Preferred Bank (NASDAQ:PFBC) Holdings Trimmed by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC cut its holdings in Preferred Bank (NASDAQ:PFBC) by 12.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 53,007 shares of the bank’s stock after selling 7,859 shares during the quarter. Segall Bryant & Hamill LLC owned about 0.37% of Preferred Bank worth $4,579,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Prudential Financial Inc. lifted its stake in Preferred Bank by 13.0% during the fourth quarter. Prudential Financial Inc. now owns 14,387 shares of the bank’s stock valued at $1,243,000 after purchasing an additional 1,650 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Preferred Bank during the 4th quarter valued at $916,000. Sei Investments Co. boosted its stake in shares of Preferred Bank by 90.9% during the 4th quarter. Sei Investments Co. now owns 10,237 shares of the bank’s stock worth $884,000 after acquiring an additional 4,875 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Preferred Bank by 44.7% in the 4th quarter. American Century Companies Inc. now owns 199,628 shares of the bank’s stock worth $17,244,000 after acquiring an additional 61,655 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Preferred Bank during the fourth quarter worth $203,000. 72.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PFBC has been the subject of several recent analyst reports. Piper Sandler raised their target price on shares of Preferred Bank from $101.00 to $111.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. DA Davidson lifted their price objective on shares of Preferred Bank from $98.00 to $101.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Finally, Stephens restated an “equal weight” rating and issued a $100.00 target price on shares of Preferred Bank in a report on Thursday, January 30th.

Preferred Bank Price Performance

NASDAQ PFBC opened at $85.43 on Friday. The company has a 50 day simple moving average of $87.17 and a 200-day simple moving average of $86.74. Preferred Bank has a 52-week low of $70.99 and a 52-week high of $99.78. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of 8.87 and a beta of 0.93. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.08 and a quick ratio of 1.08.

Preferred Bank (NASDAQ:PFBC) last issued 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 net margin of 25.00% and a return on equity of 17.80%. Equities research analysts predict that Preferred Bank will post 9.81 earnings per share for the current fiscal year.

Preferred Bank Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend is Monday, April 7th. Preferred Bank’s dividend payout ratio (DPR) 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.