Preferred Bank (NASDAQ:PFBC) Sets New 1-Year High at $77.93

Preferred Bank (NASDAQ:PFBC)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $77.93 and last traded at $77.50, with a volume of 24330 shares. The stock had previously closed at $74.84.

Preferred Bank Stock Down 0.1 %

The firm has a market cap of $1.11 billion, a price-to-earnings ratio of 7.42 and a beta of 1.04. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a 50-day moving average of $73.62 and a 200-day moving average of $69.75.

Preferred Bank (NASDAQ:PFBC) last released its earnings results on Thursday, January 25th. The bank reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.54 by $0.06. Preferred Bank had a return on equity of 21.28% and a net margin of 28.70%. The firm had revenue of $127.07 million during the quarter, compared to analysts’ expectations of $72.84 million. During the same period in the prior year, the company earned $2.71 earnings per share. Sell-side analysts predict that Preferred Bank will post 9.13 EPS for the current fiscal year.

Preferred Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Friday, April 5th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.64%. The ex-dividend date was Thursday, April 4th. Preferred Bank’s payout ratio is presently 27.03%.

Institutional Investors Weigh In On Preferred Bank

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. SummerHaven Investment Management LLC lifted its stake in Preferred Bank by 1.2% during the fourth quarter. SummerHaven Investment Management LLC now owns 12,516 shares of the bank’s stock worth $914,000 after purchasing an additional 147 shares during the last quarter. Yousif Capital Management LLC lifted its stake in Preferred Bank by 2.9% during the third quarter. Yousif Capital Management LLC now owns 7,149 shares of the bank’s stock worth $445,000 after purchasing an additional 200 shares during the last quarter. Federated Hermes Inc. lifted its stake in Preferred Bank by 0.8% during the fourth quarter. Federated Hermes Inc. now owns 29,965 shares of the bank’s stock worth $2,189,000 after purchasing an additional 226 shares during the last quarter. Alps Advisors Inc. lifted its stake in shares of Preferred Bank by 6.0% in the 3rd quarter. Alps Advisors Inc. now owns 5,408 shares of the bank’s stock valued at $337,000 after acquiring an additional 306 shares during the last quarter. Finally, Gladius Capital Management LP lifted its stake in shares of Preferred Bank by 518.1% in the 4th quarter. Gladius Capital Management LP now owns 445 shares of the bank’s stock valued at $33,000 after acquiring an additional 373 shares during the last quarter. 72.77% of the stock is currently owned by institutional investors.

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 in the United States. 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.