SkyOak Wealth LLC Invests $281,000 in Preferred Bank (NASDAQ:PFBC)

SkyOak Wealth LLC acquired a new position in Preferred Bank (NASDAQ:PFBC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,249 shares of the bank’s stock, valued at approximately $281,000.

Other large investors have also added to or reduced their stakes in the company. R Squared Ltd bought a new stake in Preferred Bank during the 4th quarter worth about $65,000. KBC Group NV raised its holdings in Preferred Bank by 46.2% during the fourth quarter. KBC Group NV now owns 914 shares of the bank’s stock worth $79,000 after acquiring an additional 289 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in Preferred Bank by 12.7% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 3,498 shares of the bank’s stock valued at $302,000 after purchasing an additional 394 shares during the last quarter. Exchange Traded Concepts LLC grew its stake in Preferred Bank by 2.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 16,272 shares of the bank’s stock valued at $1,406,000 after purchasing an additional 334 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in shares of Preferred Bank by 59.6% during the 4th quarter. SG Americas Securities LLC now owns 5,845 shares of the bank’s stock worth $505,000 after purchasing an additional 2,183 shares during the last quarter. Institutional investors and hedge funds own 72.77% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Piper Sandler increased their price objective on Preferred Bank from $101.00 to $111.00 and gave the company an “overweight” rating in a report on Friday. Stephens restated an “equal weight” rating and set a $100.00 price objective on shares of Preferred Bank in a research note on Thursday. Finally, DA Davidson raised their target price on shares of Preferred Bank from $98.00 to $101.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th.

Preferred Bank Trading Up 1.1 %

Shares of Preferred Bank stock opened at $91.36 on Monday. 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 business has a fifty day simple moving average of $89.08 and a two-hundred day simple moving average of $85.19. Preferred Bank has a 1 year low of $66.88 and a 1 year high of $99.78. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 9.49 and a beta of 0.97.

Preferred Bank (NASDAQ:PFBC) last posted its earnings results on Monday, January 27th. The bank reported $2.25 earnings per share (EPS) 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%. Research analysts forecast that Preferred Bank will post 9.58 EPS for the current year.

Preferred Bank Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 23rd. Stockholders of record on Thursday, January 9th were given a $0.75 dividend. This is an increase from Preferred Bank’s previous quarterly dividend of $0.70. The ex-dividend date was Friday, January 10th. This represents a $3.00 annualized dividend and a dividend yield of 3.28%. Preferred Bank’s dividend payout ratio is presently 31.15%.

About Preferred Bank

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.