Preferred Bank (NASDAQ:PFBC) Holdings Boosted by Geode Capital Management LLC

Geode Capital Management LLC grew its stake in shares of Preferred Bank (NASDAQ:PFBC) by 2.1% in the 4th quarter, Holdings Channel reports. The firm owned 360,025 shares of the bank’s stock after acquiring an additional 7,428 shares during the quarter. Geode Capital Management LLC’s holdings in Preferred Bank were worth $31,105,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in PFBC. JPMorgan Chase & Co. lifted its stake in Preferred Bank by 24.0% in the third quarter. JPMorgan Chase & Co. now owns 186,107 shares of the bank’s stock valued at $14,935,000 after buying an additional 35,979 shares during the last quarter. Jane Street Group LLC lifted its position in Preferred Bank by 43.8% in the 3rd quarter. Jane Street Group LLC now owns 19,879 shares of the bank’s stock valued at $1,595,000 after purchasing an additional 6,056 shares during the last quarter. KBC Group NV lifted its position in Preferred Bank by 46.2% in the 4th quarter. KBC Group NV now owns 914 shares of the bank’s stock valued at $79,000 after purchasing an additional 289 shares during the last quarter. New York State Common Retirement Fund boosted its stake in Preferred Bank by 15.5% during the 4th quarter. New York State Common Retirement Fund now owns 26,222 shares of the bank’s stock valued at $2,265,000 after purchasing an additional 3,516 shares during the period. Finally, Barclays PLC increased its stake in shares of Preferred Bank by 70.9% in the third quarter. Barclays PLC now owns 27,430 shares of the bank’s stock valued at $2,201,000 after purchasing an additional 11,379 shares during the period. 72.77% of the stock is currently owned by institutional investors and hedge funds.

Preferred Bank Price Performance

NASDAQ PFBC opened at $79.30 on Thursday. 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 firm has a market capitalization of $1.14 billion, a PE ratio of 8.23 and a beta of 0.71. The company’s 50 day simple moving average is $83.94 and its 200 day simple moving average is $86.59. Preferred Bank has a 12 month low of $71.29 and a 12 month high of $99.78.

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

Preferred Bank Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Monday, April 7th. This represents a $3.00 annualized dividend and a dividend yield of 3.78%. Preferred Bank’s payout ratio is 31.15%.

Wall Street Analysts Forecast Growth

PFBC has been the subject of a number of recent analyst reports. DA Davidson increased their price objective on Preferred Bank from $98.00 to $101.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Piper Sandler increased their price target on Preferred Bank from $101.00 to $111.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, Stephens restated an “equal weight” rating and set a $100.00 price objective on shares of Preferred Bank in a research note on Thursday, January 30th.

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.