,000 after purchasing an additional 14,000 shares in the last quarter. Geode Capital Management LLC lifted its stake in Preferred Bank by 3.6% during the third quarter. Geode Capital Management LLC now owns 352,597 shares of the bank’s stock valued at $28,300,000 after purchasing an additional 12,283 shares during the last quarter. Finally, GSA Capital Partners LLP boosted its holdings in Preferred Bank by 62.5% during the third quarter. GSA Capital Partners LLP now owns 31,726 shares of the bank’s stock worth $2,546,000 after buying an additional 12,197 shares in the last quarter. Institutional investors own 72.77% of the company’s stock.

Preferred Bank Company 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.