Preferred Bank (NASDAQ:PFBC) Shares Sold by Stieven Capital Advisors L.P.

Stieven Capital Advisors L.P. lowered its position in shares of Preferred Bank (NASDAQ:PFBC) by 33.7% during the third quarter, Holdings Channel reports. The fund owned 117,621 shares of the bank’s stock after selling 59,814 shares during the quarter. Preferred Bank makes up approximately 1.8% of Stieven Capital Advisors L.P.’s investment portfolio, making the stock its 24th biggest position. Stieven Capital Advisors L.P.’s holdings in Preferred Bank were worth $9,439,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of PFBC. Copeland Capital Management LLC acquired a new stake in Preferred Bank during the third quarter worth approximately $54,000. Point72 DIFC Ltd boosted its position in Preferred Bank by 69.9% during the second quarter. Point72 DIFC Ltd now owns 848 shares of the bank’s stock worth $64,000 after acquiring an additional 349 shares during the last quarter. CWM LLC boosted its position in Preferred Bank by 96.4% during the second quarter. CWM LLC now owns 1,043 shares of the bank’s stock worth $79,000 after acquiring an additional 512 shares during the last quarter. Point72 Asset Management L.P. boosted its position in Preferred Bank by 35.1% during the second quarter. Point72 Asset Management L.P. now owns 1,486 shares of the bank’s stock worth $112,000 after acquiring an additional 386 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Preferred Bank during the first quarter worth approximately $118,000. Institutional investors and hedge funds own 72.77% of the company’s stock.

Preferred Bank Stock Performance

NASDAQ:PFBC opened at $93.67 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.20. The company has a market cap of $1.35 billion, a P/E ratio of 9.39 and a beta of 0.94. Preferred Bank has a fifty-two week low of $61.24 and a fifty-two week high of $97.21. The firm’s 50 day moving average is $83.55 and its two-hundred day moving average is $80.00.

Preferred Bank (NASDAQ:PFBC) last posted its quarterly earnings results on Monday, October 21st. The bank reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.39 by $0.07. Preferred Bank had a net margin of 26.20% and a return on equity of 19.01%. The company had revenue of $132.88 million for the quarter, compared to the consensus estimate of $68.80 million. During the same quarter last year, the firm posted $2.71 earnings per share. Analysts expect that Preferred Bank will post 9.75 EPS for the current year.

Preferred Bank Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, October 7th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend was Monday, October 7th. Preferred Bank’s dividend payout ratio is presently 28.06%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PFBC. Stephens increased their price target on shares of Preferred Bank from $90.00 to $94.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Piper Sandler increased their price target on shares of Preferred Bank from $88.00 to $105.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th.

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.