Pitcairn Co. Reduces Position in Preferred Bank (NASDAQ:PFBC)

Pitcairn Co. cut its holdings in shares of Preferred Bank (NASDAQ:PFBC) by 3.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,890 shares of the bank’s stock after selling 157 shares during the period. Pitcairn Co.’s holdings in Preferred Bank were worth $375,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Gladius Capital Management LP boosted its position in shares of Preferred Bank by 518.1% during the fourth quarter. Gladius Capital Management LP now owns 445 shares of the bank’s stock valued at $33,000 after buying an additional 373 shares during the last quarter. McGlone Suttner Wealth Management Inc. bought a new position in Preferred Bank in the fourth quarter valued at about $34,000. AJOVista LLC bought a new position in Preferred Bank in the fourth quarter valued at about $101,000. SG Americas Securities LLC bought a new position in Preferred Bank in the first quarter valued at about $118,000. Finally, Everence Capital Management Inc. bought a new position in Preferred Bank in the fourth quarter valued at about $213,000. 72.77% of the stock is owned by hedge funds and other institutional investors.

Preferred Bank Stock Performance

PFBC stock traded up $3.01 during trading on Thursday, reaching $87.18. The stock had a trading volume of 109,780 shares, compared to its average volume of 88,246. Preferred Bank has a 52 week low of $58.52 and a 52 week high of $88.32. The stock’s 50 day moving average is $76.42 and its two-hundred day moving average is $74.66. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.21. The firm has a market cap of $1.26 billion, a PE ratio of 8.42 and a beta of 0.98.

Preferred Bank (NASDAQ:PFBC) last posted its earnings results on Tuesday, April 23rd. The bank reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.40 by $0.04. Preferred Bank had a return on equity of 21.28% and a net margin of 28.70%. The company had revenue of $71.57 million for the quarter, compared to the consensus estimate of $68.60 million. As a group, equities analysts anticipate that Preferred Bank will post 9.6 earnings per share for the current year.

Preferred Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Friday, July 5th were given a dividend of $0.70 per share. The ex-dividend date was Friday, July 5th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.21%. Preferred Bank’s payout ratio is currently 27.03%.

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 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.