Boston Partners Grows Stock Holdings in Preferred Bank (NASDAQ:PFBC)

Boston Partners boosted its holdings in shares of Preferred Bank (NASDAQ:PFBC) by 2.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 530,029 shares of the bank’s stock after purchasing an additional 12,907 shares during the quarter. Boston Partners owned about 3.67% of Preferred Bank worth $45,806,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of PFBC. JPMorgan Chase & Co. raised its stake in Preferred Bank by 24.0% during the third quarter. JPMorgan Chase & Co. now owns 186,107 shares of the bank’s stock valued at $14,935,000 after purchasing an additional 35,979 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Preferred Bank by 4.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 434,590 shares of the bank’s stock valued at $37,540,000 after acquiring an additional 18,868 shares during the period. De Lisle Partners LLP raised its stake in shares of Preferred Bank by 51.8% in the third quarter. De Lisle Partners LLP now owns 41,034 shares of the bank’s stock valued at $3,290,000 after acquiring an additional 14,000 shares during the period. Geode Capital Management LLC raised its stake in shares of Preferred Bank by 3.6% in the third quarter. Geode Capital Management LLC now owns 352,597 shares of the bank’s stock valued at $28,300,000 after acquiring an additional 12,283 shares during the period. Finally, Barclays PLC raised 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 acquiring an additional 11,379 shares during the period. Hedge funds and other institutional investors own 72.77% of the company’s stock.

Preferred Bank Trading Up 1.3 %

NASDAQ PFBC opened at $84.04 on Thursday. The company’s 50-day moving average price is $87.08 and its 200-day moving average price is $86.59. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.19. The stock has a market cap of $1.21 billion, a PE ratio of 8.73 and a beta of 0.93. Preferred Bank has a 12 month low of $70.99 and a 12 month high of $99.78.

Preferred Bank (NASDAQ:PFBC) last posted its quarterly earnings results on Monday, January 27th. The bank reported $2.25 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%. Equities research analysts forecast that Preferred Bank will post 9.81 earnings per share for the current year.

Preferred Bank Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.57%. Preferred Bank’s payout ratio is presently 31.15%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PFBC shares. DA Davidson increased 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. Stephens reissued an “equal weight” rating and issued a $100.00 target price on shares of Preferred Bank in a research note on Thursday, January 30th. Finally, Piper Sandler increased their target price on shares of Preferred Bank from $101.00 to $111.00 and gave the company an “overweight” rating in a research note on Friday, January 31st.

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.