Quest Partners LLC Invests $402,000 in Preferred Bank (NASDAQ:PFBC)

Quest Partners LLC acquired a new position in Preferred Bank (NASDAQ:PFBC) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 5,503 shares of the bank’s stock, valued at approximately $402,000.

A number of other hedge funds also recently made changes to their positions in PFBC. Gladius Capital Management LP raised its holdings in 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 buying an additional 373 shares during the period. McGlone Suttner Wealth Management Inc. bought a new stake in Preferred Bank in the fourth quarter valued at about $34,000. AJOVista LLC bought a new position in shares of Preferred Bank during the fourth quarter valued at approximately $101,000. Everence Capital Management Inc. acquired a new stake in Preferred Bank in the fourth quarter worth approximately $213,000. Finally, Alps Advisors Inc. raised its stake in Preferred Bank by 6.0% during the 3rd quarter. Alps Advisors Inc. now owns 5,408 shares of the bank’s stock valued at $337,000 after purchasing an additional 306 shares during the period. 72.77% of the stock is currently owned by hedge funds and other institutional investors.

Preferred Bank Stock Up 1.4 %

Preferred Bank stock traded up $1.05 during mid-day trading on Friday, hitting $76.65. 47,339 shares of the company’s stock were exchanged, compared to its average volume of 71,895. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.21. The stock has a 50 day moving average of $76.13 and a two-hundred day moving average of $72.20. Preferred Bank has a 1-year low of $45.79 and a 1-year high of $81.13. The stock has a market cap of $1.11 billion, a P/E ratio of 7.40 and a beta of 1.02.

Preferred Bank (NASDAQ:PFBC) last posted its quarterly earnings data on Tuesday, April 23rd. The bank reported $2.44 EPS for the quarter, beating the consensus estimate of $2.40 by $0.04. The business had revenue of $71.57 million for the quarter, compared to analysts’ expectations of $68.60 million. Preferred Bank had a net margin of 28.70% and a return on equity of 21.28%. As a group, analysts anticipate that Preferred Bank will post 9.69 EPS for the current fiscal year.

Preferred Bank Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Friday, April 5th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.65%. The ex-dividend date was Thursday, April 4th. Preferred Bank’s dividend payout ratio (DPR) is presently 27.03%.

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 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.