Preferred Bank (NASDAQ:PFBC) Stock Holdings Lessened by Hotchkis & Wiley Capital Management LLC

Hotchkis & Wiley Capital Management LLC lowered its stake in Preferred Bank (NASDAQ:PFBC) by 4.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 120,700 shares of the bank’s stock after selling 6,100 shares during the period. Hotchkis & Wiley Capital Management LLC’s holdings in Preferred Bank were worth $9,686,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Benjamin Edwards Inc. purchased a new position in Preferred Bank during the 3rd quarter worth approximately $272,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Preferred Bank during the 3rd quarter worth approximately $76,000. Martingale Asset Management L P purchased a new position in Preferred Bank during the 3rd quarter worth approximately $425,000. De Lisle Partners LLP grew its position in Preferred Bank by 51.8% during 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. Finally, FMR LLC grew its position in Preferred Bank by 4.2% during the 3rd quarter. FMR LLC now owns 6,674 shares of the bank’s stock worth $536,000 after purchasing an additional 271 shares in the last quarter. Institutional investors own 72.77% of the company’s stock.

Preferred Bank Trading Up 0.6 %

Preferred Bank stock opened at $94.57 on Thursday. The company’s fifty day simple moving average is $87.38 and its 200-day simple moving average is $81.41. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.20. Preferred Bank has a 12 month low of $63.90 and a 12 month high of $99.78. The stock has a market cap of $1.36 billion, a P/E ratio of 9.48 and a beta of 0.96.

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

Preferred Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.96%. The ex-dividend date was Monday, October 7th. Preferred Bank’s payout ratio is 28.06%.

Analyst Ratings Changes

Separately, Stephens boosted their price target on shares of Preferred Bank from $90.00 to $94.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd.

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.