Preferred Bank (NASDAQ:PFBC) Holdings Lifted by Principal Financial Group Inc.

Principal Financial Group Inc. grew its stake in shares of Preferred Bank (NASDAQ:PFBC) by 2.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 73,319 shares of the bank’s stock after purchasing an additional 1,927 shares during the period. Principal Financial Group Inc. owned about 0.51% of Preferred Bank worth $5,629,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of PFBC. Quadrature Capital Ltd lifted its holdings in shares of Preferred Bank by 13.2% during the third quarter. Quadrature Capital Ltd now owns 8,621 shares of the bank’s stock valued at $536,000 after purchasing an additional 1,004 shares during the last quarter. AQR Capital Management LLC lifted its stake in Preferred Bank by 64.5% in the 3rd quarter. AQR Capital Management LLC now owns 69,277 shares of the bank’s stock worth $4,313,000 after acquiring an additional 27,162 shares in the last quarter. Alps Advisors Inc. lifted its stake in Preferred Bank by 6.0% in the 3rd quarter. Alps Advisors Inc. now owns 5,408 shares of the bank’s stock worth $337,000 after acquiring an additional 306 shares in the last quarter. GSA Capital Partners LLP lifted its stake in Preferred Bank by 19.5% in the 3rd quarter. GSA Capital Partners LLP now owns 16,021 shares of the bank’s stock worth $997,000 after acquiring an additional 2,609 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in Preferred Bank by 25.9% in the 3rd quarter. American Century Companies Inc. now owns 112,126 shares of the bank’s stock worth $6,980,000 after acquiring an additional 23,032 shares in the last quarter. 72.77% of the stock is owned by hedge funds and other institutional investors.

Preferred Bank Stock Down 1.9 %

Preferred Bank stock traded down $1.42 during mid-day trading on Friday, hitting $73.26. The company’s stock had a trading volume of 11,009 shares, compared to its average volume of 85,050. The firm’s 50 day moving average is $75.98 and its 200 day moving average is $74.11. The company has a market cap of $1.06 billion, a PE ratio of 7.21 and a beta of 0.98. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.07 and a quick ratio of 1.07. Preferred Bank has a 52-week low of $54.21 and a 52-week high of $81.13.

Preferred Bank (NASDAQ:PFBC) last posted its quarterly earnings results on Tuesday, April 23rd. The bank reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.04. Preferred Bank had a return on equity of 21.28% and a net margin of 28.70%. The company had revenue of $71.57 million during the quarter, compared to the consensus estimate of $68.60 million. On average, analysts anticipate that Preferred Bank will post 9.6 earnings per share for the current year.

Preferred Bank Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 19th. Stockholders of record on Friday, July 5th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date is Friday, July 5th. Preferred Bank’s dividend payout ratio (DPR) is presently 27.03%.

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 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.